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Chevron puts large depreciation in books

The American oil and gas group Chevron is going to write off up to 11 billion dollars on gas activities due to the clear fall in gas prices. The write-off is largely due to gas activities in the Appalachia region, in the eastern United States.

Chevron is also looking at the sale of gas fields, while the company wants to keep its capital investments for 2020 at around 20 billion dollars. Other oil-related companies such as Schlumberger and Repsol have also recently made large depreciations on gas activities.

Appalachia is a region that stretches from the south of the state of New York to the southern states of Alabama, Mississippi and Georgia

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