Chevron exec affirms focus is chemicals, base oil

摘要

Chevron's vice chairman George Kirkland affirmed the major's focus on growing the downstream and chemicals business during Chevron's 2014 annual meeting with stockholders Wednesday in Midland, Texas. Kirkland said that the company's refining and marketing earnings per barrel ranked second among peers. This business also posted 10% return on capital in spite of a challenging environment for the industry. Its growth plans involve Chevron Phillips Chemical projects that take advantage of existing infrastructure and attractive feedstocks. This year, the joint-venture company plans to start up the world's largest on-purpose 1-hexene plant and broke ground on a worldscale ethylene cracker and derivatives unit on the U.S. Gulf Coast.