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Chevron Corporation (CVX)

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  • Sep. 12, 2012, 8:56 AM
    ConocoPhillips (COP) is the latest foreign oil firm to express interest in Chinese shale,  showing how just as Chinese oil companies pile into North American shale gas, the reverse also is increasingly true. This week, China said it is offering 20 blocks in a shale gas tender, the first time foreign companies will be allowed to participate in JV bids as minority partners.
    | 3 Comments
  • Sep. 11, 2012, 5:32 PM
    Paul Cheng's key takeaways from Barclays' energy conference: Exxon (XOM) and Chevron (CVX) "offered strategic consistency, downplaying interest in a major acquisition, and a view that current industry trends such as MLP formation and increased mid-continent refining capacity are either unsustainable or insignificant for companies of their size." COP, HES and MUR "remain in transition."
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  • Sep. 5, 2012, 4:32 PM
    The head of Chevron’s (CVX) Brazilian unit can leave the country when his job ends later this month as long as he pays a bond of 500K reais ($245K) to assure his participation in court cases related to a November oil spill, a Brazilian court rules. More than a dozen employees of CVX and drill-rig owner Transocean (RIG) have been charged with crimes related to the spill.
    | 7 Comments
  • Aug. 31, 2012, 5:38 PM
    Gulf Coast energy producers are expected to bring significant production back online by the end of the long weekend. BP, still the Gulf's top producer, says it is redeploying staff to offshore facilities and will start producing in the coming days. Among others restaffing: RDS.A, CVX, APC. As of midday, 83% of platforms were still empty; 95% of oil production and 68% of gas were shut in.
    | 3 Comments
  • Aug. 30, 2012, 3:45 PM
    New YPF CEO Miguel Galuccio unveils a plan to boost capital spending and increase petroleum output and says the company has made "significant progress toward strategic agreements" with Chevron (CVX) and China's Cnooc (CEO). YPF expects to rely mainly on its cash flow to fund the $37B in investments needed to boost oil and natural gas output by about a third by 2017.
    | 1 Comment
  • Aug. 30, 2012, 5:46 AM
    YPF CEO Miguel Galuccio is set to hold talks with Exxon Mobil (XOM) and Apache (APA) at a conference in Houston in September as the nationalized Argentinian oil company seeks partners to increase shale-oil development, Bloomberg reports. Galuccio has already met Chevron (CVX), and could also travel to China next month to meet CNOOC (CEO) and Sinopec (SNP).
    | 3 Comments
  • Aug. 29, 2012, 10:50 AM
    Valero Energy (VLO -1.1%) leads a retreat across much of the oil sector as Hurricane Isaac leaves behind less damage to the Gulf Coast's energy industry than first feared. Among refiners: COP -0.2%, TSO -1%. Big E&Ps: XOM -0.2%, CVX -0.5%, MRO -1.1%. Oilfield services: RIG -1.5%, HAL -1.2%, SLB -0.7%. Explorers: APA -0.3%, APC -0.3%.
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  • Aug. 28, 2012, 2:34 PM
    A three-judge panel in Brazil upholds an injunction banning Chevron (CVX +0.7%) and Transocean (RIG +0.3%) from operating in the country, scolding the companies for failing to prevent last year's spill at the Frade field. The companies can still appeal the ban at a federal court.
    | 4 Comments
  • Aug. 28, 2012, 2:18 PM
    So is the Venezuelan oil fire out or not? Venezuela’s energy minister insists the inferno that has halted operations at its largest refinery is “totally extinguished," but a recent live broadcast by Venezuelan TV - which was swiftly cut off - showed flames and black smoke in at least one of the fuel storage tanks. Valero (VLO +1%) is the leading gainer among refiners; also XOM +0.3%, CVX +0.5%.
    | 4 Comments
  • Aug. 28, 2012, 4:42 AM
    Chevron (CVX) has a $21B cash pile and investors are wondering what the company will do with it. Chevron says it needs to protect itself as it carries out multi-billion dollar projects, but analysts speculate about possible buybacks, increased dividends and acquisitions, with Chesapeake (CHK) and Hess (HES) mooted as possible targets.
    | 1 Comment
  • Aug. 24, 2012, 10:49 AM
    Chevron (CVX) says it wants to partner with Argentina's YPF in developing the company’s Vaca Muerta shale formation. YPF says it needs financial and operational partners to develop the Connecticut-size area in southern Argentina that may contain at least 23B barrels.
    | 3 Comments
  • Aug. 23, 2012, 4:41 PM
    Chevron (CVX) says its Richmond, Calif., refinery continues to operate at a reduced capacity after the Aug. 6 fire at the facility's No. 4 crude unit, which remains shut down. The refinery normally has a capacity to process ~245K bbl/day; the company declines to reveal the current operating capacity.
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  • Aug. 23, 2012, 2:42 PM
    Chevron (CVX) says it plans to drill ~120 wells in Argentina during the next three years to search for unconventional gas and oil. Argentina ranks third in the world behind China and the U.S. in potentially recoverable shale gas reserves, but its unpredictable energy policies could prove a major impediment to attracting the billions of dollars needed to exploit those resources.
    | 4 Comments
  • Aug. 23, 2012, 8:18 AM
    Australia's liquefied natural gas industry is at risk because of cost increases and poor labor productivity in the country, Chevron's (CVX) Australia chief executive warns, saying the industry and government need to start talking about solving issues such as labor costs and taxes. CVX is building the huge Gorgon and Wheatstone gas export projects in Western Australia.
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  • Aug. 22, 2012, 9:09 AM
    Chevron (CVX) wins production rights to the Pakarang oil and gas field, covering 118.1 sq. km in the Gulf of Thailand. The field is expected to produce 4,300 bbl/day of crude oil and 59MMcf/day of natural gas. A Thai energy official estimates CVX will invest ~$600M in developing Pakarang, which should begin producing oil and gas in 2015.
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  • Aug. 21, 2012, 10:35 AM
    While Royal Dutch Shell’s (RDS.A, RDS.B) asset swap with Chevron (CVX) means a possible detractor of James Price Point project has stepped aside, analysts suggest Shell could be mulling a third option using revolutionary floating liquefied natural gas vessels to sit over the resource and process it for export out at sea where the gas lies.
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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.