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LequteMan
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US oil giant Chevron is planning a $15 billion asset sales through 2017 as it seeks to maintain a strong dividend for shareholders amid lower oil prices, according to Financial Times.
The divestment program expands by 50 percent a previous target to sell $10 billion in assets through 2016, a presentation by Chevron chief executive John Watson says.
Oil has lost about half its value since late June amid weakening international demand and rising supplies from U.S. shale formations. Consequently, tens of thousands of jobs have been cut across the industry as companies try to curb spending
In 2014, Chevron divested $6 billion in assets, including the $1.3 billion sale of a stake in a Chad oil project to the Republic of Chad. The deal also comprised Chevron's interest in a pipeline system that transports oil from Chad to Cameroon.
Other large oil companies, including ExxonMobil and Royal Dutch Shell, have also trimmed spending in response to about a 50 percent drop in oil prices since June. Leading oil services companies, including Halliburton and Schlumberger, have announced deep job cuts.
#Chevron #Nigeria
The divestment program expands by 50 percent a previous target to sell $10 billion in assets through 2016, a presentation by Chevron chief executive John Watson says.
Oil has lost about half its value since late June amid weakening international demand and rising supplies from U.S. shale formations. Consequently, tens of thousands of jobs have been cut across the industry as companies try to curb spending
In 2014, Chevron divested $6 billion in assets, including the $1.3 billion sale of a stake in a Chad oil project to the Republic of Chad. The deal also comprised Chevron's interest in a pipeline system that transports oil from Chad to Cameroon.
Other large oil companies, including ExxonMobil and Royal Dutch Shell, have also trimmed spending in response to about a 50 percent drop in oil prices since June. Leading oil services companies, including Halliburton and Schlumberger, have announced deep job cuts.
#Chevron #Nigeria
