Chevron Faces Strike At Its Australian LNG Facilities: Report
Portfolio Pulse from Lekha Gupta
Chevron Corp's Gorgon and Wheatstone LNG projects in Australia, which account for over 5% of global LNG capacity, are likely to face a two-week strike from September 14 due to disputes over pay and conditions. The strike announcement comes amid mediation talks hosted by the Fair Work Commission. ING suggests that the strike could support gas prices and comes at a time when there is ongoing maintenance work at the Norwegian gas field, Troll. Chevron's shares are trading lower by 0.18% at $164.00 premarket.
September 05, 2023 | 11:37 am
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Chevron's Australian LNG projects are likely to face a two-week strike from September 14, which could support gas prices. Chevron's shares are trading lower by 0.18% at $164.00 premarket.
The potential strike at Chevron's Australian LNG projects could disrupt operations and impact the company's revenues. This uncertainty is likely causing the company's shares to trade lower. Furthermore, the strike could support gas prices, which could have a further impact on Chevron's operations and profitability.
CONFIDENCE 90
IMPORTANCE 75
RELEVANCE 100