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March 11, 2014
08:42 EDTCVXChevron reaffirms strategies at annual security analyst meeting
Chevron Corporation is continuing to generate industry-leading operational and financial results and advancing key projects to drive future growth, executives said today at the company’s annual security analyst meeting in New York. “World energy demand continues to grow and the outlook for the energy business remains excellent,” said John Watson, Chevron’s chairman and CEO. Watson added, “Our strategies are sound, and we’re poised to deliver significant production growth through the end of the decade. We believe this compelling growth profile, combined with flattening capital spending levels these next few years, should serve as a strong catalyst for value creation for our shareholders in the years ahead.” Jay Johnson, senior vice president, Upstream, provided an overview of Chevron’s queue of projects, exploration assets, and other long-term opportunities. “Our plan for production growth is solid and will be driven by near-term project ramp-ups as well as our larger major capital projects which begin starting up later this year.” Johnson added, “These projects are attractive, and when combined with profitable production growth from our shale and tight resource developments, are expected to add over 800,000 barrels of oil equivalent per day by 2017. We also have a deep queue of other growth opportunities which should allow us to continue growing production to the end of the decade.”
News For CVX From The Last 14 Days
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July 29, 2015
14:07 EDTCVXChevron volatility elevated into Q2 and outlook
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13:04 EDTCVXSaudi Arabia to lower oil production after summer, WSJ reports
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July 22, 2015
06:39 EDTCVXEuro, U.S. oil and gas groups to find tough competition in Iran, WSJ says
European and U.S. oil and gas firms drawn to Iran as sanctions lessen can expect not only opportunities, but also Iranian companies offering tough competition or joint ventures, the Wall Street Journal reports. Though no Iran-based companies have the clout of firms such as Exxon Mobil (XOM) or Schlumberger (SLB), companies that can take on engineering tasks are emerging and growing in Iran, the report says. If the Iran nuclear agreement comes into effect and sanctions are lifted against Iran sometime soon, those Iranian companies will be well positioned to compete for tens of billions of dollars worth of service contracts, the report adds. Other publicly traded companies in the space include BP (BP), Chevron (CVX), ConocoPhillips (COP), Royal Dutch Shell (RDS.A) and Total (TOT). Reference Link

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