feature
securing our future amid the COVID-19 crisis
The COVID-19 pandemic is a trying time for the entire world, in a large part due to the economic impact. But human energy will prevail. At Chevron, it’s the ingenuity, creativity and leadership of our people that makes us strong to withstand this crisis and that will make our future even stronger.
Across the company, we’re taking actions to build more efficiencies that help protect our financial foundation and long-term value, such as using AI technology and data analytics to drive logistics, increase efficiencies and lower costs.
reduction in operating costs
~$1 billion
protecting the
dividend
preserving
long-term value
reduction in capital expenditure
30%
“With an industry leading balance sheet and a flexible capital program, we believe Chevron is resilient and positioned to withstand this challenging environment,” said Chevron Chairman and CEO Michael Wirth. “Given the decline in commodity prices, we are taking actions expected to preserve cash, support our balance sheet strength, lower short-term production and preserve long-term value.”
chevron’s response to COVID-19
Published: May 2020