Chevron flagged on Tuesday that it would take an up to $4 billion impairment in the fourth-quarter results, due to impairments to U.S. upstream assets in California and the Gulf of Mexico. The continuing regulatory challenges in California have made Chevron revise down its planned investments in the state, the U.S. supermajor said in an SEC filing on Tuesday. In addition, Chevron will also impair a portion of previously sold oil and gas production assets in the U.S. Gulf of Mexico because some of the buyers of those assets have…
