28 October 2011 19:00 [Source: ICIS news]
HOUSTON (ICIS)--Chevron is focussing on key chemicals and lubricants projects as it seeks to further improve the performance of its downstream portfolio, an executive with the US-based energy major said on Friday.
“We are optimising our business focus, moving investment into higher-return business segments,” Mike Wirth, Chevron’s executive vice president, down stream and chemicals, told analysts during the company’s third-quarter results conference call.
Wirth highlighted four key chemicals and lubricants projects, two of which are being realised by Chevron Phillips Chemical (CPChem), Chevron’s petrochemicals joint venture with ConocoPhillips.
“CP Chem has a very strong existing position in this market, and a competitive advantage in the ability to run a lighter feed slate, with more ethane than the industry in general,” Wirth said.
“We are confident that CPChem has a leg up on the right kind of project to deliver strong returns,” he added.
Also in the
In addition, Chevron plans to further expand its Oronite specialty chemical and lubricants additives plant in
Meanwhile, Chevron has signed agreements in
This year, Chevron exited downstream operations in 21 countries, primarily in Africa, the Caribbean and
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