Chevron (CVX) expects to increase 2011 production 1% to about 2.79
million barrels of oil equivalent per day. The forecast assumes oil at
$79/barrel. UBS said the guidance is in line with analysts estimates and
previous guidance.
CVX production will be driven by startups of Caesar/Tonga
project in the
Gulf of Mexico
, Platong Gas II offshore
Thailand
and
Agbami II in
Nigeria
. CVX
expects to sanction Wheatstone LNG in
Australia
,
Block B gas in
Vietnam
and
Clair Ridge Field in the
U.K.
this
year. Shares
off 1% at $93.85.