Chevron to Increase 1/5th Output by End of 2017

Bloomberg reported that Chevron Corp. (NYSE:CVX) has decided to increase its oil and natural-gas output by one-fifth by 2017.

As quoted in the market news:

The increase to the equivalent of 3.3 million barrels of daily production will come from the $37 billion Gorgon liquefied natural gas complex in Australia as well as deep-water, heavy- oil and unconventional projects such as shale gas, Vice Chairman George Kirkland said at the company’s analyst conference today in New York.

Click here to read the full Bloomberg report.