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Chevron to Slash Budget Over Two Years to Save Cash

2016-03-08 16:07:13| Energy - Topix.net

Oil and natural gas producer Chevron said on Tuesday it will slash its budget by at least 17 percent for the next two years to save cash as crude prices sit near 10-year lows. The outlook from one of the world's largest oil companies highlights the unease permeating the energy industry as executives try to contend with what many are forecasting to be crude prices below $50 per barrel through at least the end of the decade.

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