Chevron sells part of offshore Morocco oil stake to Qatari government

• Qatar's state oil company says it reached a deal with Chevron (CVX +0.4%) to acquire 30% of its stake in three deepwater drilling leases offshore Morocco.
• CVX will remain operator as it holds on to a 45% interest in the leases Cap Rhir Deep, Cap Cantin Deep and Cap Walidia Deep, while Morocco's government will retain a 25% stake; financial terms are not disclosed.
• CVX announced its agreement to explore the offshore areas in 2013.