Chevron's Global Downstream Restructuring Effort Nears Completion

摘要

Chevron says the downstream restruc- turing effort it launched in January 2010 is now more than 90% complete, and that it expects to wrap the exercise up by the end of next year. Faced with dismal refining and market- ing margins for the foreseeable future, Chevron launched a restructuring initia- tive last year that aimed to pare down its retail and marketing presence, reduce its labor force and rein in costs at its global refining operations (IOD Nov.1'10).