Chevron To Trim Downstream Biz

At a meeting with financial analysts in New York , U.S. energy behemoth Chevron Corp. (NYSE:CVX) unveiled its business strategy. In particular, the company outlined plans to restructure its struggling downstream (refinery, marketing, and transportation) operation that has seen mounting losses due to weak demand for fuel. Chevron will now focus on growth in Asian markets and in its gas business.
 
The company confirmed its 2010 capital expenditure budget of $21.6 billion, 2.7% lower than a … [visit site to read more]


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