Can Chevron Break Out?
T = Trends for a Stock’s Movement
Chevron engages in petroleum, chemicals, mining, power generation, and energy operations worldwide. The company operates in two segments: upstream and downstream. The upstream segment is involved in the exploration, development, and production of crude oil and natural gas, while the downstream segment engages in refining crude oil into petroleum products. Through its segments, Chevron is able to provide a range of energy products and services to a wide variety of companies around the world. As economies and businesses expand, Chevron is poised to provide the energy products and services required to fuel growth around the world.
Chevron’s multi-billion dollar Indonesia Deepwater Development gas project is facing a delay of up to 18 months, according to the country’s oil and gas minister, pushing expected production startup for the project past 2016. Chevron has said it plans a final investment decision for the project in 2014 but is subject to the timing of government approvals. Daily production from the project is expected to peak at 1.1B cf of natural gas and 31K bbl of condensate.