Chevron Cuts Layers, Eyes Guyana and Growth

Chevron Cuts Layers, Eyes Guyana and Growth

Cost-cutting among energy companies is all the rage today. Oil prices are stable, but memories of recent devastation are still fresh, so Big Oil is cutting costs to stay in shape. One way to do it: centralize operations, which is what Chevron is doing right now. The idea is straightforward: simplicity is cheaper than complicatedness. So Chevron is going simpler by having just one global offshore business division manage all of its offshore opera…

Chevron Shifts From Local to Centralized Hubs to Cut Costs - Energy News, Top Headlines, Commentaries, Features & Events

By Kevin Crowley and Nathan Risser Chevron Corp. is reducing local and regional business units in favor of a more centralized model to improve performance and cut as much as $3 billion of costs by 2026. A single offshore division will operate assets in the US Gulf, Nigeria, Angola and Eastern Mediterranean while shale assets ...

Chevron Shifts from Local to Centralized Hubs to Cut Costs

Chevron is reducing local and regional business units in favor of a more centralized model to improve performance and cut as much as $3 billion of costs by...