Chevron CEO Michael Wirth is confident he'll win a battle with Occidental Petroleum, keeping a $5 billion buyback program on track.
Chevron's plans to boost its buyback program by $1 billion depends on the oil giant winning a battle with Occidental Petroleum to take control of Anadarko, the company's chairman and CEO, Michael Wirth, confirmed Friday.
"The step up to $5 [billion] was a signal that this deal makes us even stronger," Wirth told analysts during a conference call Friday. Once the transaction is complete, Chevron intends to resume the purchases at a rate of $1.25 billion each quarter, he said. "Of course the answer to that is yes there is," Wirth said."This isn't the time to address that specifically, but we've said we will do things that are value-creating for our shareholders. And we don't need to do anything. We've got a very strong story without doing a transaction."
Malaysia Latest News, Malaysia Headlines
Similar News:You can also read news stories similar to this one that we have collected from other news sources.
Uber sets terms for IPO, posts $1 billion first-quarter lossRide-hailing company Uber Technologies Inc is aiming for a valuation of up to $9...
Read more »
Uber estimates it lost at least $1 billion in the first quarter of 2019The company's amended IPO filing Friday included our first look at its 2019 financials.
Read more »
300 Investor Rejections And 1 Failed Startup Led This Entrepreneur To Build A $1 Billion BusinessEntrepreneurship can be more than a marathon. It’s a decathlon. Knowing when to quit or persist can be an art. Raising funding for a startup can be a formidable game. Henry Ward is an entrepreneur who knows this all too well.
Read more »
Microsoft market cap touches $1 trillion, pulls above AppleMicrosoft Corp's market value vaulted above the $1 trillion mark for the fi...
Read more »
300 Investor Rejections And 1 Failed Startup Led This Entrepreneur To Build A $1 Billion BusinessEntrepreneurship can be more than a marathon. It’s a decathlon. Knowing when to quit or persist can be an art. Raising funding for a startup can be a formidable game. Henry Ward is an entrepreneur who knows this all too well.
Read more »
Microsoft becomes a $1 trillion company after reporting earnings that blew away Wall Street estimatesMicrosoft is within striking distance of a $1 trillion market cap, making its quarterly earnings more important than ever.
Read more »
Microsoft heads toward $1 trillion valuation after earningsMicrosoft Corp. shares rose in the extended session Wednesday, pushing the tech giant toward a $1 trillion valuation as cloud growth continues to boost the...
Read more »
Microsoft tops $1 trillion as it predicts more cloud growthMicrosoft Corp on Wednesday briefly topped $1 trillion in value for the first ti...
Read more »
Microsoft hits $1 trillion market cap after earnings beat estimatesMicrosoft kicked off tech earnings season and the stock jumped after revenue topped estimates.
Read more »