Chevron and other energy companies have pledged to curb spending after the collapse in oil prices earlier this decade forced many to borrow to cover costs of long-term projects. The oil major said it had the potential to distribute between $75 billion and $80 billion over the next five years and would maintain its capital spending in a range of $19 billion to $22 billion annually through the period. “We remain focused on a returns-driven approach to capital allocation, investing in lower-risk projects,” Chief Financial Officer Pierre Breber said. …read more
Source:: Yahoo Finance
