Chevron starts $48 billion Kazakh oilfield expansion
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Chevron has commenced production at a $48 billion expansion of the Tengiz oilfield, which will contribute approximately 1% to the global crude supply.
January 24, 2025 | 11:45 am
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Chevron has started production at the expanded Tengiz oilfield, a $48 billion project expected to add about 1% to global crude supply.
The expansion of the Tengiz oilfield is a significant development for Chevron, as it represents a major investment and will increase the company's oil output. This is likely to positively impact Chevron's stock price in the short term due to the increased production capacity and potential revenue growth.
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