(BOE Report)– Energy markets enter 2026 in a downbeat mood as geopolitical uncertainty clouds the outlook and increasing signs of swelling oil and gas supplies threaten to sink prices. This past year was a wild one for the oil and gas industry, punctuated by the 12-day Israel-Iran war in June, U.S. President Donald Trump’s trade wars, the intensified targeting of
(BOE Report)– Frontera Energy’s Colombian unit has signed a prepayment and commercial agreement worth up to $120 million with a unit of U.S. oil major Chevron to supply crude oil over two years, the Canadian oil producer said on Monday. Under the deal, Frontera will receive an initial $80 million advance and supply a portion of its crude output to Chevron
(World Oil) – Chevron Corp. is in discussions with the Trump administration about remaining in compliance with sanctions in Venezuela, emphasizing the benefits to the U.S. of the company’s continued presence, Chief Executive Officer Mike Wirth said. The CEO said he doesn’t know what President Donald Trump’s intentions are in the south Caribbean, where a US military build-up has prompted speculation
(World Oil) – Chevron Corp. has announced an organic capital expenditure (capex) range of $18–$19 billion for 2026, positioning next year’s budget at the lower end of its long-term guidance as the company emphasizes disciplined spending, efficiency improvements and high-return upstream development. Chairman and CEO Mike Wirth said the program is structured to expand cash flow and earnings while maintaining strategic flexibility.
(Investing)– Syrian President Ahmed al-Sharaa held meetings with delegations from U.S. oil major Chevron and the Syrian Petroleum Company on Tuesday, according to the Syrian state news agency. The discussions focused on potential cooperation in oil and gas exploration along Syrian shores. The Syrian state news agency reported that the talks involved examining possibilities for joint work between the American energy
(World Oil) – TotalEnergies has strengthened its global exploration ties with Chevron following a new farmout agreement covering two offshore licenses in Nigeria’s West Delta basin. The company announced that its Nigerian subsidiary, TotalEnergies EP Nigeria, has agreed to transfer a 40% interest in exploration licenses PPL 2000 and PPL 2001 to Star Deep Water Petroleum Limited, a Chevron company. TotalEnergies will remain operator
(World Oil) – Chevron Corp., the only major U.S. oil company left in Venezuela, wants to remain in the sanctioned country for the long-term and sees a role in rebuilding its economy when the time is right. “The kinds of swings that you see in places like Venezuela are challenging but we play a long game,” Chief Executive Officer Mike Wirth
(Investing) – LONDON -U.S. oil major Chevron is studying options to buy global assets of sanctioned Russian oil firm Lukoil, five sources familiar with the process told Reuters on Monday. The U.S. Treasury gave clearance last week to potential buyers to talk to Lukoil about foreign assets. Chevron would join Carlyle and other firms in the race for the Lukoil portfolio worth at least $20
(Oil Price) – Oil markets have been volatile over the past couple of weeks, driven by a series of geopolitical developments including new U.S. sanctions on Russian energy, coupled with a fragile cease-fire in Gaza. Oil prices remain well below recent highs, with both Brent and WTI crude trading ~$15/bbl below their 52-week peak. Weak oil prices have taken a toll on
(Oil Price) – Chevron plans to grow its free cash flow into the next decade as it focuses on higher profits and returns to shareholders instead of growing oil and production, the U.S. supermajor’s five-year plan to 2030 showed on Wednesday. Chevron will raise output, but its primary focus will be on boosting free cash flow and earnings per share via deeper cost
(BOE Report) – When Chevron executives and top shareholders convene in New York City on Wednesday for the oil producer’s investor day, portfolio managers will be eager to hear CEO Mike Wirth’s plan to finally reap rewards from the Hess acquisition and begin a new phase of growth. The event is lining up to be a victory lap for Wirth after the
(World Oil)– Chevron Corporation reported record oil and gas production in the third quarter of 2025, driven by the integration of Hess Corporation assets and strong performance from core upstream regions including the Permian basin, Gulf of America, Kazakhstan, and Guyana. The company’s global production rose 21% year-over-year to 4.1 million boe per day, its highest on record. The acquisition
