Chevron eyes cost cuts as Gorgon starts up

March 8, 2016

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US energy major Chevron has announced spending cut backs as it completed construction on a number of its projects.

Speaking at a security analyst meeting overnight, Chevron chairperson and CEO John Watson noted that with low oil prices persisting, the company was managing spend at the lower end of the $25-billion to $28-billion range previous predicted for 2016, with Chevron targeting some $26.6-billion.

Category: General