You are here

Chevron suspends share buybacks for 2015 amid crude's collapse

Saturday, January 31, 2015 - 00:19

Chevron Corp said it is suspending its share repurchasing program for 2015 as the drop in global oil prices squeezes cash flow. The shares dropped as much as 2.8 per cent.

Chief financial officer Pat Yarrington announced the suspension during a conference call with investors and analysts on Friday. The San Ramon, California-based company spent US$5 billion on buybacks in 2014.


Market voices on:

Pair your daily business read with the perfect cup of espresso.

Subscribe to The Business Times today to receive your very own Nespresso Inissia coffee machine worth $188.

Find out more at

Powered by GET.comGetCom