Chevron Corporation (NYSE: CVX) announced on June 13 that its subsidiary, Chevron Global Energy Inc., has sold its 25 percent non-operated interest in a producing oil concession in southern Chad and the related export pipeline interests to the Republic of Chad for approximately $1.3 billion.

“This sale demonstrates our focus on strategically managing our portfolio to maximize the value of our global upstream businesses,” said George Kirkland, vice chairman of San Ramon-based Chevron Corporation.