On Tuesday, the duration of an appearance in “Squawk Box” of CNBC, Chevron’s CEO, Mike Wirth, minimized the possibility of a recession.
Hey, he acknowledged, however, that the growth was slowing down.
“Does that mean you don’t think we are going to a recession in your plans at this time?” “Squawk Box”, the Coanfrerion Becky Quick asked.
Wirth replied: “You know, there are no signs that we see at this point that we are close or close to a recession. There are signs that can be slowing down. And again, we have to always be prepared for that work work to work to work a lung cycle to work to work to work to work to work to work.
Wirth also promoted the recent president of the Donald Trump agreement caused him to force secondary tariffs on Venezuelan oil, in response to retreat to Chinese and Russian influence while keeping internal prices low through US companies, including.
Later in the segment, Wirth discussed his efforts to increase production in the Gulf of America.
“Mike, let me ask you a little about part of the production that everyone has just announced national projects, because that is a great boost for the administration,” Quick asked. “There is a question about how much sense is at lower energy prices. We had Dan Yergin yesterday, and said that around $ 60, many of these investments do not make so much sense for the main oil companies. You all have just announced yesterday about the production of oil and natural gas that just starting from the Ballymore project in the United States Gulf is the rest for that?
“Yes, so you can think of the US and gas production child of the US or in two different categories,” Wirth replied. “One would be on the high seas as the project we announced yesterday, our third company in the last eight months in the Gulf of Deep Water of America. We will take our production 50% between 2025 and 2026. Shorter cycle activity.
He added: “We saw that the activity slowed down and production responded more quickly. I think it is an area in which we had a price of $ 60 or simply lower, I think you are likely that you see that the activity goes back in this sector, and I think you will do it faster than that, but I think that is really what we should not so much should the activity of deep water.”
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