Chevron-texaco reduces capital spend for 2002

摘要

CheronTexaco Corp has announced a US9.4 billion capital and exploratory spending programme for 2002, 22% lower than the combined 2001 spend of the two companies. ChevronTexaco says the 2002 capital and exploratory programme is smaller than the combined 2001 programmes due to merger-related capital efficiencies, including high grading of opportunities, increase use of best practices, and procurement integration.