Chevron cuts US$6 billion from guidance

CHEVRON will shave around US$6 billion from its total capital and exploratory guidance through to 2025 as it attempts to preserve its dividend during the oil price maelstrom of 2020.

Chevron cuts US$6 billion from guidance Chevron cuts US$6 billion from guidance Chevron cuts US$6 billion from guidance Chevron cuts US$6 billion from guidance Chevron cuts US$6 billion from guidance

Chevron chairman and CEO Michael Wirth.

 

The company announced its budget overnight, saying it expects total capex and exploration spending will be between $14-16 billion, well short of its previous forecast of $22 billion.

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