Wayne. Thanks, Alright.
I Before we you get ones loved are and started, hope and your healthy. safe
Our with the the all battling families especially on workers COVID-XX the frontlines and the thoughts are healthcare contain everyday affected with to by outbreak.
who out provide particularly of services every goods employees They I’m the flowing show that up in too, essential support are field, to facilities also response those incredibly the critical energy pandemic and in operating supports day, to keeps the economy. grateful and the heroes. our
security one analysts for to No And action for it. demonstrate in Chevron’s We market prepared we but what and us it doing them. execute are we this to we is five resilience. know we now conditions, were it discussed these do, time our as plan. specific foresaw During March, meeting point
and on are employees the focused operations. foremost, we and First safety of our our
flexibility capital Today, program. our we the lowering in guidance. are our further exercising full-year Next, we are
an balance into also in always year taking came to we drive capital this restructuring to actions addition additional and strength. business. this We to structure financial crisis leading matter year, matters. next. costs commodity expect sheet, last a Capital and We maintain are we In company a industry intended initiated and with major savings
the conditions, stakeholders. will in market current shareholders, this slides and and reliable Slide long-term to employees, are X. beginning other on for operations action safe speak each I plan of following with we addressing preserving element value while Lastly,
cases our Most are confirmed to nearly to based virus than of workplace. and employees appear with fewer been all work-from-home. had of XX employees cases office the have We have outside the able contracted
or For those who hygiene have continue field, we and at multi-layer distancing, protocols. PPE working implemented screening, in the facilities
Our COVID-XX capability ramping is up. testing
of our can things other helping manufacture our communities like in are and shields. with XD plants printed donations we money, sanitizers PPE Finally, we face and
well Where In prioritizing demand. possible, downstream, are equity system, to for our into refining product plans refineries our capacity significantly running we meet are lower re-optimizing crudes our turnarounds. and below
between May rig be by about to expect upstream, curtail we count barrels June. in of expect end oil production equivalent we will by down XXX,XXX XX% quarter. this the to In thousand In the of continue curtailments and
Despite logistics challenges LNG have supply functioning some chains no major contract have disruptions. been sales unaffected. been our with
We solutions. on our working are risks with them suppliers closely win-win monitoring and financial to
Despite update on shipments give Kazakhstan. and in will the Now major an early we project of on out remain COVID Korea, our the outbreak schedule. in yard underway fabrication module fabrication
and In seven to the fact, in quarter. scheduled modules this depart yard all only are remain
said, That schedule GIS six in April. and of well was than XXX triggered the the movement pandemic positive GIS the camps end and modules of progressing the more in residential of presenting in the Restacking cases on ahead changes. XX and of at Restrictions COVID is XX challenges. is goods of people have
non construction are critical path path demobilizing temporarily proceed, we critical While personnel. activities
it this of quantify early degree to impact is schedule, to in costs result, a As we but any meaningful way. too project and anticipate some
due billion forecast our activity, the share Our has to by mitigations capital currency expected project reduced for about expenditures of and cost $X to XXXX deferred benefits. been
as guidance March. $XX full-year announced from our to low our are Turning we outlook, XXXX in as $XX capital to capital overall down lowering billion further organic billion
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current In market expect due Slide and other levels, year lower of response reduce to to X. this to to conditions, reduced Turning fuel about operating we activity relative costs XXXX, to $X discretionary curtailment costs billion expenditures. by
year, current next to the is our outlined at Beyond well. analysts progressing initiative another by security $X the OpEx lower billion meeting year
corrections. portion year expect the already on place working from We be before come further cost end. of during quarter, A reductions we Costs in pace these reality. to this conditions with with today’s the often where by keep to and organization savings restructuring, will streamlined design lag finalized market began intend were
next shows a under the test sources and of slide. print. with $XX stress left uses Turning on The prices our two year cash estimated the chart to of sustained
repurchase suspend capital balance lower down to the our pull will flex and reduce the decision Our program, sheet. costs on
one we Chart which our right All priorities. peers. are vital capacity to shows the debt on test have better actions our weather this is with the protect the number know to stress shareholders. we than our dividend our long financial to standing is And consistent
Turning X. fifth value. And of preserving plan, action long-term element to Slide the our
take to assets have safe and reliable. are the that focused lower, on already Projects ensure flexibility efficiently to we construction the existing capital are While completed. under even we right are spending
priorities. for ESG and commitment Operational our the technical capabilities maintained. to options and we are future Investment preserved are maintain
industry execute During isn’t key how is a downturn, it. playbook you our the secret. a market in The
coming choices, are long-term the crisis. And to winners peers. balancing right intend made in exit choices that the right flow we We among make value. ones the cash into position best our short-term this the best and The
that, I to will Pierre. With it over turn
