Falling construction costs have prompted Chevron to slow the pace of building at its massive 25,000 barrel per day Pascagoula, Miss., base oil project. Brent Lok, base oil marketing and new business development manager, said to look for completion in 2013 instead of 2011; that is, up to 18 months later than originally anticipated.rnLok emphasized Chevron was not downing tools, "we're just slowing down the pace." The company wants to manage costs, he noted. "Right now, it's a much better cost environment, much more of a buyers' market, and we want to take advantage of that to lower the cost of the facility."
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