Among the important factors that could cause actual results to differ materially from those in the forward-looking statements are: changing crude oil and natural gas prices; changing refining, marketing and chemicals margins; the company's ability to realize anticipated cost savings and expenditure reductions; actions of competitors or regulators; timing of exploration expenses; timing of crude oil liftings; the competitiveness of alternate-energy sources or product substitutes; technological developments; the results of operations and financial condition of the company's suppliers, vendors, partners and equity affiliates, particularly during extended periods of low prices for crude oil and natural gas; the inability or failure of the company’s joint-venture partners to fund their share of operations and development activities; the potential failure to achieve expected net production from existing and future crude oil and natural gas development projects; potential delays in the development, construction or start-up of planned projects; the potential disruption or interruption of the company’s operations due to war, accidents, political events, civil unrest, severe weather, cyber threats and terrorist acts, crude oil production quotas or other actions that might be imposed by the Organization of Petroleum Exporting Countries and other producing countries, or other natural or human causes beyond the company’s control; changing economic, regulatory and political environments in the various countries in which the company operates; general domestic and international economic and political conditions; the potential liability for remedial actions or assessments under existing or future environmental regulations and litigation; significant operational, investment or product changes required by existing or future environmental statutes and regulations, including international agreements and national or regional legislation and regulatory measures to limit or reduce greenhouse gas emissions; the potential liability resulting from pending or future litigation; the company’s future acquisitions or dispositions of assets or shares or the delay or failure of such transactions to close based on required closing conditions; the potential for gains and losses from asset dispositions or impairments; government-mandated sales, divestitures, recapitalizations, industry-specific taxes, tariffs, sanctions, changes in fiscal terms or restrictions on scope of company operations; foreign currency movements compared with the U.S. dollar; material reductions in corporate liquidity and access to debt markets; the effects of changed accounting rules under generally accepted accounting principles promulgated by rule-setting bodies; the company's ability to identify and mitigate the risks and hazards inherent in operating in the global energy industry; and the factors set forth under the heading “Risk Factors” on pages 18 through 21 of the company’s 2018 Annual Report on Form 10-K and in subsequent filings with the U.S. Securities and Exchange Commission. We strive to enable human progress in a sustainable manner to serve the world’s growing population and create a better future. Chevron explores for, produces and transports crude oil and natural gas; refines, markets and distributes transportation fuels and lubricants; manufactures and sells petrochemicals and additives; generates power; and develops and deploys technologies that enhance business value in every aspect of the company's operations. (Reuters) - Chevron Corp Historical performance doesn't guarantee future predictions but market trends can be telling. Most reductions will take place this year. Chevron Corporation is one of the world's leading integrated energy companies. project portfolio. Investing for Retirement: How to Design A Plan that Anticipates the Unexpected, The Most Important Ages for Retirement Planning: Age 50, The Most Important Ages for Retirement Planning: Age 59 ½, The Most Important Ages for Retirement Planning: Age 65, The Most Important Ages for Retirement Planning: Age 66, The Most Important Ages for Retirement Planning: Age 70 ½. © 2001 – 2020 Chevron Corporation. Energy that is affordable, reliable and ever-cleaner. Because we understand that the well-being of people everywhere depends on energy. entities, such as banks, credit card issuers or travel companies. We believe in the power of humanity to solve any challenge, to overcome any obstacle, and to find responsible solutions that work for all of us. Earnings season is already bringing major intraday moves. Chevron pocketed a $1 billion break fee while Occidental has faced investor wrath for its ill-timed deal. . Chevron, which has 45,000 employees, expects to remove about 10% to 15% of its global staff to "match projected activity levels," spokeswoman Veronica Flores-Paniagua confirmed. “With capital discipline and a conservative outlook comes the responsibility to make the tough choices necessary to deliver higher cash returns to our shareholders over the long term.”. It last year launched a major cost-cutting overhaul that has already pared the number of units. Investors are more interested in investing in the pharmaceutical industry in 2020. and have not been previously reviewed, approved or endorsed by any other Emotional times require a behavioral touch when helping clients make financial decisions. At its annual shareholder meeting on Wednesday, No. This news release contains forward-looking statements relating to Chevron’s operations that are based on management’s current expectations, estimates and projections about the petroleum, chemicals and other energy-related industries. Chevron Corporation today announced a 2020 organic capital and exploratory spending program of $20 billion. The content Other unpredictable or unknown factors not discussed in this news release could also have material adverse effects on forward-looking statements. As a result of Chevron’s disciplined approach to capital allocation and a downward revision in its longer-term commodity price outlook, the company will reduce funding to various gas-related opportunities including Appalachia shale, Kitimat LNG, and other international projects. Chevron is based in San Ramon, Calif. More information about Chevron is available at www.chevron.com. Toggle navigation toggle search search; project portfolio. PayPal's decision to support Bitcoin could be a major turning point in the cryptocurrency's adoption. Chevron's proposed job cuts match those at oilfield service companies and many smaller producers amid the price collapse. Details of the 2020 Capital and Exploratory Spending Program include: In the upstream business, approximately $11 billion is forecasted to sustain and grow currently producing assets, including about $4 billion for Permian unconventional development and about $1 billion for other international unconventional development. “We are positioning Chevron to win in any environment by ratably investing in the highest return, lowest risk projects in our portfolio. “We believe the best use of our capital is investing in our most advantaged assets,” Wirth continued. Words or phrases such as “anticipates,” “expects,” “intends,” “plans,” “targets,” “forecasts,” “projects,” “believes,” “seeks,” “schedules,” “estimates,” “positions,” “pursues,” “assumes,” “may,” “could,” “should,” “will,” “budgets,” “outlook,” “trends,” ”guidance,” “focus,” “on schedule,” “on track,” "is slated,” “goals,” “objectives,” “strategies,” “opportunities,” “poised” and similar expressions are intended to identify such forward-looking statements. Approximately $2.8 billion of planned capital spending is associated with the company’s downstream businesses that refine, market, and transport fuels, and manufacture and distribute lubricants, additives and petrochemicals. said it had not yet taken steps to reduce its workforce. "Today, we have no layoff plans," Chief Executive Darren Woods said. In March, Chevron began offering severance payments to some of its U.S. oil exploration and production employees. As used in this news release, the term “Chevron” and such terms as “the company,” “the corporation,” “our,” “we,” “us” and “its” may refer to Chevron Corporation, one or more of its consolidated subsidiaries, or to all of them taken as a whole.
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