The leading front-runner to replace Watson is executive vice president Mike Wirth, but the plan has not been finalized and could still change, said the newspaper, citing unnamed sources. A Chevron spokesman said he could not comment on the report. That profile is expected to become more important in a period of lower oil prices that will constrain spending. However, Chevron, like other oil companies slashed its capital budget following a two-year slump in oil prices due to oversupply. Chevron originally announced a 2017 capital budget of $19.8 billion, down 42 percent from 2015.

Source: The Nation Bangkok August 22, 2017 19:41 UTC