Chevron – Page 7 – Oil & Gas 360

Chevron exceeds Q2 expectations on strong oil production amidst ExxonMobil, Hess arbitration over Guyana

April 26, 2024

World Oil Publisher’s Note: Chevron Corp will present at EnerCom Denver- The Energy Investment Conference on August 18-21, 2024. Register to attend. (Bloomberg) – Chevron Corp. surpassed expectations for a second straight quarter as strong oil-production growth from recent acquisitions helped the company take advantage of crude prices above $80 a bbl. Adjusted first-quarter profit of $2.93 a share was

Chevron launches $500 million fund to invest in renewable energy technologies

April 16, 2024

World Oil Publisher’s Note: Chevron Corp, (NYSE: CVX) is confirmed for EnerCom Denver – The Energy Investment Conference on August 18-21, 2024. Register to attend. (Bloomberg) – Chevron Corp.’s venture arm launched a fund — its third — with a $500 million commitment to invest in renewable energy technologies. The Future Energy Fund III “enables Chevron to see around corners,

U.S.-style oil megadeals “possible” in Canada following historic ExxonMobil, Chevron takeovers

April 9, 2024

World Oil (Bloomberg) – A U.S.-style megadeal is possible in Canada’s oil patch, though the pressures that pushed Exxon Mobil Corp. and Chevron Corp. to pursue large takeovers aren’t as strong north of the border, says Bank of Montreal’s top energy banker. Investors would likely support mergers between major Canadian energy producers that increased scale and improved cost efficiencies —

Chevron leaves Myanmar

April 9, 2024

Oil Price U.S. supermajor Chevron has quit operations in Myanmar by transferring its stake in a natural gas field and an associated pipeline to its former partners in the ventures, after pledging to leave the Southeast Asian country following a military coup in 2021. “The withdrawal gives effect to our intention to exit Myanmar in a controlled and orderly manner,

Netherlands’ $900 billion pension funds ready to invest big in renewables

March 27, 2024

Oil Price The Netherlands’ five largest pension funds have said they are willing to invest billions in the country’s renewable energy sector and the electricity grid. The funds, with a combined 900 billion euros ($975 billion) in assets, have offered to help with finances and expertise in the nation’s electric grid expansion and sustainable heating projects. “We want to make a bigger

Chevron CEO says ExxonMobil discussions over prolific oil field offshore Guyana “ended abruptly”

March 19, 2024

World Oil (Bloomberg) – Chevron Corp.’s discussions with Exxon Mobil Corp. and China’s Cnooc Ltd. over a prolific oil field off the shores of Guyana ended “abruptly” a few weeks ago, Chief Executive Officer Mike Wirth said. Chevron held constructive talks with Exxon and Cnooc over the Stabroek block off Guyana several months ago as part its proposed $53 billion

ExxonMobil “open” to talking with Chevron over oil offshore Guyana amidst Hess acquisition

March 19, 2024

World Oil (Bloomberg) – Exxon Mobil Corp. is open to talking to Chevron Corp. about its proposed takeover of Hess Corp. as the oil giants spar over the deal’s implications for a massive offshore oil project in Guyana, Chief Executive Officer Darren Woods said in an interview. His comments mark that first time Exxon has publicly made clear it’s willing

Chevron, Challenger Energy partner to develop “promising” exploration region offshore Uruguay

March 6, 2024

World Oil (WO) – Challenger Energy and its wholly-owned Uruguayan subsidiary, CEG Uruguay SA, have entered into a farm-out agreement with Chevron Uruguay Exploration Limited (“Chevron”), a wholly-owned subsidiary of Chevron Corporation, related to a 60% interest in the AREA OFF-1 block, offshore Uruguay. Chevron will acquire a 60% participating interest in the AREA OFF-1 block and will assume operatorship

VAALCO Energy joins ExxonMobil, Chevron offshore West Africa with $66.5 million Svenska Petroleum Exploration acquisition

March 1, 2024

World Oil (WO) – VAALCO Energy, Inc. has entered into a sales and purchase agreement (“SPA”) to acquire Svenska Petroleum Exploration AB (“Svenska”), a privately-held exploration and production (“E&P”) company based in Stockholm, Sweden. Svenska’s primary asset is a 27.39% non-operated working interest in the deepwater producing Baobab field in Block CI-40, offshore Cote d’Ivoire in West Africa. The gross

Big oil asks U.S. Supreme Court to throw out Honolulu climate lawsuit

February 29, 2024

Oil Price Oil and gas supermajors, including Exxon and Chevron, petitioned on Wednesday the U.S. Supreme Court to toss a Hawaii Supreme Court decision allowing a climate lawsuit of Honolulu to proceed to trial. Honolulu sued several major fossil fuel companies in 2020 in the lawsuit ‘City & County of Honolulu v. Sunoco LP’, seeking damages and other relief from fossil fuel

ANALYSIS-Exxon’s curveball move in Guyana alters Chevron-Hess deal prospects

February 28, 2024

Nasdaq HOUSTON – Exxon Mobil’s surprise challenge to Chevron’s acquisition of Hess through a dispute over a stake in a major Guyana oil field could prove fruitful for the U.S. oil giant, even if it does not end up enlarging its holdings in the South American country. Exxon XOM.N said on Monday it may exercise pre-emptive rights that could block Chevron CVX.N from acquiring

Booming shale production lifts Exxon, Chevron forecasts as oil and gas earning season kicks off

February 5, 2024

World Oil (Bloomberg) – Exxon Mobil Corp. and Chevron Corp. surpassed earnings forecasts as bigger-than-expected oil output from shale fields helped cushion the blow from weakening crude prices. Exxon rose as much as 1.6% in New York and Chevron climbed 2.8%. Exxon’s outsized result also was aided by a $1.14 billion boost from unsettled derivatives and record fuel production at

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