Energy major Chevron (NYSE:CVX) has halted production at its oil field in the Gulf of Thailand (Benchamas field) following an accident.
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In the accident, a crew member was killed after seawater leaked into the hull of an oil storage vessel. The company added that the incident poses no impact on the environment.
About 13,000 barrels a day of oil are produced at the oilfield along with about 45 million cubic feet of natural gas. At the same time, authorities remain on alert for any potential oil spill from the vessel
Overall, the Street has a consensus price target of $189.42 on CVX implying a 24.3% potential upside in the stock. That’s after a 6.7% slide in the share price over the past month.
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