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Chevron looks to centralize operations as part of $3 billion cost-reduction strategy

Chevron looks to centralize operations as part of $3 billion cost-reduction strategy

by Offshore Reporter | Jul 9, 2025 | Offshore

Chevron is reducing local and regional business units in favor of a more centralized model to improve performance and cut as much as $3 billion of costs by 2026. Changes will include single divisions for both offshore and shale operations, says Vice Chairman Mark Nelson.

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Chevron looks to centralize operations as part of $3 billion cost-reduction strategy

Latest News

TotalEnergies farms out 40% of OPL257 offshore Nigeria to SAPETRO

BW Energy pulls capex guidance as rig loss stalls Gabon drilling

Brazil’s ANP overhauls rules for assigning E&P contracts, scraps partnership review committee

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