Chevron Appalachia VP moves to head up Australian business
Oil major Chevron said the current vice president of the company’s Appalachia business will be moving to become deputy managing director of its Australian unit.
Chevron
Chevron to exit East Kalimantan oil and gas block
Oil major Chevron said it will not extend its contract to operate the East Kalimantan oil and gas block in Indonesia.
Chevron will supply more Gorgon LNG to China
Chevron has signed its second agreement in as many months to sell liquefied natural gas to China.
Republican candidate Ted Cruz sold off all his shares in Chevron, filing shows
Republican Presidential candidate Ted Cruz sold off all of his shares in oil major Chevron at the end of last year, according to transaction filings with the US Senate. According to reports, the politician had done so as he needed the liquidity.
Chevron moves one step closer to Gorgon milestone
Oil major Chevron will soon mark a milestone in its preparations to start exports from its Gorgon LNG project in Australia. The company's $54billion project could soon be marking its first shipment after the company said an LNG cargo had arrived at its plant on Barrow Island.
Neptue lands Chevron diving contract
Diving specialist Neptune been awarded a marine maintenance diving contract by Chevron in Australia for various natural gas assets in Western Australia.
Chevron, Petrochina start production from delayed Luojiazhai field
Oil major Chevron and PetroChina started production from an onshore gas field at the end of 2015 after years of delays. The Luojiazhai field has an annual production capacity of three billion cubic metres of gas.
Chevron tells employees to leave their guns at home
Oil major Chevron has joined a number of businesses to opt out of the Texas open carry law - which means employees will no longer be able to carry firearms inside office buildings. The move was made apparent to employees in an email sent on the final day of last year. The decision covers handguns, rifles or shotguns.
Chevron wins $28million judgement in latest pollution case twist
Chevron made more progress in its table- turning campaign against plaintiffs' lawyers suing the oil company over pollution in Ecuador.
Chevron makes job losses from its Gorgon LNG plant
Chevron has made around 1,000 workers redundant from its Gorgon LNG plant in Australia as it looks to streamline costs.
Total brings Moho project in Congo on stream
Total said the Moho Phase 1b project in the Republic of the Congo has been brought on stream. The company said the site, which is 75 kilometres off the coast of Pointe-Noire, has a production capacity of 40,000 barrels of oil equivalent per day. The project will involve the drilling of 11 new subsea well and the installation of the two most powerful subsea multiphase pumps in the world.
Chevron completes North Sea jobs consultation, confirms job losses
Chevron has completed a jobs consultation process which will see a reduction in headcount by 140 positions from its North Sea operations. Earlier this week the company said it would be reducing its spending in 2016 by around 24%.
BP, Chevron back $2 billion North West Shelf development phase
BP Plc, Chevron Corp. and the other partners in Australia’s largest oil and gas venture approved a $2 billion expansion in the project, the fourth major gas development at the North West Shelf in the past seven years. The Greater Western Flank Phase 2 off the north-west coast will develop 1.6 trillion cubic feet of gas from six fields, the operator of the North West Shelf, Woodside Petroleum Ltd., said Friday in a statement.
Chevron cuts 2016 spending by 24%, plans bulk of costs on international projects
Oil giant Chevron said it will cut its budget by 24% next year as it aims to control spending following the decline in oil price. The company said it would spend $26.6billion in 2016, with the bulk of spending planned on international oil and gas exploration and production projects.
Chevron makes job cuts in Australia
Oil major Chevron is making headcount reduction from its staff in Australia as it looks to streamline costs across the globe. The company previously announced it would be cutting between 6,000 and 7,000 jobs around the world as it looks to combat low oil prices.
Chevron to make redundancies in neutral zone between Kuwait and Saudi Arabia
Oil major Chevron is said to be considering whether to make 1,000 staff members who work in the neutral zone between Saudi Arabia and Kuwait redundant. According to the Wall Street Journal, a dispute between the countries has halted all work on oil fields for several months. The company has already reduced the number of petroleum-development rigs in the neutral zone.
Exclusive: Chevron considers 140 job losses across its North Sea operations
Oil major Chevron is reviewing up to 140 positions across its North Sea operations as it looks to streamline costs.
Chevron reduces 2016 budget, plans to reduce headcount by 10%
Oil major Chevron said it had reduced its 2016 budget by 25% as well as laying off around 10% of its workforce. The company said it plans to spend between $25billion to $28billion next year. It will also reduce its spending in 2017 and 2018, an acknowledgement that oil prices are not expected to rise drastically in the next few years.
Oil producers curb mega-project ambitions to focus on US shale
A stubborn 16-month crude rout with no end in sight is driving the largest US oil producers away from costly, high-risk mega-projects long touted as the industry’s future and toward safer shale operations that generate the cash needed to satisfy anxious investors.
Chevron completes appraisal of “significant” discovery in Gulf of Mexico
Oil major Chevron said it has made a “significant discovery” after the appraisal of the Anchor discovery in the Gulf of Mexico. The original discovery well, which is located 140 miles off the coast of Louisiana, was drilled in late last year to a depth of 33,750feet and encountered 690feet of net oil pay. The appraisal drilling began in June this year and Chevron said complete appraisal of the field will require further delineation wells and technical studies.
Chevron makes changes to its top team
Oil major Chevron has made changes to its senior team with two of its top executives assuming new roles. The company said Michael Wirth will become executive vice president from midstream and development. Wirth is currently executive vice president for downstream and chemicals.
Fred Olsen Energy cancel construction and drilling contract for Chevron North Sea rig
Fred Olsen Energy (FOE) has cancelled a construction contract for a newbuild rig with Hyundai Heavy Industries in South Korea, as well as ending an agreement with Chevron in the UK North Sea. The company’s subsidiary, Bollsta Dolphin, said it had exercised its contractual termination right as a result of the rig’s delay.
BG Group restarts Everest oil production as platform gets new lease of life
BG Group has restarted production from its Everest platform in the central North Sea after completing the first phase of a £300million major upgrade that will extend its life a further 10 years.
Exxon, Chevron outlooks cut to negative by S&P in oil slump
Exxon Mobil Corp. and Chevron Corp. were among several U.S. oil and natural gas producers that had their outlooks or ratings cut by Standard & Poor’s as the industry suffers from weak crude prices, hurting their cash flow and liquidity. S&P cut ratings for Chesapeake Energy Corp., Denbury Resources and Whiting Petroleum Corp., while giving Exxon and Chevron "negative" outlooks, the ratings agency said Friday in a statement. Exxon “has substantially more debt than during the last cyclical commodity price trough in 2009, while upstream production and costs are at similar levels,” S&P analysts Thomas Watters and Carin Dehne-Kiley said. Oil prices have fallen 58 percent from last year’s peak, threatening $1.5 trillion in North America energy investments, according to Wood Mackenzie Ltd. Oil has been stuck near $45 a barrel as U.S. crude stockpiles stay about 100 million barrels above the five-year seasonal average and OPEC pumps at near- record levels.
Chevron responds to criticism over Captain deals
Chevron North Sea (CNS) has defended its record for awarding contracts after being criticised for favouring foreign companies for its biggest projects. US-owned CNS has shortlisted four companies to bid for topsides and jacket engineering, procurement and construction (EPC) work on its Captain Enhanced Oil Recovery (EOR) project. The oil producer has come under fire in north-east England for not including OGN Group, based in Wallsend, Tyne and Wear, where it is feared thousands of workers could be laid off as existing contracts end.