(Oil & Gas 360) – HOUSTON–(BUSINESS WIRE)–Chevron Corporation (NYSE: CVX) announced today that it started oil and natural gas production from the Ballymore subsea tieback in the deepwater Gulf of America. Ballymore, the latest in a series of Chevron projects to start up in the past year, represents another step towards the company’s goal to produce 300,000 net barrels per day of
(Investing) – HOUSTON- At least two vessels carrying Venezuelan crude chartered by Chevron (NYSE:CVX) are now stalled in Venezuelan waters due to state oil company PDVSA canceling their export authorizations after the U.S. imposed secondary tariffs on the OPEC member’s buyers, two sources with knowledge of the matter said on Friday. The U.S. oil producer awaits customs paperwork to return the
(Oil Price) – Chevron will boost the so-called triple fracs — fracturing three wells with one frac spread at one time — to more than half of its wells in the Permian basin, a Chevron executive told Reuters, amid efforts to reduce the costs and times of fracking at the world’s top shale basin. Chevron plans to use triple-frac on
(World Oil) – (Bloomberg) – Chevron Corp., YPF SA and other oil drillers are planning a major Argentine pipeline to handle rising output from the Vaca Muerta shale region. The companies, through the Oldelval SA joint venture, are in talks to increase oil-shipping capacity from Puesto Hernandez, a promising drilling zone more than 100 kilometers (62 miles) distance from the
(World Oil) – Chevron has closed on a deal to sell a 70% interest in its East Texas shale gas assets to an affiliate of TG Natural Resources LLC (TGNR), a company indirectly owned by Tokyo Gas and Castleton Commodities International LLC (CCI), for $525 million, with $75 million paid in cash and $450 million as a capital carry to fund
(Oil Price) – U.S. supermajor Chevron has expressed interest in oil and gas exploration in two additional offshore blocks south of the Greek island of Crete, Greece’s Ministry of Energy and Environment said on Wednesday. Earlier this year, Greece said that Chevron had expressed interest in exploring the area southwest of the Peloponnese peninsula and to the west of the island of Crete. Now, Chevron
(Oil Price) – President Donald Trump is considering extending Chevron’s sanction waiver for Venezuela, which he earlier this year refused to do, letting the waiver lapse, the Wall Street Journal has reported, citing unnamed sources familiar with developments. Per the report, the possibility of extending the waiver arose during Trump’s meeting with oil and gas executives in the White House on Wednesday.
(Yahoo Finance) – Chevron purchased about 4.99% of Hess Corp’s common shares this year, the oil giant said in a regulatory filing on Monday. Chevron said the stock purchase reflects its continuing confidence in completing the pending acquisition of Hess. In October 2023, Chevron agreed to acquire Hess in an all-stock deal valued at $53 billion, gaining a stake in Guyana’s
(World Oil) – Venezuelan oil contractors are continuing their work with Chevron Corp. and have not been warned of an impending shutdown despite a U.S. government deadline to stop producing oil there by early April. Local service companies working for three of Chevron’s joint ventures with state-owned Petroleos de Venezuela SA have not slowed down work, according to five people
(Investing) – WASHINGTON – U.S. President Donald Trump’s administration said on Tuesday it is ending a license that it had granted to U.S. oil producer Chevron (NYSE:CVX) since 2022 to operate in Venezuela and export its oil, after Washington accused President Nicolas Maduro of not making progress on electoral reforms and migrant returns. Chevron will have through April 3 to wind
(World Oil) – U.S. President Donald Trump said he plans to revoke an oil license to operate in Venezuela, citing the country’s failure to take back migrants to the U.S. as quickly as it promised. The U.S. president referred to a concession agreement from November 2022, which would match the date that Chevron Corp. was granted a license to produce and
(Oil Price) – Chevron Corp. (NYSE:CVX) has announced that it will lay off 15-20% of its global workforce and reorganize its business structure. The U.S. oil and gas major announced that it will consolidate its Oil, Products & Gas segment into Upstream and Downstream, Midstream & Chemicals segment, and be led by Mark Nelson, the current executive vice president of the Oil, Products &
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