(World Oil)– Shell’s return to Angola after a 20-year hiatus highlights a shift in sentiment toward the nation’s oil sector, as reforms aimed at attracting global capital start to show results. Shell, alongside Chevron and Sonangol EP, signed deals with the National Agency of Petroleum, Gas and Biofuels for Block 33 in the Congo Basin, ANPG board member Alcides Andrade
(BOE Report) – Two tankers chartered by Chevron carrying Venezuelan crude reached U.S. waters on Thursday, marking the first U.S. imports of the South American country’s oil following a new license granted by Washington, vessel tracking data showed. The U.S. Treasury Department last month issued a restricted license to Chevron allowing the U.S. company to operate in the OPEC country and export
(BOE Report) – LONDON, Aug 5 – When playing catch up, picking up the pace may not be enough. One also has to hope rivals don’t accelerate. Just ask Europe’s energy majors. Exxon Mobil and Chevron’s bumper oil and gas output in the second quarter served as a sobering reminder to their European rivals of the ferocious challenge the latter face in
(Oil Price)– Venezuela’s crude and fuel exports fell in July by some 10% from June to average 727,000 barrels per day (bpd), as Chevron and other partners of state oil firm PDVSA were waiting for U.S. authorizations to resume operations and exports that were prohibited in May. Venezuela also exported about 227,000 metric tons of oil by-products and petrochemicals last
(Oil Price)– Chevron will transfer part of the oil it produces in Venezuela to the Maduro government, Bloomberg has reported, citing unnamed sources. The deal follows the U.S. granting a sanction exemption to the supermajor so it could continue operating in Venezuela. The terms of the deal are similar to those of other international oil majors operating in Venezuela, Bloomberg’s
(World Oil)– Chevron has appointed John B. Hess to its Board of Directors, the company announced on Tuesday. Hess, 71, served as CEO of Hess Corporation from 1995 to 2025 and as Chairman from 1995 to 2013. He led the company through its strategic transformation from an integrated oil company into a focused global independent exploration and production company. “We
(World Oil)– Chevron Corp. is cutting almost 650 jobs in the Houston area and North Dakota after completing the $53 billion takeover of Hess Corp. The reductions include 575 positions in Texas and 70 in North Dakota, and will take effect Sept. 26, according to a Chevron spokesperson on Wednesday. Chevron formally closed on its acquisition of Houston-based Hess at
(World Oil)– Chevron has completed its $53 billion acquisition of Hess Corporation, having prevailed in an arbitration against ExxonMobil regarding Hess’ offshore Guyana assets, which had delayed the takeover for over a year. offshore operations in Guyana’s Stabroek block. Image: Hess The combined company has one of the most advantaged and differentiated portfolios in the industry, with leading positions in
(BOE Report) – LONDON, July 18 – The high-stakes clash between Exxon Mobil and Chevron over a prized South American oilfield may be a sign of what’s to come in the oil and gas industry as competition for a shrinking pool of prime assets heats up. Chevron is set to finalize its $53 billion acquisition of U.S. rival Hess after the companies prevailed
(Investing) – Venezuelan state-run PDVSA’s oil sales abroad in 2024 stood at $17.52 billion, according to a results document seen by Reuters on Friday, as exports jumped due to U.S. licenses allowing foreign partners to operate in the sanctioned OPEC member. There are no comparative figures from previous years because PDVSA has not published its results since 2016, and it did
(Oil Price)– U.S. supermajors ExxonMobil and Chevron, Indonesia’s state energy firm Pertamina, and other companies from the two countries are expected to sign later on Monday a memorandum of understanding for commodity purchases by Indonesia for a massive $34 billion, an Indonesian official told Reuters. Apart from energy deals and investments, the memorandum will include Indonesian pledges to buy U.S.
(World Oil)– Chevron Corp. and TotalEnergies SE are competing in Libya’s first energy exploration tender since the 2011 conflict, the country’s state-run oil firm said, as the OPEC member looks to oil majors to help ramp up production to a record. Eni SpA and Exxon Mobil Corp. are also among the 37 companies that have lodged interest, with contracts due
