Watson: Chevron is waiting for the right investment opportunity

01/29/2012 | Fox Business

Chevron is saving its large cash reserves for the proper acquisition opportunity, Chairman and CEO John Watson said. "We are opportunistic when it comes ... to [adding] to the portfolio, and we want to be in a position of having sufficient resources to be able to take advantage of an opportunity," Watson said to investors. Chevron's global capital projects and its yearly dividend payout are the company's financing priorities, Watson added.

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