Post Tagged with: "chevron"

Source: CNBC

Chevron CEO says the dividend is the company’s No. 1 priority and is ‘very secure’

CNBC


Chevron shares surged Tuesday after the company announced cost-cutting measures, but promised not to slash its dividend despite mounting pressure from falling crude prices.

“Our dividend is our number one priority and it’s very secure,” Chevron CEO Michael Wirth …

Malampaya with depletion compression platform and bridge; Source: Shell

Chevron closes sale of gas project in Philippines

Off Shore Energy


Philippines-based Udenna Corporation has completed the acquisition of Chevron’s interest in Service Contract 38 in the Philippines, also known as the Malampaya natural gas project.

Udenna’s subsidiary, UC Malampaya Philippines Pte Ltd., in October 2019 signed a …

Source: Reuters

U.S. oil boom vs Europe’s renewables focus? Big Oil’s gap widens — in words

Reuters


NEW YORK/LONDON  – Exxon and Chevron boasted to investors this week about booming U.S. oil production, illustrating how the gap has widened – at least in words – between top American oil and gas companies and their European rivals …

Source: Houston Chronicle

Chevron leans on Permian to Shower $80 billion on investors

Houston Chronicle


Chevron Corp. plans as much as $80 billion in dividends and share buybacks over the next five years, boosting distributions by 20 percent compared with the most recent pace of payouts as the U.S. oil giant ramps up …

March 3, 2020 - 12:30 pm Closing Bell Story‎, Crude Oil News, Energy News
Source: Houston Chronicle

Trump ready to end Chevron’s sanctions waiver in Venezuela

Houston Chronicle


The Trump administration is ready to unleash the full impact of sanctions on Chevron Corp.’s operations in Venezuela as the U.S. seeks to further squeeze the Maduro regime.

While no decision has been made, it’s increasingly unlikely that …

February 28, 2020 - 11:30 am Closing Bell Story‎, Crude Oil News, Energy News, People
Source: Houston Chronicle

Shell plans major drilling in Mexico, but oil may take years

Houston Chronicle


Royal Dutch Shell Plc is pushing ahead on its massive deep-water drilling plan in Mexico, even as it doesn’t foresee production starting under the current government.

The global oil major plans to drill four wells this year, and …

February 26, 2020 - 11:00 am Closing Bell Story‎, Crude Oil News, Energy News, Mexico
Source: Reuters

Argentina’s energy bust spawns ‘ghost town’ in prized Vaca Muerta

Reuters


AÑELO, Argentina  – Just weeks into his young administration, Argentina’s new president convened a meeting with executives from Chevron Corp (CVX.N), Royal Dutch Shell PLC (RDSa.L) and other oil companies in a bid to smooth …

February 19, 2020 - 12:00 pm Closing Bell Story‎, Crude Oil News, Energy News, International
Source: Houston Chronicle

Chevron invests in carbon capture technology company

Houston Chronicle


Through its startup technology arm, Chevron is joining two other firms in investing in Carbon Clean Solutions, which provides portable carbon capture technology for the oil field and other industrial facilities.

Chevron Technology Ventures, Tokyo industrial conglomerate Marubeni …

February 18, 2020 - 11:00 am Closing Bell Story‎, Crude Oil News, Energy News, Sustainability
Source: Reuters

India’s Reliance says purchases of Venezuelan oil have been approved by the U.S.

Reuters


NEW DELHI – India’s refining firm Reliance Industries (RELI.NS) on Thursday said its purchases of Venezuelan crude have been reported and approved by the U.S. government after American officials warned oil firms about their activity in Venezuela …

Source: Houston Chronicle

2 giants with 2 strategies that aren’t working

Houston Chronicle


Everyone from environmentalists to investors is beating up on fossil fuels, and American energy giants Exxon Mobil Corp. and Chevron Corp. are taking increasingly diverging approaches as they try to weather the storm.

The problem is, neither strategy …

Source: Houston Chronicle

Chevron, Petrobras plan to sell deepwater Brazilian field

Houston Chronicle


Chevron and Brazil’s state oil company plan to sell their 100 percent ownership stake of a key deepwater field offshore of South America’s largest country as they both seek to sell assets to cut costs.

The deepwater Papa …

Source: CNBC

Chevron posts $6.6 billion loss in the fourth quarter

CNBC


Chevron on Friday posted a $6.6 billion loss in the fourth quarter due to $10.4 billion worth of write-offs related to shale gas production in Appalachia and deep-water projects in the Gulf of Mexico. In December, the company warned

Source: CNBC

We may not see $100 oil ‘for a long time,’ says Chevron CEO

CNBC


Chevron CEO Michael Wirth told CNBC on Thursday that oil prices may not reach $100 for a “long time” thanks to the boom in U.S. shale production.

“Oil markets have really changed over the last decade or so,” Wirth …

Source: Reuters

U.S. grants Chevron another three months for Venezuela operations

Reuters


CARACAS – The U.S. Treasury Department on Saturday granted permission for Chevron Corp, the last major U.S. oil company operating in Venezuela, to continue working in the country until April 22.

The United States last year imposed sanctions that …

Source: Reuters

Exclusive: PDVSA’s partners act as traders of Venezuelan oil amid sanctions – documents

Reuters


CARACAS/PUNTO FIJO, Venezuela – Venezuela, its oil exports decimated by U.S. sanctions, is testing a new method of getting its crude to market: allocating cargoes to joint-venture partners including Chevron Corp (CVX.N), which in turn market the …

Source: CNBC

Chevron CEO Michael Wirth isn’t anticipating higher oil prices because of Iran-US tensions

CNBC


Chevron Chairman and CEO Michael Wirth does not anticipate significantly higher oil prices from increased Iran-U.S. tensions.

