Chevron to offload Asian assets worth $5 billion

Chevron Corp, the second-largest US oil company, plans to sell assets in Asia worth $5 billion, including its stake in a Chinese offshore oilfield, sources were quoted by the Wall Street Journal on Thursday as saying.

The US company is expected to sell its shares in the offshore oilfield venture with Asia's largest offshore oil company CNOOC Ltd in August, which could fetch about $1 billion, the report said.

Beijing-based CNOOC and Chevron did not immediately respond to comment.