Chevron Slashes Capital Spending as Major Projects Start Up, Including Gorgon LNG, an Industrial Info News Alert
SUGAR LAND, Texas, May 1, 2017 /PRNewswire/ — Researched by Industrial Info Resources (Sugar Land, Texas)–Stronger crude oil prices put Chevron Corporation (San Ramon, California) back into the black in first-quarter 2017, with capital spending dropping significantly as more projects, particularly a train at the massive Gorgon LNG project in Australia, were brought online. The company’s production also ticked up, consistent with gains in worldwide oil-equivalent production. Industrial Info is tracking more than $92 billion in active projects involving Chevron, including $10.4 billion in the U.S. and $20.6 billion in Australia.
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SOURCE Industrial Info Resources