Chevron Sets 2020 Upstream Budget, Writes Down At Least $10 Billion
The US major will keep its overall budget flat for a third straight year, but the expectation of lower oil and gas prices long-term will result in tax impairment charges of $10 billion–$11 billion. More than half of those charges will come from its Appalachia Shale gas assets.
Global Energy Demand in 2018 Grew at the Fastest Pace This Decade
Natural gas accounted for almost 45% of global demand growth last year.
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