Chevron Corporation (CVX) - NYSE
  • Oct. 8, 2013, 2:08 PM
    • Chevron (CVX -0.7%) says it is pulling out after winning a tender to explore for shale gas in Lithuania, blaming changes to laws which have made it less attractive since it submitted its bid in January to explore at the Silute-Taurage prospect.
    • CVX says it will stay in Lithuania, focusing on exploration of conventional hydrocarbons at its existing Rietavas block.
    | Oct. 8, 2013, 2:08 PM
  • Oct. 7, 2013, 2:24 PM
    • Ecuadorean villagers and the U.S. lawyer who represents them are not entitled to a jury in an upcoming trial over whether they used fraud to win an $19B pollution award against Chevron (CVX), a U.S. judge rules.
    • CVX says the villagers and lawyer Steve Donziger used fraud and bribery to obtain the award in an Ecuadorean court in 2011; at the trial in federal court that begins Oct. 15, CVX is seeking to prevent them from profiting from the award (I, II).
    • Separately, CVX announces a shuffle at its top management: Jay Johnson, head of the Europe, Eurasia and Middle East exploration unit, will become a senior VP of E&P, while gas and midstream president Joe Geagea becomes senior VP of technology and services.
    | Oct. 7, 2013, 2:24 PM | 1 Comment
  • Oct. 7, 2013, 11:39 AM
    • Somalia's government says it is in talks with some of the world's biggest energy companies in an attempt to restart oil exploration in the war-torn east African country.
    • Somali officials have discussed having BP, Exxon Mobil (XOM), Royal Dutch Shell (RDS.A, [RDS.B]]), Chevron (CVX), ConocoPhillips (COP) and Eni (E) return after more than two decades of violence drove away major oil producers.
    • Shell says talks with the government "are of a preliminary and exploratory nature"; BP and Eni confirm having some discussions.
    • Somalia last year transitioned to its first permanent government in years and is trying to rebuild the economy with oil as a cornerstone.
    | Oct. 7, 2013, 11:39 AM | 1 Comment
  • Oct. 6, 2013, 3:50 AM
    • Chevron (CVX) was yesterday starting to restore operations to normal at platforms in the northern Gulf of Mexico and returning non-essential workers following the passing of Tropical Storm Karen, which has anyway been weakening.
    • Anadarko Petroleum (APC) said it expected to follow suit.
    • Along with other oil companies, Chevron and Anadarko removed the workers from platforms that lay in the storm's path.
    | Oct. 6, 2013, 3:50 AM | 2 Comments
  • Oct. 4, 2013, 2:12 PM
    • As Gulf coast states prepare for the advance of tropical storm Karen, BP says it is shutting in all of its oil and natural gas production in the deepwater Gulf of Mexico, and Anadarko (APC) says it has removed all workers and shut in all production at its eastern Gulf facilities.
    • Last year, BP produced 214K bbl/day from the Gulf, making it the largest producer in the region.
    • Shell (RDS.A, RDS.B), Exxon (XOM), Chevron (CVX), Marathon Oil (MRO) and Murphy Oil (MUR) are all removing non-essential workers from their offshore facilities.
    • Seven major refineries with a combined capacity of 1.8M bbl/day - ~10% of the U.S. total - are in Karen's path; Phillips 66 (PSX) and Valero (VLO) say they're continuing to monitor the storm's progress.
    • Crude oil price gains remain subdued, as WTI +0.2% to $103.50/bbl and Brent +0.1% to $109.07.
    • ETFs: OIL, USO, DBO, OLO, USL, CRUD, UCO, DTO, SCO, SZO, DNO, UWTI, DWTI, BNO, UOIL, DOIL.
    | Oct. 4, 2013, 2:12 PM | 4 Comments
  • Oct. 4, 2013, 9:06 AM
    • Oil firms are evacuating Gulf of Mexico rigs as tropical storm Karen looks set to become a hurricane; Anadarko (APC) and Exxon Mobil (XOM) were curbing Gulf production yesterday, and companies including BP, Chevron (CVX) and Shell (RDS.A, RDS.B) began evacuating workers from operations in the storm’s path.
