Shale takes $2 billion hit as Chevron slashes spending

Organic capital and exploration spending reduced by 20% as US supermajor defers short-cycle investments and paces projects not yet under construction

Adjusting budget: Chevron chief executive Mike Wirth
Adjusting budget: Chevron chief executive Mike WirthPhoto: ANDREW MANGUM
Published 24 March 2020, 13:39Updated 24 March 2020, 18:24