Post Tagged with: "chevron"

Source: Reuters

Chevron can lift Israel’s Leviathan gas field on to global stage, partner says

Reuters


JERUSALEM – Chevron’s entry into Israel’s Leviathan natural gas field will help deliver the technical and marketing nous to turn the project into a global supplier, said the CEO of Delek Drilling, the energy giant’s new regional partner.

Chevron …

Source: Forbes

The last oil drilling rig leaves Venezuela

Forbes


Publisher’s Note: Bernadette Johnson from Enverus will be presenting at The Oil & Gas Conference this coming August 17-19, 2020. Register to attend.

The last oil rig has officially left the premises. In Venezuela, that is. There, Nabors said …

Source: Reuters

Chevron posts $8.3 billion second-quarter loss on write downs, job cuts

Reuters


HOUSTON  – Chevron Corp (CVX.N) on Friday reported an $8.3 billion loss in the second quarter on asset writedowns from plummeting fuel prices, a forced exit from Venezuela and expenses tied to thousands of jobs cuts.

Multibillion-dollar …

Source: Reuters

Chevron says expects to restart Train 2 of Gorgon LNG plant in early September

Reuters


SINGAPORE – Chevron Corp expects to restart Train 2 of its Gorgon liquefied natural gas (LNG) plant in Australia in early September after completing repairs, a company spokesman said on Tuesday.

Gorgon is carrying out the repair work after …

Source: Reuters

Chevron diversity ratio to improve as layoffs progress

Reuters


Oil major Chevron Corp (CVX.N) expects to reduce the dominance of white males in company management during cost-cutting this year, upping the share of senior level jobs held by women and ethnic minorities to 44% from 38% …

Source: Reuters

Chevron’s $5 billion deal for Noble ends deal drought, sets price benchmark

Reuters


Chevron Corp’s surprise $5 billion all-stock deal for oil producer Noble Energy should spell the end of this year’s deal drought, setting a price benchmark that will trigger more buys, according to mergers and acquisition bankers, lawyers and analysts.…

Source: Reuters

Sasol to sell Escravos gas-to-liquids plant to Chevron

Reuters


South African petrochemicals giant Sasol said on Wednesday it would sell its indirect interest in the Escravos gas-to-liquids (EGTL) plant in Nigeria to Chevron for an undisclosed sum.

The world’s top manufacturer of motor fuel from coal said it …

Source: CNBC

Oil and gas production ETF paces for best quarter on record, but traders say it’s still a ‘show-me story’

CNBC


Oil and gas stocks are defying the odds.

The SPDR S&P Oil and Gas Exploration and Production ETF (XOP) is having its best quarter on record, up over 102% since April 1 despite concerns about oversupply. That’s more

Chevron oil cargo tangled in U.S. sanctions on Venezuela

Chevron oil cargo tangled in U.S. sanctions on Venezuela

Reuters


HOUSTON – A Chevron Corp crude oil cargo has become embroiled in U.S. sanctions on shipping companies for violating restrictions on doing business with Venezuela, the company confirmed on Friday.

Adamant Maritime Ltd, the owner of very large crude-oil …

Source: Reuters

Coronavirus widens climate rift between European and U.S. oil majors

Reuters


LONDON – Europe’s top oil and gas companies have diverted a larger share of their cash to green energy projects since the coronavirus outbreak in a bet the global health crisis will leave a long-term dent in fossil fuel …

Source: CNBC

Oil drops 2%, snapping five-day winning streak in volatile trading session

CNBC


Oil prices dropped on Wednesday, snapping a five-session winning streak, as oversupply concerns outweighed optimism over economies reopening.

West Texas Intermediate, the U.S. benchmark, shed 2.3%, or 57 cents, to settle at $23.99 per barrel. In a volatile …

Exxon reports a historic loss while Chevron deepens capex cuts

Exxon reports a historic loss while Chevron deepens capex cuts

World Oil


HOUSTON (Bloomberg) –Exxon Mobil posted its first loss in at least 32 years while Chevron Corp. deepened spending cuts amid the economic and industrial devastation wrought by the Covid-19 contagion. The worst may be yet to come.

Exxon …

Chevron says results will be ‘depressed’ as long as oil stays low, takes steps to protect dividend

Chevron says results will be ‘depressed’ as long as oil stays low, takes steps to protect dividend

CNBC


Chevron shares dropped on Friday after the company warned that results will remain depressed as long as oil prices stay low, and said it was further cutting its 2020 capital spending plan.

For the first quarter, Chevron reported earnings …

Source: Reuters

Half of announced North American oil cuts come from just three companies

Reuters


Numerous U.S. and Canadian oil companies have said they are reducing output in 2020, but a Reuters analysis of the announcements so far show that just three companies – Chevron, ConocoPhillips and Occidental Petroleum – account for more than …

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
Trump ready to end Chevron’s sanctions waiver in Venezuela

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 …