Capital discipline means ph 2 and 3 projects will be delayed until costs are reduced to make better returns.
8 replies (most recent on top)
Sure, you can lower your Capex, but for in-flight projects beyond a point of no return (you know which ones), Chevron will have to continue injecting cash until they are finally finished and some level of production is attained. We are weeks away form 1st QTR reporting...would love to hear CVX's reassessment on or before the next analysts call.
Yes.
https://www.reuters.com/article/us-chevron-capex/chevron-studies-lower-spending-output-in-face-of-oil-rout-idUSKBN20X1IL
Cenovus cut capex massively
MW will not let Chevron get caught with its pants down, like what happened in 2015 under JW. I would not be surprised if the executive management already has contingency plans in place for a situation like this. Project/budget priorities along with associated headcount reductions.
OXY cut dividend and CAPEX
Fake news.
Why not? Let the games begin!