Cash flow long overdue.
3 replies (most recent on top)
It was to happen 2 years ago by now, and every 6 mo the they announced new delays and over run cost. Given that the concession ends by 2033 and the huge overrun cost as of today, they will be lucky to recover only the extra capital. Basically this is a lost opportunity at this point and it is to save face to get it started. Don't dream on it, Chevron is only reliable on not doing things ontime or on budget.
PBF is to offset loss of well productivity. 3GP will add about 300kbpd production (nameplate) assuming no issues.
The new production adds nothing, it just replaces steep declines. No cash flow.