“Fundamentally supply and demand remain where they were before these incidents,” he said Tuesday on CNBC’s “Squawk on the Street” from the …

Source: Houston Chronicle

Chevron pulls employees out of Iraq amid escalation

Houston Chronicle


Chevron said Monday it will pull its employees out of Iraq temporarily amid an escalation in tensions following the United States’ targeted killing of Iran’s top military general.

Chevron said it was evacuating its workers and contractors from …

Source: Reuters

Shell writes down up to $2.3 billion on weaker economic outlook

Reuters


Royal Dutch Shell (RDSa.L) said on Friday it expected to write down up to $2.3 billion in the fourth quarter, the latest major energy company forced to shrink estimates for sector values due to a weaker economic …

Source: Houston Chronicle

Chevron buys Australia’s Puma Energy for nearly $300 million

Houston Chronicle


U.S. energy giant Chevron will buy Australia’s Puma Energy for about $292 million to provide more fuel distribution support in the Asia-Pacific region.

Chevron, which has a large refining presence in Asia and large liquefied natural gas hubs …

Source: Reuters

Exxon, Chevron face new round of shareholder climate resolutions

Reuters


LONDON (Reuters) – An activist group is increasing the pressure on five big U.S. and European oil companies with shareholder resolutions urging them to meet the Paris climate goals and cut carbon emissions.

Dutch group Follow This is targeting …

December 16, 2019 - 2:00 pm Closing Bell Story‎, Energy News, ESG, International
Source: Houston Chronicle

Shale spending to fall 12% in 2020: Report

Houston Chronicle


Exploration and production spending on North American shale is expected to plunge by 12 percent next year because of modest oil prices, weaker cash flows and increased restraint desired by shareholders, according to a new report from the …

Source: Reuters

Chevron charge points to billions more in gas writedowns: analysts

Reuters


Oil and gas producers could wipe billions of dollars more off the value of U.S. natural gas assets in the months ahead, analysts said on Wednesday, after Chevron Corp became the fourth oil major to slash its estimates for …

Source: Houston Chronicle

Big Oil majors looking to sell $27 billion in assets worldwide

Source: Houston Chronicle


The Big Oil majors aim to unload about $27 billion in oil and gas assets worldwide in order to cut costs and focus spending on their core projects.

U.S. giants Exxon Mobil and Chevron for instance are …

Source: Reuters

PDVSA, Chevron to turn Venezuela crude blending plant back into upgrader: sources

Source: Reuters


CARACAS (Reuters) – Venezuelan state oil company PDVSA and Chevron Corp plan to turn their joint venture Petropiar plant back into a crude upgrader, after months operating as a less complex blending facility, three people familiar with the …

Source: Houston Chronicle

Chevron profits fall in third quarter, misses Wall Street expectations

Source: Houston Chronicle


Chevron Corp. reported a net income of $2.58 billion in the third quarter, down from $4.05 billion in the same quarter last year, and missed Wall Street expectations.

The San Ramon, California-based company reported earnings of …

Former Exxon Mobil CEO and former U.S. Secretary of State Rex Tillerson arrives at New York State Supreme Court as an Exxon witness to testify as part of a trial in a lawsuit by New York's attorney general accusing the oil company of misleading investors about the risks of climate change regulations to its business in Manhattan, New York, U.S., October 30, 2019. REUTERS/Mike Segar

Former Exxon chief Rex Tillerson to testify in climate change fraud trial

Reuters


Former Exxon Mobil Corp Chief Executive Rex Tillerson is expected to take the stand on Wednesday in a closely watched civil lawsuit accusing the company of hiding the true cost of climate change from investors.

The case in Manhattan …

Source: Reuters

Chevron seeks to reduce Nigerian presence with oilfield sales

Source: Reuters


LAGOS/LONDON (Reuters) – Chevron is seeking to sell several Nigerian oilfields as part of a global drive to reshape its portfolio as it focuses on growing its U.S. shale output, banking and industry sources said.

Chevron joins rivals …

Trump administration gives energy companies another three months in Venezuela

Trump administration gives energy companies another three months in Venezuela

Source: Houston Chronicle


The Trump administration has given five energy companies with headquarters or major operations in Houston permission to stay in Venezuela another three months despite harsh economic sanctions designed to unseat strongman Nicolas Maduro.

In a Monday afternoon …

Photo: Leslie Mazoch, Associated Press

U.S. mulls extending Chevron’s Venezuela waiver with more limits

Houston Chronicle:


The Trump administration is considering an extension of Chevron Corp.’s waiver to operate in Venezuela, albeit with even greater limitations, according to people familiar with the matter.

The 90-day sanctions reprieve would allow Chevron to continue its …

REUTERS/Arnd Wiegmann

BP, Shell among bidders in $800 million Brazilian oil auction

Source: Reuters


BP Plc, Chevron Corp and Royal Dutch Shell Plc are among the companies that will compete for exploration and production rights off the Brazilian coast on Thursday, in the first of three oil bidding rounds scheduled for coming …

October 10, 2019 - 10:45 am Closing Bell Story‎, Energy News, International