Chevron Corporation

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  • Dec. 5, 2012, 11:59 AM

    Chevron (CVX) hopes to see a moratorium on hydraulic fracturing lifted in Romania, and weekend elections could determine whether the country will allow foreign oil companies to go ahead with fracking of its sizable shale deposits. Anti-fracking sentiment is strong in Romania, and CVX stands to lose its existing exploration rights if the new government doesn't play ball.

    | Dec. 5, 2012, 11:59 AM | 1 Comment
  • Dec. 5, 2012, 10:44 AM

    The U.S. shale boom has cut natural gas prices, and they could go still lower if the Chinese come through with finds on a similar scale. But Chevron (CVX +0.5%), which is actively fracking in China, doesn’t expect rapid progress in production there, due to a shortage of geological data and insufficient infrastructure to support U.S.-style shale exploitation.

    | Dec. 5, 2012, 10:44 AM | 2 Comments
  • Dec. 4, 2012, 4:38 PM

    Repsol (REPYY.PK) sues Chevron (CVX) in U.S. federal court over CVX's cooperation agreement with Argentina's YPF. The Spanish company claims CVX entered into its contract after Argentina expropriated its majority stake in YPF, and it seeks a declaration that CVX has no rights under the contract and can't develop energy assets without authority from YPF.

    | Dec. 4, 2012, 4:38 PM | 1 Comment
  • Nov. 30, 2012, 6:15 PM
    Bloomberg reports BP has ~$2.43B in U.S. government contracts with the Defense Logistics Agency, which buys most of the fuel used by the Pentagon, set to expire in the next two years. The report follows the EPA's temporary ban of BP from Gulf operations. Among the companies that could benefit if the DLA opens up bids: VLO, CVX, RDS.A, INT.
    | Nov. 30, 2012, 6:15 PM | 1 Comment
  • Nov. 30, 2012, 12:38 PM

    Chevron (CVX) and Transocean (RIG) reportedly agree to change offshore safety and operating procedures as part of a Brazilian lawsuit seeking nearly $20B in damages for last year's Frade oil spill. The agreement was drafted at the companies' request with federal prosecutors handling the environmental lawsuits against CVX and RIG, the largest-ever in Brazil.

    | Nov. 30, 2012, 12:38 PM
  • Nov. 29, 2012, 3:44 PM
    Chevron's (CVX) Argentina subsidiary takes out full-page ads in the country's major newspapers to complain about a court order freezing its assets there, saying it harms its capacity to operate and reinvest given that the order affects more than 90% of its income through crude sales. CVX calls the judgment fraudulent, and is trying to persuade the courts in Buenos Aires to lift the embargo.
    | Nov. 29, 2012, 3:44 PM | 3 Comments
  • Nov. 28, 2012, 4:44 PM
    Chevron (CVX) and ConocoPhillips (COP) are the top bidders in the U.S. auction for drilling rights in the western Gulf of Mexico. CVX submitts the top sum of high bids at $56M, and pays the top bid for a single tract ($17.2M). COP submits the most high bids, 62, worth $52M overall. Exxon's (XOM) four successful bids are in deepwater blocks that will take years to develop.
    | Nov. 28, 2012, 4:44 PM
  • Nov. 28, 2012, 11:26 AM

    Australia’s resources sector has been its barrier to the global economic slump, but the country's minister of mines warns of a "challenging" cost inflation environment that has seen three of seven LNG projects announce average cost increases of 20%-plus and a fourth conduct a review. But the Down Under resource boom likely will continue for at least a while, Clyde Russell writes.

    | Nov. 28, 2012, 11:26 AM
  • Nov. 21, 2012, 2:58 PM
    Chevron (CVX) says the Spanish court where Repsol (REPYY.PK) filed a lawsuit against it for entering into an agreement with YPF to develop shale gas reserves in Argentina doesn’t have authority to rule on the deal. Vaca Muerta, the area in western Argentina where CVX wants to explore, contains the equivalent of more than 23B barrels of oil.
    | Nov. 21, 2012, 2:58 PM
  • Nov. 20, 2012, 12:17 PM

    Chevron (CVX) files an ethics complaint against NY Comptroller Thomas DiNapoli for using his office to "support the Ecuadorian plaintiffs' lawyers' scheme to pressure Chevron into settling the lawsuit in exchange for benefits received from the plaintiffs' representatives." CVX is defending itself against accusations of causing environmental and social harms in Ecuador.

    | Nov. 20, 2012, 12:17 PM | 1 Comment
  • Nov. 19, 2012, 2:54 PM

    A Spanish court agrees to consider a lawsuit by Repsol (REPYY.PK +2.5%) against Chevron (CVX +1.5%) and other companies that invest in YPF (YPF +5.3%) after Argentina seized control of the Spanish firm's majority stake in YPF in April. CVX and YPF announced a deal in September to jointly explore for shale oil and natural gas in Argentina's Vaca Muerta field.

    | Nov. 19, 2012, 2:54 PM
  • Nov. 16, 2012, 11:38 AM
    Consumer Watchdog accuses California refiners of “running their refineries and building inventories even when they said they were performing maintenance." It says Chevron's (CVX) Richmond refinery and Shell's (RDS.A) Martinez refinery were making gasoline even when they were said to be closed. The group also wants California's AG to block the sale of BP's Carson refinery to Tesoro (TSO).
    | Nov. 16, 2012, 11:38 AM | 3 Comments
  • Nov. 14, 2012, 10:48 AM

    The cost of Chevron’s (CVX -0.8%) massive Gorgon liquefied natural gas project in Western Australia could balloon as much as $20B, and CVX is expected to reveal the cost blow-out before year-end, sources say. CVX’s current cost estimate for the 15M metric tons/year LNG project, which is expected to deliver its first gas in 2014, is ~$37M.

    | Nov. 14, 2012, 10:48 AM | 5 Comments
  • Nov. 13, 2012, 3:59 PM

    Ukraine plans to sign production sharing agreements next month with Chevron (CVX), Exxon Mobil (XOM) and Royal Dutch Shell (RDS.A, RDS.B) to develop shale gas and offshore fields, according to a top official. Ukraine already has picked CVX to develop the Olessky shale field, with projected capacity of up to 1.5MMcf of gas, and Shell for the Yuzovsky shale field, storing up to 2MMcf of gas.

    | Nov. 13, 2012, 3:59 PM
  • Nov. 12, 2012, 12:18 PM

    Chevron (CVX -0.2%) is “in midst of reviewing” the costs of its own large Australian natural gas project, Gorgon, Tudor Pickering analysts say after Exxon Mobil (XOM -0.2%) revealed the cost of its natural gas project in Papua New Guinea had increased 21% to $19B. CVX's originally projected $37B costs for Gorgon could reach $45B, the firm says.

    | Nov. 12, 2012, 12:18 PM | 1 Comment
  • Nov. 12, 2012, 6:31 AM

    Iraq believes it can boost oil production to 9M bpd by 2018 from 3.25M bpd currently and even exceed 12M bpd, Oil Minister Abdul Kareem Luaiby says. Luaiby reckons reaching that capacity would require investment of $130B-$150B, which "could be shouldered by the foreign companies developing our fields."

    | Nov. 12, 2012, 6:31 AM
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.