Chevron to focus on cash and lock in spending cuts
Investors will want to know what CEO Mike Wirth plans to do with the windfall from 2021’s rally in oil prices
09 March 2021 - 19:17
Houston — US oil major Chevron outlined plans to boost free cash flow and investor returns as it locks in 2020’s spending cuts through to the end of 2025.
The company said on Tuesday ahead of its annual investor presentation that it will double returns on capital employed and increase free cash flow by 10% annually over the next four years. Those targets assume a Brent oil price of $50, far lower than current levels...
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