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18

Chevron Acquired Natural Gas Business

Us oil major Chevron Corp. has increased its ownership stake in Bridgeline Holdings LP to 100 percent

Us oil major Chevron Corp. has increased its ownership stake in Bridgeline Holdings LP to 100 percent. Financial details of the transaction were not disclosed.

The company acquired the 40 percent interest in the limited partnership held by an affiliate of Houston's Targa Resources Inc. Bridgeline was formed in 2000 between Chevron and Targa's predecessor. Targa acquired its ownership in Bridgeline in 2004.

In a statement, Chevron said that the buy is in an effort to grow the company's global gas business.