U.S. oil major Chevron Corp said on Tuesday it is evaluating strategic alternatives, including divestment of gas-related assets in Appalachia shale, Kitimat LNG, and other international projects. Chevron, which set a 2020 spending program of $20 billion, said these actions are estimated to result in non-cash, after tax impairment charges of $10 billion to $11 billion in its fourth quarter, with more than half related to the Appalachia shale. Chevron reported a 36% drop in third-quarter profit, hit by lower oil and gas prices and refining margins, and warned higher costs would affect its current-quarter results. …read more
Source:: Yahoo Finance
