Chevron expects $10 billion-$11 billion charge in fourth quarter

(Reuters) - U.S.

Reuters December 11, 2019 04:06:35 IST
Chevron expects $10 billion-$11 billion charge in fourth quarter

Chevron expects 10 billion11 billion charge in fourth quarter

(Reuters) - U.S. oil major Chevron Corp said on Tuesday it is evaluating strategic alternatives, including divestment of gas-related assets in Appalachia shale, Kitimat LNG, and other international projects.

Chevron, which set a 2020 spending program of $20 billion (£15.59 billion), said these actions are estimated to result in non-cash, after tax impairment charges of $10 billion to $11 billion in its fourth quarter, with more than half related to the Appalachia shale.

(Reporting by Arundhati Sarkar in Bengaluru; Editing by Sriraj Kalluvila)

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