Business & Finance
Business and Finance
Business and Finance
Sat, December 7, 2024
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Fri, December 6, 2024
[ 05:30 PM ] - United States, Fox Business
[ 12:31 PM ] - United States, MSN
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[ 10:31 AM ] - United States, Upstream
Chevron's 2025 capex reduction could be a precursor to other supermajor rein-ins next year
- US operator Chevron has slashed its planned capital expenditure for next year, with cuts directed towards the company's Permian basin shale business, the company said on Thursday.
The article from Upstream Online discusses Chevron's plan to reduce its capital expenditure (capex) in 2025, which could signal similar financial strategies among other supermajor oil companies in the following year. Chevron has announced a decrease in its capex budget, aiming to optimize its spending after a period of high investment in projects like Tengiz in Kazakhstan and the Permian Basin. This move is seen as a response to the volatile oil market conditions and a strategic shift towards efficiency and shareholder returns. The reduction might encourage other major oil companies to reassess their investment plans, potentially leading to a broader industry trend of cost-cutting and capital discipline. This could impact global oil supply dynamics and investment in new oil and gas projects, reflecting a cautious approach amidst uncertainties in energy demand and prices.
Read the Full Upstream Article at:
[ https://www.upstreamonline.com/finance/chevron-s-2025-capex-reduction-could-be-a-precursor-to-other-supermajor-rein-ins-next-year/2-1-1749660 ]
Read the Full Upstream Article at:
[ https://www.upstreamonline.com/finance/chevron-s-2025-capex-reduction-could-be-a-precursor-to-other-supermajor-rein-ins-next-year/2-1-1749660 ]
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