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Conditions for Portsmouth, NH, US

3 mph W | 0.005 mi
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Fri Sat
34°F/14°F 18°F/7°F
Sunrise / Sunset:
7:01 am / 4:52 pm
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By Ernest Scheyder WILLISTON, N.D. (Reuters) - Chevron Corp halted its 2015 share repurchase program on Friday, a move designed to conserve cash amid tumbling oil prices and its latest cost-cutting step after slashing capital spending. Chevron repurchased $5 billion worth of shares in 2014. "Given the change in market conditions, we are suspending our share repurchase program for 2015," Chevron Chief Financial Officer Pat Yarrington said on the call. Chief Executive Officer John Watson said Chevron's dividend, currently $1.07 a quarter, remained the "highest priority" for the company's balance sheet.
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