A place where tipping is allowed!

Advertisements

Chevron, Facing Fossil Fuels Glut, Takes $10 Billion Charge

Chevron Corp. is writing down the value of its assets by more than $10 billion, a concession that in an age of oil and gas overabundance, some will not be profitable anytime soon. In the largest write-down by an energy producer in years, Chevron said Tuesday that it was cutting the value of a number…

Chevron Corp. is writing down the value of its assets by more than $10 billion, a concession that in an age of oil and gas overabundance, some will not be profitable anytime soon.

In the largest write-down by an energy producer in years, Chevron said Tuesday that it was cutting the value of a number of properties, notably its U.S. shale holdings in Appalachia, by a combined $10 billion to $11 billion. Chevron is also restructuring its operations to focus on fewer prospects in the face of persistently low natural gas prices,…

Read More

Related articles

Democrats, White House Upbeat After New Talks on Coronavirus Aid Bill

WASHINGTON—Democratic leaders and White House officials sounded cautiously upbeat notes after another round of talks Monday on a new coronavirus aid package, under rising pressure to strike a deal as millions of Americans go without a $600-a-week federal jobless supplement, while President Trump floated potential executive actions. The two sides remain at odds on whether…

China Is Open for Business, but the Postcoronavirus Reboot Looks Slow and Rocky

More than two months after imposing quarantines to counter the coronavirus, China is getting back to work. It is a slow and rocky process, one that rests on the world battling back successfully against the pandemic. With new infections dwindling, factories are restarting, stores are reopening, and people are venturing outdoors. In some ways, China…