BP, Chevron and others told to cut production to help OPEC+ effort - WSJ [Seeking Alpha]
Chevron Corporation (CVX)
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EnergyBP, Chevron and others told to cut production to help OPEC+ effort - WSJApr. 30, 2020 11:58 AM ET|BP p.l.c. (BP)Carl SurranMajor oil producing companies includingCVXOXYRDS.ARDS.Bnegotiating production cuts with oil-rich countriesSaudi Arabia and Russia ended their price war earlier this month and joined with OPEC+ in agreeing to cut global output by ~13 M bbl/day, and big oil companies that produce in those countries are being told to shoulder some of those cuts.Nigeria's government says it has reached out to Chevron and Shell, Oman has ordered Occidental to cut production at its fields by a combined 58K bbl/day, and BP has been asked to reduce output in locations including the Middle East, Angola and Azerbaijan.Chevron says its 50%-owned venture in Kazakhstan "continues to produce according to the business plan," and the company says it was working with its Nigerian partners to "explore ways of reducing costs and adjusting production."Roughly half of the barrels BP pumps annu
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