(Reuters) – Chevron said on Tuesday it would record an impairment to a portion of its U.S. upstream assets, primarily in California, as continuing regulatory challenges in the state have resulted in lower anticipated future investment levels in its business plans.
The company said it expects to take non-cash, after-tax charges of $3.5 billion-$4 billion in the results of fourth quarter 2023.
(Reporting by Arunima Kumar in Bengaluru; Editing by Krishna Chandra Eluri)
