US Chevron plans to cut 2,000 jobs this year

09 March 2010 16:15  [Source: ICIS news]

HOUSTON (ICIS news)--US oil major Chevron plans to cut 2,000 jobs in its downstream refining and marketing operations throughout this year as part of a plan to streamline those businesses, the company said on Tuesday.

"Downstream market conditions are likely to be difficult for the next several years," according to a statement by Mike Wirth, executive vice president of Chevron's global downstream segment.

"We intend to further concentrate our downstream portfolio in North America and Asia-Pacific," he said. "These are markets in which we have our greatest competitive strength."

As part of its plan, Chevron is soliciting bids for its Pembroke refinery in the UK, along with other operations in Europe, the company said. Chevron is also soliciting bids for the Caribbean and select markets in Central America.

In addition, the company is reviewing its operations in Hawaii and in Africa, outside of South Africa, Chevron said.

To discuss issues facing the chemical industry go to ICIS connect

By: Al Greenwood
+1 713 525 2645

For the latest chemical news, data and analysis that directly impacts your business sign up for a free trial to ICIS news - the breaking online news service for the global chemical industry.

Get the facts and analysis behind the headlines from our market leading weekly magazine: sign up to a free trial to ICIS Chemical Business.

Printer Friendly