
Chevron, Total others slash production, cut assets by $50bn
EnergyMix The world’s five largest oil production companies collectively cut the value of their assets by nearly $50 billion in the second quarter, and slashed production rates as the COVID-19 pandemic caused a drastic fall in fuel prices and demand. The five majors, which include Chevron Corp, Royal Dutch Shell and Total SA, also cut capital expenditures by a combined