Chevron to Come Out Even this Quarter
Many big oil companies have seen the effects of low oil prices. Chevron is no different, and has seen these effects first hand. Despite the effects of low oil prices, the company has made some adjustments in order to maintain even checks and balances this quarter. Reuters explains how Chevron was able to maintain the standard from second quarter.
" Chevron’s international oil-equivalent production fell to 1.93 million barrels per day (bpd) in the first two months of the quarter from 2 million in all of the second quarter, the company said in its quarterly interim update Tuesday.
Chevron said this drop largely reflected a now-remediated third-party pipeline incident in Thailand and planned work in Kazakhstan and Britain, predicting better production this quarter as these effects disappear and new output is added.
Average U.S. production in July and August fell to 676,000 bpd from 694,000 in the second quarter, it said, blaming that on maintenance work in the Gulf of Mexico."
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