Chevron looking to cut up to 20% of workforce
US oil major Chevron (NYSE: CVX) has announced that it will cut 15-20% of its workforce as it looks to make $3 billion worth of savings by 2026.
Chevron
Tropical Storm Francine disrupts Gulf Coast oil, gas output
ropical Storm Francine forced some oil drillers to halt production and evacuate crews as it barreled through the Gulf of Mexico, and was expected to strengthen to a Category 2 hurricane as it heads toward the coast of Louisiana.
Kamala Harris seen as tougher oil industry opponent than Biden
As California attorney general, Kamala Harris brought lawsuits against fossil fuel companies, prosecuted a pipeline company over an oil leak and investigated Exxon Mobil Corp. for misleading the public about climate change.
Senate probes possibility of collusion between Big Oil and OPEC
A US Senate committee is investigating whether oil producers are illegally coordinating with OPEC to raise prices, following allegations that the former head of Pioneer Natural Resources Co. colluded with the cartel.
Democrats send Big Oil investigation to US Justice Department
Democrats are asking the US Department of Justice to investigate major oil companies and their trade groups following a congressional probe that concluded the industry spent decades deceiving the public about climate change.
John Hess personally calls investors to support Chevron deal before vote
John Hess, the boss of the oil company that bears his family name, is talking to directly with shareholders in a last-ditch effort to ensure enough support for a $53 billion takeover by Chevron Corp. (NYSE:CVX), according to people familiar with the matter.
‘Too early’ to say how Chevron staff will be affected by UK exit
Following news that US supermajor Chevron has put its UK assets up for sale, the firm has said it is “too early” to comment on how it will affect up to a dozen workers.
Chevron asset sale to end 55-year North Sea presence
Chevron (NYSE: CVX) is set to exit the UK North Sea as it looks to sell its remaining oil and gas assets in the region, Reuters has reported.
Chevron launches $500 million fund to invest in clean tech
Chevron Corp.’s (NYSE:CVX) venture arm launched a fund — its third — with a $500 million commitment to invest in clean energy technologies.
World’s oil and gas firms linked to 40% of CO2 emissions since 2016
A new report has revealed the world's oil and gas firms have contributed to more than 40% of global carbon dioxide (CO2) emissions since the Paris climate agreements.
Exxon, Cnooc merge Guyana arbitration claims against Chevron
Exxon Mobil and Cnooc merged arbitration claims against Chevron’s proposed takeover of Hess that would allow the US oil supermajor to enter Guyana’s Stabroek Block.
Oil giants plan to bury massive amounts of CO2 in Southeast Asia
Just as they first ventured to do over a century ago, the world’s largest oil companies are staking claims far from home — this time to swallow, rather than spew, planet-warming industrial emissions.
Hess flags possible delay for Chevron deal as Exxon steps in
Hess Corp. (NYSE:HES) signaled its $53 billion agreement to be bought by Chevron Corp. may be delayed after Exxon Mobil Corp. filed for arbitration over the deal to preserve its rights to a massive oil discovery off Guyana.
Exxon plays hardball with Chevron to hoard Guyana’s oil riches
It’s rare for disputes between any of the world’s supermajor oil companies to spill out in public. It’s even rarer that one could end up costing $53 billion.
Big Oil pay packets still push execs to boost fossil fuel production – report
A new report suggests Big Oil continues to link executive pay to increased fossil fuel production, even if this conflicts with energy transition targets and climate policies.
Chevron, Hess shares slip as Exxon considers bid to block Guyana deal
Shares of Chevron and Hess slipped after Exxon Mobil said it’s considering a move that could break up the companies’ $53 billion merger and increase its share of Guyana’s giant offshore oil reserves.
Chevron invests in Israeli gas boost
Chevron has taken the final investment decision (FID) on the second phase of the Tamar field, offshore Isreal.
Big Oil’s blockbuster $114 billion investor payout is largest ever
Oil supermajors returned more cash to shareholders than ever before last year as management teams reined in spending on new projects to free up cash for dividends and buybacks. There may be more to come.
Big oil’s optimism faces reality check in tech-obsessed market
Exxon Mobil Corp. (NYSE:XOM) and Chevron Corp. (NYSE:CVX) are generating returns not seen since their heyday over a decade ago, with $58.7 billion handed to shareholders last year and more to come in 2024, even if crude prices drop. And yet, they’re struggling to compete in a stock market beholden to Silicon Valley.
Chevron sees up to $4bn hit from California policies, former Gulf of Mexico assets
Chevron Corp. will write down the value of $3.5 billion to $4 billion in assets due to restrictive government policies in California and environmental liabilities in the Gulf of Mexico.
Chevron CFO orders staff to ‘do better’ after missing 2023 goals
Chevron (NYSE: CVX) chief financial officer Pierre Breber rebuked employees for failing to deliver on several key performance metrics in 2023, a year in which the stock lagged Big Oil peers.
The world’s leader in Carbon Capture shows why it’s a long shot
Nearly 200 countries are in the home stretch of tough negotiations at COP28 over what the world should do to combat climate change.
Aphrodite partners downplay development progress
NewMed Energy, which has a 30% stake in the project, also took a more measured tone. The company said Chevron had asked to postpone the start of front-end engineering and design (FEED) work on Aphrodite.
Indonesia stacks up low-carbon deals in visit to US
The president went on to invite Exxon to invest in renewable energy and infrastructure, including for the new planned capital, Nusantara.
Israel gas flows to Egypt set to return to pre-war level
Israel’s natural gas flows to Egypt are expected to almost double and reach pre-war levels early next week, according to a person familiar with Egyptian imports, after a major offshore field resumed output on easing safety concerns.