(World Oil) – Chevron Corp. is finalizing a deal that will significantly expand its operations in Venezuela by adding two giant oil fields in the Orinoco Belt, part of a push by U.S. President Donald Trump to ramp up production in the South American country. The Texas oil company has negotiated operating rights to the fields in the Carabobo region that
(Oil Price) – U.S. oil companies dominating the shale patch are planning to trim their spending plans and instead take advantage of higher international oil prices to reduce debt and boost shareholder returns. This is bad news for production growth. Bloomberg reported earlier this month that all the big names in shale had reduced their spending over the first six months of
(World Oil) — Chevron has made an oil and gas condensate discovery in Block 0 offshore Angola, encountering more than 300 ft of net pay as the company continues to expand its exploration program across Sub-Saharan Africa. The 105-4X exploration well, drilled in the Lower Congo basin, encountered an oil and gas condensate column exceeding 2,000 ft in the primary Pinda reservoir, including more than 300
(Oil Price) – Oil prices have soared in recent months as a result of the almost complete closure of the Strait of Hormuz, a key trade corridor connecting Asia and Europe. High fossil fuel prices have helped to drive up the profits of oil and gas companies around the globe, particularly in the United States and Europe. As a few
(BOE Report) – • Navin Mahajan to retire after nearly 30 years with the company • Uriel “Ose” Oseguera named Treasurer of Chevron HOUSTON–(BUSINESS WIRE)–Chevron Corporation (NYSE: CVX) today announced the election of Uriel “Ose” Oseguera as Treasurer, effective November 1, 2026. Oseguera succeeds Navin Mahajan, who will retire from Chevron after nearly 30 years of service. As Treasurer, Oseguera will
(World Oil) — ExxonMobil and Chevron used record second-quarter earnings to strengthen their balance sheets, directing billions of dollars toward debt reduction rather than significantly increasing share buybacks as geopolitical tensions continue to cloud the oil market outlook. The two U.S. supermajors more than doubled net income during the quarter, benefiting from higher crude prices and exceptionally strong refining margins following prolonged disruptions
(Oil Price) – Companies are gearing up for exploration drilling in deepwater blocks offshore Uruguay in the hope that the South Atlantic margin offshore South America could hold a lot of oil, similar to the recent discoveries offshore Namibia in Africa. Uruguay, with a limited exploration drilling history of three wells spudded, all dry, has attracted the interest of many international
(World Oil) – Chevron Technical Center has signed a technology licensing agreement with ZL Chemicals Ltd. to commercialize Chevron-developed surfactant technology designed to improve resource recovery in shale and tight oil reservoirs. Under the agreement, ZL Chemicals will market products and services utilizing the technology under the Vantis™ brand, expanding commercial access to a chemical enhanced oil recovery (EOR) solution that Chevron has developed and deployed
(World Oil) – Several vessels transiting through the Strait of Hormuz have been attacked in recent days, underscoring the “very real” risks that remain for shipowners in the Persian Gulf whether or not a peace accord is signed, Chevron Corp. Chief Executive Officer Mike Wirth said. “There still has been kinetic activity this week, some of which has been reported in the
(By Oil & Gas 360) – For years, Vaca Muerta was viewed as one of the world’s great untapped shale opportunities, massive resources, strong geology, and comparisons to the Permian Basin, but limited by political instability, capital controls, and inconsistent energy policy. Now, the basin is entering a different phase. Located in Argentina’s Neuquén Basin, Vaca Muerta holds the world’s
(By Oil & Gas 360) – A decade ago, Guyana wasn’t part of the global oil conversation. Today, it’s one of the most important new sources of supply in the world. Few countries have moved from discovery to production as quickly or as successfully. What started as a high-risk exploration play has become a case study in how modern oil development can
(By Oil & Gas 360) – Two countries. Two frontier basins. Two very different stages of the same story. Guyana and Namibia are now central to the next wave of global oil supply. Both have delivered major discoveries, attracted the world’s largest oil companies, and reshaped the flow of capital into frontier exploration. But beyond the surface similarities, they represent very
