Chevron raises Gorgon cost estimate to $52B, warns on production delay, FT says

Chevron (CVX) raised its cost estimate on its Gorgon liquefied natural gas venture by $15B, from $37B to $52B, citing a combination of rising labor costs, poor productivity, logistics, bad weather and the strong Australian dollar, reported Financial Times. Chevron also warned that initial production could be delayed, according to the report.