    • Oil prices are up only modestly, as WTI +0.7% to $104.01/bbl and Brent +0.6% to $109.63; prices have been pulled down by the U.S. government shutdown, declining geopolitical risks and positive inventory data released earlier this week, but the storm is helping oil prices find support.
    • ETFs: OIL, USO, DBO, OLO, USL, CRUD, UCO, DTO, SCO, SZO, DNO, UWTI, DWTI, BNO, UOIL, DOIL.
    | Oct. 4, 2013, 9:06 AM | 3 Comments
  • Oct. 4, 2013, 8:27 AM
    • A second regional council in Ukraine on Thursday approved a government draft for a $10B shale gas production-sharing agreement with Chevron (CVX), clearing the way for it to be signed.
    • Deputies in Lviv region voted in favor of the draft, which calls for shale exploration in the Olesska field in the west of the country; a council in the neighboring Ivano-Frankivsk region, whose approval also was necessary, approved the deal last month.
    • CVX would spend several years and $350M to assess reserves at Olesska, and spending ultimately could reach $10B, according to Ukraine's energy minister.
    | Oct. 4, 2013, 8:27 AM
  • Oct. 4, 2013, 7:59 AM
    • Chevron Phillips Chemical (CVX, PSX) said Thursday its board signed off on $6B worth of Gulf Coast petrochemicals projects that were proposed in 2011.
    • An ethane cracker will be built at Chevron Phillips Chemical’s Cedar Bayou plant in Baytown, Tex., and two polyethylene units will be built at a site in Old Ocean near the Sweeny plant.
    • The partnership also was awarded an engineering, procurement and construction contract to a joint venture between JGC and Fluor (FLR) for the ethane cracker part of the project.
    | Oct. 4, 2013, 7:59 AM | 3 Comments
  • Oct. 2, 2013, 11:27 AM
    • Oil exploration and production analysts at Wunderlich make it clear they like the Permian Basin in west Texas for the variety of stacked pays offered, and they think producers are just beginning to understand the full potential of the resource plays in the region.
    • The firm estimates potential for more than 100 years of production, and that the region could have well over 1B barrels of oil.
    • The big E&P companies, with the financial power to cover the costs, have a decided edge in the Permian Basin, the firm says: APC, APA, CVX, COP, XOM, EOG, OXY.
    | Oct. 2, 2013, 11:27 AM | 5 Comments
  • Oct. 1, 2013, 10:44 AM
    • A Brazilian federal judge dismisses a lawsuit against Chevron (CVX -0.2%) after approving a negotiated settlement, a decision that closes a nearly two-year legal battle over the 2011 oil spill at the Frade offshore oil field.
    • The dismissal came after the judge accepted an "adjustment of conduct" deal with CVX that commits the company to spending ~300M reais in compensatory activities.
    • Brazilian prosecutors originally sought 40B reais ($18B) in damages from CVX and offshore drilling contractor Transocean (RIG +0.7%) for a leak at the CVX-operated field; CVX and the government agencies signing the accord said RIG had no responsibility for the spill.
    | Oct. 1, 2013, 10:44 AM | 5 Comments
  • Oct. 1, 2013, 8:00 AM
    • Chevron (CVX) signs a 20-year liquefied natural gas supply deal with Japan's Tohoku Electric Power (TEPCF.PK) for supplies from its $29B Australian Wheatstone LNG project.
    • Confirmation of the deal comes as CVX faces intense cost pressures in Australia and potential competition in the Asian market from LNG projects in North America and East Africa.
    • With this deal, CVX has now sold off 85% of the gas from its Wheatstone project to Asian customers through long-term contracts.
