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Glencore helped finance Chad's acquisition of Chevron assets

  • Glencore (GLCNF, GLNCY) helped finance Chad's $1.3B acquisition of Chevron's (CVX) oil assets in the African country, according to a statement by Chad's government.
  • A $1.25B four-year loan for Glencore, secured against future oil exports, deepens the company's position in Chad, where it last year agreed a deal to export the landlocked nation's crude.
  • CVX said Friday it had sold its share of seven oil fields in Chad's southern Doba region and an export pipeline to the government; the project is operated by Exxon Mobil (XOM).
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