Chevron Archives - Page 6 of 32

Venezuela’s oil exports stable as buyers in China receive more

June 3, 2025

(BOE Report) – Venezuela’s oil exports remained almost unchanged last month as increased shipments to customers in China offset a decline in U.S.-authorized sales, according to vessel-tracking data and internal documents from state company PDVSA. The U.S. Treasury and State departments in March revoked the authorizations they had granted in recent years for PDVSA’s customers and partners to export oil

Chevron to cut nearly 800 jobs in Texas Permian basin

May 30, 2025

(World Oil) – Chevron Corp. plans to lay off nearly 800 employees in the Permian basin, its biggest oil-production operation globally. The bulk of the reductions will come from Chevron’s Midcontinent campus on the outskirts of Midland, Texas, the company said in a filing with the Texas Workforce Commission. The filing listed the layoff date as July 15, 2025. “Chevron is

U.S. oil giants fight over Guyana’s 11-billion barrel treasure trove

May 28, 2025

(Oil Price) – This week, a private arbitration panel in London began hearing the arguments of U.S. supermajors ExxonMobil and Chevron regarding their rights to one of the world’s most lucrative oil projects. Guyana’s Stabroek block has an estimated 11 billion barrels of oil in place discovered so far by the consortium of ExxonMobil, U.S. Hess Corp, and CNOOC of China.

Chevron’s Venezuela oil license set to expire next week, says U.S. Secretary Rubio

May 23, 2025

(World Oil) – U.S. Secretary of State Marco Rubio said in a post on X that a Venezuela oil-export license will expire next Tuesday, defying earlier expectations that it would be extended. The tighter time frame would put pressure on Chevron Corp.’s operations in the sanctioned nation. The U.S. oil giant has been a major contributor to Venezuela’s economy in

Big oil shrugs at $60 crude—for now

May 21, 2025

(Oil Price) – The biggest international oil firms used the first-quarter earnings calls to reassure investors that Big Oil is in a ‘business as usual’ mode at oil prices at $60 per barrel. As ExxonMobil, Chevron, Shell, BP, and TotalEnergies reported their Q1 earnings and provided guidance for the second quarter and the rest of the year, oil prices were ending one of

Chevron, European firms lobby to keep stakes in Venezuela oil joint ventures

May 16, 2025

(Investing) – U.S. oil producer Chevron Corp (NYSE:CVX) and several European companies are in talks with the Trump administration to obtain authorizations to keep their stakes in joint ventures with Venezuela’s state-run PDVSA, three sources close to the matter said. Washington in March revoked licenses and authorizations it had granted in recent years that allowed PDVSA’s foreign partners and customers to do business

Kazakhstan considers options to meet OPEC+ production cut obligations

May 7, 2025

(World Oil) – Kazakhstan is considering its options for complying with the country’s OPEC+ obligations to cut production, after Saudi Arabia doubled down on its efforts to bring quota-cheats in line over the weekend. “Kazakhstan always was and is committed to OPEC+ agreement,” the Astana-based ministry said on Tuesday in emailed reply to questions. Central Asia’s largest oil producer “is

Chevron meets Wall Street profit estimates but cuts buybacks in Q2

May 2, 2025

(BOE Report) – Chevron on Friday reported first-quarter earnings that met Wall Street estimates, but said it would spend less on share repurchases in the current quarter, reflecting the shaky economic outlook faced by Big Oil. The company’s share repurchases this year could be between $11.5 billion and $13 billion, said Chevron Chief Financial Officer Eimear Bonner, which would be in

Chevron starts oil production from Ballymore Project in Gulf of America

April 21, 2025

(Oil & Gas 360) – HOUSTON–(BUSINESS WIRE)–Chevron Corporation (NYSE: CVX) announced today that it started oil and natural gas production from the Ballymore subsea tieback in the deepwater Gulf of America. Ballymore, the latest in a series of Chevron projects to start up in the past year, represents another step towards the company’s goal to produce 300,000 net barrels per day of

Chevron’s Venezuelan oil cargoes stalled at sea after export cancellations

April 11, 2025

(Investing) – HOUSTON- At least two vessels carrying Venezuelan crude chartered by Chevron (NYSE:CVX) are now stalled in Venezuelan waters due to state oil company PDVSA canceling their export authorizations after the U.S. imposed secondary tariffs on the OPEC member’s buyers, two sources with knowledge of the matter said on Friday. The U.S. oil producer awaits customs paperwork to return the

$Chevron expands triple-frac to half of its Permian wells- oil and gas 360$

Chevron expands triple-frac to half of its Permian wells

April 9, 2025

(Oil Price) – Chevron will boost the so-called triple fracs — fracturing three wells with one frac spread at one time — to more than half of its wells in the Permian basin, a Chevron executive told Reuters, amid efforts to reduce the costs and times of fracking at the world’s top shale basin. Chevron plans to use triple-frac on

Chevron, YPF among oil drillers backing Vaca Muerta pipeline

April 3, 2025

(World Oil) – (Bloomberg) – Chevron Corp., YPF SA and other oil drillers are planning a major Argentine pipeline to handle rising output from the Vaca Muerta shale region. The companies, through the Oldelval SA joint venture, are in talks to increase oil-shipping capacity from Puesto Hernandez, a promising drilling zone more than 100 kilometers (62 miles) distance from the

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