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Chevron accelerating asset sales to $15 billion on oil slide

2015-03-11 11:19:16| Energy - Topix.net

Chevron will increase asset sales by 50 percent to $15 billion and curtail new investment for the next two years after plunging oil prices squeezed cash flow for the second-biggest U.S. energy producer. Chevron's divestment of oil and natural gas fields and other exploration and production assets will continue through 2017, Chairman and Chief Executive Officer John Watson said during a presentation to analysts in New York on Tuesday.

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