Monday, February 10, 2025
Refiner Phillips 66 cuts spending forecast by 18%, commits to dividend- oil and gas 360

Refiner Phillips 66 cuts spending forecast by 18%, commits to dividend

Reuters Refiner Phillips 66 (PSX.N) on Tuesday cut its 2020 spending forecast by about 18% and assured investors their dividend was secure even as the coronavirus outbreak and a price war between Saudi Arabia and Russia threaten the oil market with massive oversupply. As U.S. crude prices last week touched their lowest point in nearly two decades, oil and gas

Chevron CEO says the dividend is the company’s No. 1 priority and is ‘very secure’- oil and gas 360

Chevron CEO says the dividend is the company’s No. 1 priority and is ‘very secure’

CNBC Chevron shares surged Tuesday after the company announced cost-cutting measures, but promised not to slash its dividend despite mounting pressure from falling crude prices. “Our dividend is our number one priority and it’s very secure,” Chevron CEO Michael Wirth said Tuesday on CNBC’s “Squawk Box.” “We’re taking actions to preserve cash. It will have some impact on production in the near