Oil Price Chevron (NYSE: CVX) reported on Friday lower earnings for the second quarter of 2023 compared to the same period of 2022, joining the other international supermajors in booking reduced profits on the back of much lower oil and natural gas prices this year. As previewed in profit highlights a few days ago, Chevron said on Friday that its adjusted earnings were $5.8
Nasdaq HOUSTON – Chevron Corp’s CVX.N second-quarter earnings topped Wall Street estimates, the company said on Sunday, and Chief Executive Michael Wirth also signaled the number two U.S. oil company remains open to more acquisitions and to increasing shareholder distributions this year. In a rare preview of its results that coincided with the announced retirement of its finance chief, Chevron disclosed a
BOE Report U.S.-based oil major Chevron will invest more than $500 million to develop the Trapial block in western Neuquen province, home to the massive Vaca Muerta shale basin, Argentina’s economy ministry announced on Friday. The announcement followed a meeting between Economy Minister Sergio Massa and company officials, according to a ministry statement. The new spending plan is scheduled to start before
World Oil (Bloomberg) – Chevron Corp. said natural gas will play a long-term role in curbing emissions, bucking some environmental groups that see the fuel’s role as a temporary bridge to a low-carbon economy. To that end, European buyers are signing more gas-delivery contracts of a decade or more in duration as they seek replacement sources of the heating and
Yahoo Finance (Bloomberg) — Exxon Mobil Corp. and Chevron Corp. shareholders soundly rejected activist demands to take responsibility for curbing emissions by motorists and industries that burn their fuels.Roughly 90% of investors in North America’s two largest oil producers shot down a proposal by environmental group Follow This that urged executives to set targets for reducing so-called Scope 3 emissions.
Oil and Gas 360 Complementary to Chevron’s operations in important U.S. production basins Adds 10% to oil equivalent proved reserves for under $7 per barrel Accretive to earnings per share and return on capital employed (ROCE) Expected to add $1 billion to annual free cash flow SAN RAMON, Calif. and DENVER, Colo.–(BUSINESS WIRE)–May 22, 2023– Chevron Corporation (NYSE: CVX) announced today that it has entered into a definitive agreement with PDC
World Oil (Bloomberg) – Chevron Corp.’s flagship carbon capture and storage project in Australia faces years of work to hit full capacity, underscoring the challenge of a technology seen as necessary to help the world hit climate goals. The Gorgon CCS project, one of the largest of its kind in the world, needs investment to boost performance and will be
Oil Price Chevron’s plans to increase its crude oil exports from Venezuela have hit a snag, with the sanctioned South American country unable to bear the cost of dredging a key oil export inlet. Chevron’s Venezuela hopes include ramping up crude oil exports from the sanctioned country—but in order to do that, Lake Maracaibo needs to be dredged. And
Oil Price A tanker carrying crude oil destined for Chevron has been seized by the Iranian Navy, the United States Navy said on Thursday. The tanker had reportedly been involved in a collision with an Iranian vessel in the Gulf of Oman. Iran’s Navy seized a Marshall Islands-flagged oil tanker, Advantage Sweet, in the Gulf of Oman shortly after the
Oil Price Chevron, the only U.S. company currently allowed to do business in Venezuela, has urged the country’s government to clean up sediment from Lake Maracaibo to make it possible to load more crude oil on tankers without risking running aground. The cleanup, Bloomberg reports, would nearly double the amount of crude the company could export. For now, Chevron has paid
Yahoo Finance HOUSTON – The global natural gas market has been more fundamentally changed for the long term by Russia’s invasion of Ukraine than the oil market, Chief Executive Mike Wirth on Monday said on Monday. The conflict in Ukraine and ensuing Western sanctions upended global oil and gas markets and disrupted supplies from Russia. Europe has turned away from
World Oil (WO) — Bayou Bend CCS LLC, a carbon capture and sequestration project located along the Texas Gulf Coast, is expanding its carbon dioxide storage footprint through the acquisition of nearly 100,000 acres onshore in Chambers and Jefferson Counties, Texas. The increased acreage positions Bayou Bend to be one of the largest carbon storage projects in the United
