Chevron Marks Up Loss for 2016, Slashes Capital Spending to $19.8 Billion
SUGAR LAND--January 31, 2017--Researched by Industrial Info Resources (Sugar Land, Texas)--Chevron Corporation (NYSE:CVX) (San Ramon, California) sported its biggest black eye in decades last week when it posted its first annual net loss since 1980. The company prepared to reduce its annual capital expenditures, particularly drilling, for the fourth year in a row, although executives pointed out that high-profile projects that required massive investments over the past few years are mostly complete and set to begin activity. Industrial Info is tracking $80.64 billion in active projects involving Chevron.
Within this article: Details on Chevron's projections for 2017, including where it stands on major projects offshore Australia and the Gulf of Mexico.
