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BRIEF-Chevron says renegotiated contracts to save $900 mln this year
2015年5月1日 / 下午4点13分 / 3 年前

BRIEF-Chevron says renegotiated contracts to save $900 mln this year

May 1 (Reuters) - Chevron Corp

* Says production in partition zone between Kuwait, Saudi Arabia could be hurt by inability to get work permits, supplies

* CFO says first gas turbine running now at Gorgon LNG project in Australia

* CFO says topside installed on platform at Wheatstone LNG project in Australia

* CFO says has sold roughly $4 billion in assets during first four months of year

* CFO: ‘We will continue to sell assets when we can generate good value’

* CFO says board chose to not raise dividend in Q2 due to low oil prices, said mirrored situation during 2008, 2009

* CFO: ‘Maintaining a competitive and growing dividend is our number one priority’

* CFO says any potential acquisitions would have ‘Pretty high hurdle’ to be considered, as would have to compete for capital with existing growth projects

* Cuts number of rigs in Permian shale

* CFO says will operate 21 rigs in Permian this year, down from previous estimate for 25 rigs

* CFO says plans to complete 325 gross wells in Permian shale this year, down slightly from previous estimates

* Chief Financial Officer Pat Yarrington says contract negotiations with vendors expected to save $900 million this year

* CFO sees ‘complete reshaping’ of oil markets in past six to nine months

* CFO says important to see ‘where things shake out long term’ in global oil markets before dividend raise

* CFO says ‘not unreasonable’ to assume Chevron Phillips Chemical joint venture with ConocoPhillips would go into debt market to fund growth opportunities

* CFO says the Gorgon LNG gas turbine currently operating is using gas from domestic sources

* CFO says still expects to start Gorgon LNG project in third quarter

* CFO says still expects first commercial LNG cargo from Gorgon by end of year

* Says Wheatstone LNG project remains ‘on schedule’

* CFO says expects final investment decision this year on expansions at Tengizchevroil project in Kazakhstan

* CFO says still plans to restart Angola LNG project in late Q4 when LNG moves to tank

* CFO says expects Angola LNG project to be operating at 75 percent of capacity in Q1 2016

* CFO says still expects to spend $35 billion this year, evenly distributed between all four quarters Source text for Eikon: Further company coverage: (Reporting By Ernest Scheyder)

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