Chevron (CVX +0.4%) is unlikely to seek protection against swings in the Australian dollar that...

|About: Chevron Corporation (CVX)|By:, SA News Editor

Chevron (CVX +0.4%) is unlikely to seek protection against swings in the Australian dollar that have intensified cost pressures at its Gorgon liquefied natural gas project, CEO John Watson tells Dow Jones. CVX said last month it was reviewing Gorgon's cost following a 20% rise in the Australian dollar since construction began in 2009; around half the project's costs are in local currency.