Chevron CEO Downplays Oil Shortage Worries, Says Supplies Are Available
3/8/2022
HOUSTON (Reuters) — Chevron CEO Michael Wirth downplayed worries over oil supplies saying although global crude oil inventories have been drawn down, oil supplies are not lacking.
Europe's natural gas shortage, which has pushed prices to multiyear highs, has revived talk of a Mediterranean Sea pipeline that could carry gas from Israel to European customers, he said in remarks at the CERAWeek energy conference.
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Pipeline Project Spotlight
Owner:
East African Crude Oil Pipeline Company
Project:
East African Crude Oil Pipeline (EACOP)
Type:
TotalEnergies in discussions with a Chinese company after Russian supplier Chelpipe was hit by sanctions.
Length:
902 miles (1,443 km)
Capacity:
200,000 b/d
Start:
2022
Completion:
2025
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