Inside these posts: Big Foor project

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Chevron to go ahead with gulf oil project

Chevron Corp. said it would spend $4 billion to develop its Big Foot project in the Gulf of Mexico, even as tougher rules and higher costs loom for deepwater operators.

Chevron, the second-largest U.S. oil company behind Exxon Mobil, has continued to invest in the Gulf of Mexico even as uncertainty over costs and the U.S. government’s new safety regulations linger after the BP Plc oil spill. Get the full story »