Chevron cuts production outlook to 2017

摘要

New York-Chevron said Tuesday it expected 20% production growth through 2017, when net production should reach 3.1 million b/d of oil equivalent, but the current forecast was lower than last year's due to higher-than- planned asset sales and oil and gas prices. Speaking at the company's annual inves- tor day, CEO John Watson said the company revised down the outlook from 3.3 million boe/d based on portfolio changes, higher oil prices and lower US natural gas prices.