--Chevron is looking into buying Phillips 66's stake in a chemicals joint venture as it seeks to increase its exposure to petrochemicals, Bloomberg reported, citing sources.
--The Houston-based energy giant has been interested in buying out the stake for some time, the report said.
--No talks are under way and it's unclear whether Phillips 66 is amenable to parting with the stake or what it could be valued at, the Bloomberg report said, citing sources.
--The stake could be worth about about $15 billion in a potential sale, according to Activist Elliott Investment Management, the report said.
Full article at https://www.bloomberg.com/news/articles/2025-02-26/chevron-said-to-be-open-to-buying-phillips-66-chemical-stake?srnd=homepage-americas
Write to (sabela.ojea@wsj.com; @sabelaojeaguix)
(END) Dow Jones Newswires
February 26, 2025 12:27 ET (17:27 GMT)
Copyright (c) 2025 Dow Jones & Company, Inc.
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