US company denies decision is linked to UK’s 35% windfall tax on North Sea producers

Chevron is preparing to call time on more than five decades in the North Sea with a plan to sell its remaining oil and gas fields in the ageing oil basin.

The US oil company said on Thursday that it will launch a sale of its North Sea interests, including a 19.4% stake in the giant Claire oilfield in the West of Shetland region, which could raise up to $1bn.

Ex-president at Mar-a-Lago last month hosted more than 20 executives, including from Chevron, Exxon and Occidental

A “deal” allegedly offered by Donald Trump to big-oil executives as he sought $1bn in campaign donations could save the industry $110bn in tax breaks if he returns to the White House, an analysis suggests.

The fundraising dinner held last month at Mar-a-Lago with more than 20 executives, including from Chevron, Exxon and Occidental Petroleum, reportedly involved Trump asking for large campaign contributions and promising, if elected, to remove barriers to drilling, scrap a pause on gas exports, and reverse new rules aimed at cutting car pollution.