Chevron has published its investment program for 2016 with a significantly reduced budget. The oil major expects to use around USD 26.6 billion next year, which corresponds to a 24 percent cutback compared to the projected level for 2015, says Chevron in a statement.
CEO John Watson does comment directly on the major reduction, though he points out that the figure will, among other things, enable Chevron to complete projects under construction, finance high returns and to maintain the opportunity to pursue sustainable, long-term projects.
Already a subscriber? Log in.
Read the whole article
Get 14 days free access.
No credit card is needed, and you will not be automatically signed up for a paid subscription after the free trial.
- Access all locked articles
- Receive our daily newsletters
- Access our app
Get full access for you and your coworkers.
Start a free company trial todayMore from ShippingWatch
Intelligence service warns shipping against cyber attacks due to the Ukraine crisis
Tensions in Ukraine between Russia and the West prompts the Danish Defence Intelligence Service to warn against potential cyber attacks, referring to the NotPetya attack on Maersk in 2017.
Borr Drilling has debt agreement approved
Drilling company Borr Drilling has ensured support from its remaining creditors for a deal to postpone debt repayments of USD 1.4bn to Singapore yards.
Analyst expects record-high dividend from Maersk
Maersk is on the way to pay out record-high dividends of DKK 50bn to shareholders following an extraordinarily profitable 2021, estimates analyst cited by Børsen.
Shipping fights for billions of dollars from yet another fund
With the changes made to the EU’s proposed carbon quotas for shipping, another billion-dollar fund has come into play. Lobby group Danish Shipping says not just anyone should be able to qualify for this funding.
PIL close to ordering four 14,000-teu container ships
Singapore-based PIL, which has undergone an extensive restructuring, is so optimistic for the future that the company will soon order four large container ships, according to market sources.
Key Account Manager, Denmark 
Safety & Operations Manager 
Fleet Manager 
Director of Lederne Søfart 
Sales Director 
Chief Operating Officer