Chevron exceeds expectations for quarterly profits on the back of higher oil production
Chevron Corp. beat Wall Street expectations for the third quarter profit on Friday. However, its earnings dropped from a previous year. Chevron Corp, which has had its proposed $53 billion takeover of Hess delayed by Exxon Mobil Ltd and CNOOC Ltd due to their challenge, reported a profit adjusted of $4.53 billion. This compares to $5.72 million a year earlier.
Chevron CEO criticizes Biden's natural-gas policies and says fuel is essential for AI
Michael Wirth, CEO of Chevron, criticized U.S. president Joe Biden on Tuesday for "attacks" on the natural-gas industry. He also emphasized the critical role that Permian gas plays in accelerating the growth of artificial intelligence. The CEO's comments followed new plans by the government to ensure that power-hungry AI centers do not undermine U.S. Climate Goals.
Investors on Board as U.S. Oil Majors Dismiss Wind and Solar Projects
Top U.S. oil firms are doubling down on drilling, deepening a divide with European rivals on the outlook for renewables, and winning support from big investors who do not expect the stateside companies to invest in wind and solar. Among a dozen U.S. fund managers contacted by Reuters from companies overseeing about $7 trillion in assets…
Chevron Shareholders to Vote on Climate Change Proposals, Emissions Targets
Chevron Corp shareholders will vote on proposals aiming to require the No. 2 U.S.
Saudi Aramco, Chevron Chiefs See Global Oil Demand Recovery
Global oil demand is recovering and could return to around pre-pandemic levels next year, the chief executive of Saudi Aramco told an oil and gas conference on Tuesday.Global demand for oil is likely to recover from the second half of the year and could reach 99 million barrels per day (bpd) in 2022, Amin Nasser said at IHS Markit's online CERAWeek conference.Diesel demand has
Chevron Plans Assets Sale
U.S. oil major Chevron Corp said on Tuesday it is evaluating strategic alternatives, including divestment of gas-related assets in Appalachia shale, Kitimat LNG, and other international projects.Chevron, which set a 2020 spending program of $20 billion, said these actions are estimated to result in non-cash…
Chevron Profit Falls 27%
Chevron Corp's first-quarter profit fell 27 percent from a year earlier due to lower crude oil prices and weaker margins in its refining and chemicals businesses, but topped forecasts and signaled it is committed to buying smaller rival Anadarko Petroleum Corp.The No. 2 U.S. oil and natural gas producer this week found itself in a takeover duel for Anadarko…
Chevron Buys Anadarko for $50Bln
Chevron, the second-largest US oil and gas company, has agreed a $50bn deal to buy Anadarko Petroleum (APC) in a massive deal that will bolster its natural gas and shale operations.The cash and stock deal announced Friday values Anadarko at $65 per share, 39% higher than the oil company's closing stock price on Thursday.
US Shale Lifts Exxon, Chevron Profits
Exxon Mobil Corp and Chevron Corp, two of the world's largest oil producers, on Friday posted improved quarterly earnings that benefited from double-digit percentage increases in production from the top U.S. shale field.Shares of both companies rose about 3 percent.The two U.S. oil majors missed the first…
DAVOS: Oil Majors Huddle in DAVOS to Mull Future
When the global oil industry held its biggest annual gathering this week in the Swiss town of Davos, it invited banking bosses and fund managers to discuss two key topics - climate change and pressure from investors.The conclusion of the discussions was worrying for those present - pressure is rising and…
Chevron Will Boost Capital Spending in 2019
Chevron Corp plans to spend $20 billion next year on oil and natural gas projects, the second-largest U.S.
Chevron Quarterly Profit Doubles
U.S. oil and natural gas producer Chevron Corp said on Friday its quarterly profit doubled as record oil and gas production helped overcome a series of one-time items.With the price of crude in the third quarter up 44 percent from the same period a year ago, major oil companies' earnings have returned to…
In U-turn, Exxon, Chevron to Join Rivals in Climate Initiative
Exxon Mobil, Chevron and Occidental Petroleum are joining a group of international oil and gas giants in an initiative aimed at curbing carbon emissions in the sector, they said in a statement on Thursday.The move marks a U-turn for Exxon Mobil and Chevron, the top two U.S. oil and gas producers which had…
Chevron Sees 2018 Production Up
Oil major Chevron Corp said on Tuesday it should be able to raise production by between 4 percent and 7 percent in 2018 and buy back shares for the first time in three years even without a substantial rise in oil prices. Chevron said it expects to sell off assets, produce more oil at higher margins and lower overall expenses, as industry-wide output climbs and prices stabilize.
Chevron Sells Caltex Australia Stake
Chevron Corporation’s wholly owned subsidiary Chevron Global Energy Inc. today announced that it has entered into an underwriting agreement for the sale of its 50 percent shareholding in Caltex Australia Limited (CAL). It is expected that these shares will be sold to a broad range of Australian and global equity market institutional investors.
Senior Management Shuffle at Chevron
Chevron Corporation announced today that two of its top executives, Michael Wirth and Pierre Breber, will assume new leadership roles effective January 1, 2016. Wirth, who currently serves as executive vice president for downstream and chemicals, will become executive vice president for midstream and development…
