LNG

Jan 27 - Chevron Corp. Chief Executive John Watson said the Wheatstone LNG project in Western Australia was "the largest component of our reserve adds this year." His comment about the LNG venture was the most prominent in the company's earnings statement. Watson added that the US major "took another important step forward in our efforts to commercialize the company's significant natural gas resources with the start of construction at Wheatstone," for where the company also announced "two additional natural gas discoveries in the Carnarvon Basin that will help underpin future LNG expansion opportunities."