Chevron Corp, the second-largest U.S.-based oil producer, said on Friday its oil and natural gas reserves fell 1 percent last year largely due to the sale of its stake in a Chad oil field. The company had proved reserves of 11.1 billion barrels of oil equivalent on Dec. 31, about 1 percent lower than a year earlier. Even as Chevron has five major projects coming online by the end of the decade, dwindling reserves have become a key concern for international energy companies, many of which have massive capital budgets to find and extract oil and natural gas. San Ramon, California-based Chevron is also grappling with plunging crude oil prices , which Chief Executive John Watson […]