Factbox: Global oil, gas producers cut spending after crude price crash [Reuters]
Chevron Corporation (CVX)
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Source: Reuters
Factbox: Global oil, gas producers cut spending after crude price crash - Reuters 6 Min Read (Reuters) - Oil and gas companies aim to cut spending as the impact of the new coronavirus on demand and a push by Saudi Arabia and Russia to ramp up output have hammered oil markets. International benchmark prices LCOc1 have more than halved since the start of the year, falling to well below $30 a barrel. North American oil and gas producers have cut capital spending by about 30% on average, data compiled by Reuters showed. [nL4N2B54OV] Below are plans announced by international energy companies (in alphabetical order): BPBP Plc ( BP.L ) said it planned to reduce capital and operational spending, which was about $15 billion last year. [nL8N2B6760] Chevron Corp ( CVX.N ) said it aimed to trim spending and lower oil output in the near term. The oil major’s 2020 organic capital expenditure guidance had been $20 billion. [nL8N2B33TM] Norway’s DNO ( DNO.OL ), which operates in Iraq’s Kurdist
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- 11/18/24 - Form 4
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- CVX's page on the SEC website