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Chevron Corporation Reopening Storage Tanks


Chevron Corporation (NYSE:CVX) has decided to reopen its mothballed fuel storage tanks in New Zealand.

Chevron Corporation Reopening Storage Tanks

The US based oil giant Chevron Corporation (NYSE:CVX) is reopening its fuel storage tanks and terminal in Timaru after six months of diesel shortages in South Canterbury.

The company also said that it is investing an additional $4 million to upgrade its 20-million-litre petrol and diesel storage site at the Timaru port.

Peter Morris, general manager of Chevron Corporation (NYSE:CVX) New Zealand said, “sustainable fuel supplies in South Canterbury had been a key aspect of the company’s network review and it saw the importance and growth potential of the region.”

Chevron Corp. (NYSE:CVX) shares were at 106.20 at the end of the last day’s trading. There’s been a 2.2% movement in the stock price over the past 3 months.

Chevron Corporation Reopening Storage Tanks
Chevron Corp. (NYSE:CVX) Analyst Advice
Consensus Opinion: Moderate Buy
Mean recommendation: Error
(1=Strong Buy, 5=Strong Sell)
3 Months Ago: Error
Zack’s Rank: 4 out of 19 in the industry


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