je.st
news
Chevron Tightens Belt as $40 Billion Makeover Sweeps Oil Sector
2015-01-31 06:53:07| Oil & Gas - Topix.net
Chevron Corp. halted share buybacks, slowed work on new projects and announced the biggest spending cut in more than a decade as oil explorers around the world curtail ambitions to cope with free-falling oil prices. Chevron lowered its 2015 capital-spending target by 13 percent to $35 billion and halted stock repurchases that absorbed $5 billion in cash last year.
Tags: oil
sector
billion
belt
Category:Energy and Environment