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Share Name | Share Symbol | Market | Type |
---|---|---|---|
Chevron Corporation | NYSE:CVX | NYSE | Common Stock |
Price Change | % Change | Share Price | High Price | Low Price | Open Price | Shares Traded | Last Trade | |
---|---|---|---|---|---|---|---|---|
-0.33 | -0.21% | 160.40 | 160.66 | 157.04 | 160.58 | 11,780,661 | 01:00:00 |
By Simon Clark and Selina Williams
ASTANA, Kazakhstan--A Chevron Corp-led consortium is set to invest up to $37 billion to increase output at its core Tengiz oil field in Kazakhstan, the country's energy minister Kanat Bozumbayev said in an interview Wednesday.
The investment represents one of the first big commitments by a large oil company to spend on new crude production following a two-year-long slump in oil prices that has crushed revenue and profit and forced companies to rein in investments.
The Tengiz oil field is one of the world's biggest oil fields and a key source for Chevron's growth in crude output in the next few years.
Chevron wasn't immediately available for comment.
Write to Simon Clark at simon.clark@wsj.com and Selina Williams at selina.williams@wsj.com
(END) Dow Jones Newswires
May 25, 2016 05:08 ET (09:08 GMT)
Copyright (c) 2016 Dow Jones & Company, Inc.
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