Chevron Scraps 2015 Share Repurchase Program
Chevron Corp halted its 2015 share repurchase program on Friday, a move to conserve cash amid tumbling oil prices.
The company's shares extended loses on the news, falling nearly 4 to $99 after being down 2.6 percent before the buyback halt was announced.
"Given the change in market conditions, we are suspending our share repurchase program for 2015," Chevron CFO Pat Yarrington told investors on a conference call.
(Reporting By Ernest Scheyder; Editing by Terry Wade)
