Gas Prices Jitters As Strikes Start At Major Chevron Australia LNG Projects
Portfolio Pulse from Vandana Singh
Workers at Chevron Corporation's (NYSE:CVX) LNG projects in Australia have gone on strike, potentially disrupting exports and raising LNG prices. The strikes began at Chevron's Gorgon and Wheatstone facilities, which accounted for about 7% of global LNG supply last year. If no deal is reached by next Wednesday, the workers plan to stop work completely for two weeks starting September 14. Woodside Energy Group Ltd (NYSE:WDS) was also initially threatened with strikes, but reached a settlement with its workforce.
September 08, 2023 | 1:15 pm
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POSITIVE IMPACT
Woodside Energy Group Ltd was initially threatened with strikes, but reached a settlement with its workforce, potentially avoiding any negative impact on its operations and stock price.
Woodside Energy was initially threatened with strikes, but reached a settlement with its workforce. This could potentially avoid any negative impact on its operations and stock price.
CONFIDENCE 80
IMPORTANCE 60
RELEVANCE 50
NEGATIVE IMPACT
The strike at Chevron's LNG projects in Australia could disrupt exports and raise LNG prices, potentially impacting Chevron's revenues and stock price.
The strike at Chevron's LNG projects could disrupt exports and raise LNG prices. This could lead to a decrease in revenues for Chevron, which could negatively impact the company's stock price.
CONFIDENCE 90
IMPORTANCE 80
RELEVANCE 100