Chevron (CVX) Faces Rising Costs and Delays in Tengiz Project

Chevron Corporation (CVX) is reportedly facing significant cost increases and schedule setbacks in its ambitious project to boost oil production at the Tengiz field in Kazakhstan. According to sources, the total project expenditure is now projected to reach $48.5 billion, marking a steep rise from the initial budget of $37 billion.The Budgetary Expansion: Insights and ImplicationsDuring its third-quarter earnings report in October, Chevron disclosed an upward revision in the budget allocated for the Tengiz ...