Chevron Archives - Page 9 of 32

Chevron restarts gas production in Israel after brief halt during Iran’s attack

October 2, 2024

(Oil Price) – Chevron has resumed natural gas production and supply from two platforms offshore Israel, where output was briefly suspended as a precaution due to the Iranian missile attack on Israel on Monday. Iran yesterday fired more than 100 ballistic missiles into Israel after the United States warned Israel on Monday morning that an attack was imminent. Oil prices jumped after news

FTC bars Hess CEO from joining Chevron board following $53 billion deal on OPEC collusion accusations

September 30, 2024

(World Oil) – U.S. regulators will allow Chevron to move forward with its $53 billion acquisition of Hess but are barring Chief Executive Officer John Hess from joining the supermajor’s board, saying he improperly communicated with OPEC. The U.S. Federal Trade Commission said in a statement Monday that Hess communicated with members of the group and its allies, encouraging them

BREAKING NEWS: Hess CEO will not join Chevron’s board following $53 billion merger in deal with FTC

September 27, 2024

(World Oil) – Chevron Corp. agreed that Hess Corp. Chief Executive Officer John Hess won’t join the company’s board as part of an agreement with the U.S. Federal Trade Commission, allowing the companies’ merger to proceed, people familiar with the matter said. The condition allows Chevron to move forward with its $53 billion acquisition of Hess, said the

IOC’s across the seas-Size matters

September 26, 2024

(Oil & Gas 360) – A review of recent valuations between international oil companies (IOCs) on both sides of the Atlantic Ocean suggests that size and strategy remain high on the list of investors’ criteria. One traditional indication is the price-to-earnings ratios (“PE”) for ExxonMobil and Chevron on the American side compared to their European counterparts, Shell, BP, and TotalEnergies.

BREAKING NEWS: FTC to greenlight Chevron’s $53 billion Hess acquisition amid ExxonMobil arbitration

September 24, 2024

(World Oil) – The U.S. Federal Trade Commission is expected to greenlight Chevron Corp.’s $53 billion deal to buy Hess Corp., according to Reuters. The FTC could announce the decision as soon as this week, Reuters reported, citing people familiar with the matter. Chevron would still need to win an arbitration case filed by Exxon Mobil Corp. in order to close

Oil firms evacuating US Gulf of Mexico staff as major hurricane looms

September 24, 2024

(BOE Report) – U.S. oil producers were scrambling on Monday to evacuate staff from Gulf of Mexico oil production platforms as the second major hurricane in two weeks was predicted to tear through offshore oil producing fields. The U.S. National Hurricane Center said a potential Tropical Cyclone in the Caribbean was expected to rapidly intensify over the gulf’s warm waters

Chevron not looking to invest in building US LNG plants, official says

September 20, 2024

BOE Report Chevron does not want to invest in the construction of U.S. LNG plants, as it is not the best use of the company’s capital and it can easily sell its U.S. gas, said a top official on Thursday. The head of Chevron’s midstream, Colin Parfitt, also ruled out taking an equity stake in Woodside Energy’s impending purchase of Louisiana-based

Industry appeals Gulf Court ruling, citing risks to U.S. energy security

September 13, 2024

World Oil (WO) — The American Petroleum Institute (API), EnerGeo Alliance, the National Ocean Industries Association (NOIA), and Chevron U.S.A. Inc. have appealed a recent court ruling that invalidated the National Marine Fisheries Service’s (NMFS) Biological Opinion for the Gulf of Mexico. The decision, effective Dec. 20, could halt both new and ongoing oil and gas operations in the region.

Under Pressure- Chevron announces deepwater breakthrough

August 14, 2024

Oil and Gas 360 It has taken five years and $5.7 billion, but Chevron announced a successful operational and technical breakthrough on August 12 that could create a new template for deep sea exploration with equipment improvements that permit operations at pressures of 20,000 psi. Until their announcement, the generally accepted technical limit was 15,000 psi. The company has partnered

New drilling technology to put billions of barrels of oil in reach, analysts say

August 14, 2024

BOE Report An oil production breakthrough that producers say can safely tap ultra-high pressure fields could put up to 5 billion barrels of previously inaccessible crude into production, analysts said. Chevron on Monday disclosed it had pumped first oil from a field at 20,000 pounds per square inch pressures, a third greater than any prior well. Its $5.7 billion Anchor project

US shale companies produce more crude using fewer rigs

August 13, 2024

US shale companies produce more crude using fewer rigs

BREAKING NEWS- Chevron’s $53 billion Hess merger delayed again as ExxonMobil arbitration drags into 2025

August 1, 2024

World Oil (Bloomberg) – Chevron Corp.’s $53 billion proposed takeover of Hess Corp. suffered another setback as an arbitration hearing to settle an ownership dispute with Exxon Mobil Corp. won’t be held until next year. The international arbitration panel handling Exxon’s claim that Chevron’s acquisition does not give it the right to control Hess’ stake in a Guyanese oil project

Premium Content