Chevron leaves Lithuania as shale gas prospects remain uncertain

|About: Chevron Corporation (CVX)|By:, SA News Editor

Chevron (CVX -0.2%) has sold its assets in Lithuania and pulled out of the country, the company says on its website.

CVX won a tender last year to explore for shale gas in the Baltic country, but pulled out from the tender later citing an uncertain legal framework.

As a result of the divestment, Tethys Oil (TETHF) says it increased its indirect interest in the Rietavas license owned by LL Investicijos to 30% from 14%.