Chevron Expects Q3 Turnarounds And Downtime To Be Between 150 & 200 Thousand Boe/D
CVX•Chevron quarterly outlook and capex guidance
July 31 (Reuters) - Chevron Corp CVX.N:
- Third quarter turnarounds and downtime are expected to be between 150 and 200 thousand barrels of oil equivalent per day - presentation
- Expects to spend 25% less capex per barrel of oil equivalent in 2026 compared with last year
- Q3 after-tax earnings impacts from downstream turnarounds and downtime are expected to be between $175 million and $225 million
- Now expects to finish the year at the lower end of its guidance range of $18 billion to $19 billion in organic capex
- Affiliate dividends for the third quarter are expected to be approximately $1.5 billion to $1.7 billion
- Remains confident in 2030 objectives
- Outlook for Q3 share repurchases: $2.5 billion to $3.0 billion
- Impact from Middle East conflict remained isolated to the partitioned zone, representing about 1% of Q2 production
- Outlook Q3 TCO loan repayment: $1.0 billion
- In Guyana, cost recovery expected to reduce production as net entitlement interest under the Stabroek PSC decreases