    • Apache (APA) is a 13% owner in the CVX-operated project.
    | Oct. 1, 2013, 8:00 AM
  • Sep. 30, 2013, 3:59 PM
    • Chevron (CVX) and Range Resources (RRC) stand out among energy plays Credit Suisse thinks will thrive amid fast-rising U.S. production and declining demand.
    • The firm favors upstream companies with repeatable drilling inventory at the low end of the cost curve (e.g. Wattenberg, Eagle Ford, Northern Midland, Utica, super-rich Marcellus, core Bakken): Taking value into account, it likes Pioneer Natural Resources (PXD), Noble Energy (NBL), Anadarko Petroleum (APC), Marathon Oil (MRO), Gulfport Energy (GPOR), Diamondback Energy (FANG) and PDC Energy (PDCE).
    | Sep. 30, 2013, 3:59 PM | 7 Comments
  • Sep. 26, 2013, 6:55 PM
    • You know a major corporation really cares about an appellate court argument when they bring out one of the bar’s big guns, and no gun is bigger than Ted Olson, the former U.S. solicitor general and noted Supreme Court advocate.
    • Chevron (CVX) today rolled out Olson to convince a three-judge panel to clear the way for a civil racketeering suit it wants to start next month against plaintiffs’ attorney and environmental activist Steve Donziger.
    • The real question was the future of the $19B oil pollution verdict imposed on CVX by an Ecuadorian court in 2011, engineered by Donziger, who wants to get the U.S. district judge overseeing the racketeering suit, Lewis Kaplan, removed from the case.
    • Late this afternoon, the court issued an order refusing to remove Kaplan; Chevron prevailed and Olson earned his fee.
    | Sep. 26, 2013, 6:55 PM | 5 Comments
  • Sep. 25, 2013, 9:06 AM
    • Linc Energy (LNCGY.PK, LNCYF.PK), seeking a shale exploration partner in central Australia, says it is in talks with two groups, including a U.S. oil services company, interested in helping to develop its prospects.
    • Linc wants to move ahead with its five-well drilling program at the shale oil properties in South Australia’s Arckaringa Basin on the assumption that a prospective partner will step up; Linc said earlier this year that it had been contacted by several companies interested in funding the development.
    • Chevron (CVX), ConocoPhillips (COP), BG Group (BRGYY.PK, BRGXF.PK) and Statoil (STO) are among global energy companies that have made shale investments so far in Australia.
    | Sep. 25, 2013, 9:06 AM | 1 Comment
  • Sep. 24, 2013, 8:39 AM
    • Chevron (CVX) reportedly will receive bids on Sept. 30 from prospective buyers of three oil blocks in the Niger Delta, with several local Nigerian firms in the running.
    • Oil industry sources estimate the mean value of the three blocks combined at $500M-$600M and anticipate winning bids will be around those levels.
    • CVX said in June it would be selling its 40% stake in five onshore blocks with total oil reserves of ~134M barrels and 5T cf of gas.
    | Sep. 24, 2013, 8:39 AM
  • Sep. 23, 2013, 11:42 AM
    • Apache (APA -0.6%) names Rod Eichler as CEO of its proposed Kitimat liquefied natural gas export facility in Canada, a strong sign the project may be moving forward.
    • Eichler has been with APA for 20 years, including the past two years as COO; analysts say it’s an encouraging sign that APA is naming such a high-ranking executive in charge of the Kitimat development.
    • Eichler's appointment is one of a series of executive changes taking effect Jan. 1.
    • The Kitimat project, 50% owned by Chevron (CVX +0.2%), would allow for exports of Canadian gas to Asia and other overseas markets.
    | Sep. 23, 2013, 11:42 AM
Company Description
Chevron Corp. is an integrated energy company, which provides administrative, financial, management and technology support to U.S. and international subsidiaries that engage in fully integrated petroleum operations, chemicals operations, mining operations, power generation and energy services.... More
Industry: Major Integrated Oil & Gas
Country: United States