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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 completes UK North Sea merger, creating largest independent producer

Chariot funds Angola offshore acquisition, secures stake in Block 14 production

Serica completes TotalEnergies asset deal, establishes West of Shetland gas hub

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