Energy John Watson

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  • *Britain's BP bets on Egyptian gas, Shell on major acquisition. LONDON/ HOUSTON, Feb 7- As oil and gas companies cut ever-deeper into the bone to weather their worst downturn in decades, boards have adopted contrasting strategies to lead them out of the crisis. Britain's BP is betting on offshore gas in Egypt, while Royal Dutch Shell has opted for an alternative route...

  • Jan 29- Chevron Corp reported its first quarterly loss in more than 13 years on Friday despite Wall Street's expectations for a profit, as plunging oil prices eroded profitability across all its divisions. The company posted a fourth-quarter net loss of $588 million, or 31 cents per share, compared with a net profit of $3.47 billion, or $1.85 per share, in the...

  • Chevron last month had already signaled its pain by cutting its 2016 budget by 24 percent to $26.6 billion, part of a strategy to contend with lower oil prices and hunker down for a hoped-for price rebound. "We're taking significant action to improve earnings and cash flow in this low price environment," John Watson, Chevron's chief executive, said in a press...

  • DALLAS— Chevron suffered its first money-losing quarter since 2002 in the final three months of last year, as plunging crude prices chopped more than one-third from its revenue. The company has sold off $11 billion worth of facilities such as pipelines over the past two years and hopes to raise up to $10 billion more with sales through 2017.

  • Dec 9- Chevron Corp plans to slash its budget by 24 percent next year, part of a revamped strategy to rein in spending and position the energy giant to be nimble as oil prices show little sign of rising in the near future. The dramatic cutback in spending is likely to be echoed by other oil majors who will soon release spending plans, with rival ConocoPhillips set to...

  • Oct 30- Chevron Corp is slashing 10 percent of its workforce and sharply paring back its budget, with Chief Executive Officer John Watson giving a downbeat view on Friday of an industry beleaguered by low oil prices. For Chevron, that means cutting its budget by 25 percent next year by spending less in Australia, Angola and the U.S. Gulf of Mexico, where the No. 2 U.S. oil...

  • Oct 30- Chevron Corp, the second-largest U.S.-based oil producer, slashed its 2016 capital budget by 25 percent and said it would lay off roughly 10 percent of its workforce, one of the most-drastic reactions to date to the plunge in crude prices. Chevron said on Friday it plans to spend between $25 billion to $28 billion next year and expects to further slash...

  • *Profit ex-items $2.55/ share, misses $2.83 analysts' view. Increasing output from the wellhead is a struggle for many big oil companies, including Exxon Mobil Corp and Royal Dutch Shell.

  • *Profit of $2.55/ share before items miss analysts' view of $2.83. Nov 2- Chevron Corp posted much lower-than-expected quarterly earnings on Friday as maintenance exacerbated a steady decline in oil and natural gas production and as a huge fire at one of the company's California plants hit the refining business.

  • Nov 2- Chevron Corp posted a 33 percent drop in quarterly earnings as maintenance exacerbated a steady decline in output from oil and natural gas wells over the past year and as a huge fire at one of the company's California plants hit the refining business.