Chevron “has contracted Martin Lovegrove to an advisory position within the company,” Gareth Johnstone, a Chevron spokesman, said in an e-mail. He will assist with “business development activities.”
Lovegrove was Citigroup’s chairman for global energy until departing the New York-based bank earlier this year. He advised on transactions including Cnooc Ltd.’s $15.1 billion acquisition of Canada’s Nexen Inc., the largest-ever foreign takeover by a Chinese company.
San Ramon, California-based Chevron is spending $36.7 billion this year on exploration, export terminals and refinery upgrades after oil and gas output hit a four-year low in 2012.
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