Chevron Corporation
 (CVX)

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  • Feb. 7, 2013, 10:49 AM

    Chevron (CVX -1%) reports another natural gas discovery off the Western Australian coast - its 20th one since mid-2009 - as its Kentish Knock South-1 exploration well encountered ~75 meters of net gas pay in the upper Mungaroo Sands. CVX says the discovery follows recent drilling success in the Carnarvon Basin; in September, CVX unveiled a major discovery in the Gorgon area.

    | Feb. 7, 2013, 10:49 AM
  • Feb. 6, 2013, 9:36 AM

    Chevron (CVX -0.5%) says it will proceed with development of the $5.6B Mafumeira Sul project located offshore Angola. The project is expected to reach first oil in 2015 and build toward peak daily production of 110K barrels of crude oil and 10K barrels of liquefied petroleum gas. CVX’s subsidiary is the operator and holds a 39.2% interest in Mafumeira Sul.

    | Feb. 6, 2013, 9:36 AM
  • Feb. 4, 2013, 3:52 PM

    Observers say an Argentine's court decision last week to uphold a $19B embargo against Chevron's (CVX) local subsidiary makes it unlikely the company will pour money into the country. CVX's agreement to team with Argentina's YPF to invest ~$1B to explore the Vaca Muerta shale formation, with the prospect of $15B in investments in coming years, now seems doubtful.

    | Feb. 4, 2013, 3:52 PM | 9 Comments
  • Feb. 4, 2013, 8:14 AM

    Chevron (CVX) wins support from Lithuania's president for shale gas exploration plans that some of the country’s lawmakers oppose, citing the need for an alternative to Russian gas. Lithuania probably has ~180B cubic meters of recoverable shale gas, the equivalent of 60 years' consumption in the country. CVX -1% premarket after UBS cuts shares to Neutral from Buy on valuation.

    | Feb. 4, 2013, 8:14 AM
  • Feb. 1, 2013, 3:56 PM

    Exxon Mobil (XOM +0.1%) and Chevron (CVX +1.2%) both posted Q4 earnings beats (I, II), but only CVX is getting some love today. XOM “needs multiple projects to offset declining production,” but it hasn’t announced substantial projects for some time, Edward Jones' Brian Youngberg says. At CVX, output is higher and "you see the potential for them to accelerate," plus it's more profitable on a per-barrel basis.

    | Feb. 1, 2013, 3:56 PM
  • Feb. 1, 2013, 9:54 AM
    Fines amounting to $8B sought by Nigeria from Shell (RDS.A) and Chevron (CVX) for oil spills are not backed by law, according to the chairman of the country’s Senate Committee on Environment. That doesn't mean laws won't be changed, but observers say tough measures are unlikely to be enforced against companies engaged in partnerships with the government.
    | Feb. 1, 2013, 9:54 AM | 1 Comment
  • Feb. 1, 2013, 8:52 AM

    More on Chevron's (CVX) Q4 results: Worldwide net oil-equivalent production was 2.67M bbl/day, up 1.1% Y/Y. U.S. downstream operations earned $331M vs. a loss of $204M a year ago, due to improved refining margins and higher earnings from the chemicals unit. International downstream earned $594M vs. $143M a year ago, benefiting from higher gains on asset sales. Shares +0.2% premarket.

    | Feb. 1, 2013, 8:52 AM | 1 Comment
  • Feb. 1, 2013, 8:31 AM
    Chevron (CVX): Q4 EPS of $3.70 beats by $0.65. Revenue of $60.5B (+0.9% Y/Y) misses by $6.31B. (PR)
    | Feb. 1, 2013, 8:31 AM
  • Feb. 1, 2013, 12:05 AM

    Notable earnings before Friday’s open: AON, BEAM, BEN, BPO, CVX, HCLP, IR, LM, LYB, MAT, MRK, NOV, NS, NWL, PRGO, TSN, WETF, XOM

    | Feb. 1, 2013, 12:05 AM
  • Jan. 31, 2013, 5:30 PM

    Notable earnings before Friday’s open: AON, BEAM, BEN, BPO, CVX, HCLP, IR, LM, LYB, MAT, MRK, NOV, NS, NWL, PRGO, TSN, WETF, XOM

    | Jan. 31, 2013, 5:30 PM
  • Jan. 31, 2013, 2:59 PM

    Chevron (CVX) says it will consolidate its supply and trading functions into a single group within its gas and midstream business, a move CEO John Watson says will "create value across our upstream and downstream assets."

    | Jan. 31, 2013, 2:59 PM
  • Jan. 30, 2013, 6:09 PM
    Chevron Corporation (CVX) declares $0.90/share quarterly dividend, in line with previous. Forward yield 3.09%. For shareholders of record Feb. 15. Payable Mar. 11. Ex-div date Feb. 13. (PR)
    | Jan. 30, 2013, 6:09 PM | 3 Comments
  • Jan. 30, 2013, 4:52 PM
    Chevron (CVX) loses its appeal in Argentina against asset freezes to enforce an Ecuadorean judgment for it to pay $19B in damages for environmental pollution. Even as CVX has refused to make any payments and accuses Ecuadorean courts of fraud, it may need to spell out the impact of the decision in its upcoming financial statements or risk violating SEC rules.
    | Jan. 30, 2013, 4:52 PM | 2 Comments
  • Jan. 28, 2013, 11:51 AM

    Chevron (CVX) says a former Ecuadorian judge revealed he and a colleague let plaintiffs lawyers ghostwrite their own $18.2B judgment against it in exchange for a promise of $500K. The bribery charge is new, and the ghostwriting charge is more sweeping and better substantiated than before. But CVX isn't totally off the hook, as the judge says CVX paid him for physical evidence he turned over.

    | Jan. 28, 2013, 11:51 AM | 6 Comments
  • Jan. 24, 2013, 11:57 AM

    Chevron (CVX +1%) reportedly has acquired a stake in a new oil exploration block in Iraq’s Kurdish region, adding to its existing oil licenses in the region acquired from India's Reliance Industries. The presence of CVX and other western oil majors such as Exxon has stirred anger from Iraq’s central government, which says the Kurds have no right to grant exploration licenses.

    | Jan. 24, 2013, 11:57 AM
  • Jan. 22, 2013, 12:09 PM

    Chevron (CVX) signs agreements to explore for oil and gas in three offshore deepwater areas in Morocco, in a push to expand its footprint in frontier basins. The areas encompass ~11,300 sq. miles with average water depths ranging from 330 14,700 ft.

    | Jan. 22, 2013, 12:09 PM
Company Description
Chevron Corp provides administrative, financial, management and technology support to U.S. & international subsidiaries that engage in fully integrated petroleum operations, chemicals operations, mining operations, and power and energy services.