BP stock experienced a sharp drop this week, even after the British energy giant reported a stronger-than-expected third-quarter profit. However, the positive earnings report did little to reassure investors, who have increasingly scrutinised BP’s financial stability and strategic direction compared to competitors ExxonMobil and Chevron. Despite a slight earnings beat, BP’s revenue missed expectations, production […]
Canadian Natural Resources has entered into an agreement to acquire the Alberta assets of Chevron Canada, an indirect subsidiary of Chevron Corporation, for a total consideration of $6.5 billion. This strategic acquisition represents a pivotal expansion in Canadian Natural’s oil sands and shale portfolio, incorporating Chevron’s 20% stake in the Athabasca Oil Sands Project (AOSP) […]
Chevron Corporation, through its subsidiary Chevron Australia New Ventures Pty Ltd, has secured a pivotal greenhouse gas (GHG) assessment permit offshore Western Australia, marking a significant expansion in its carbon capture and storage (CCS) initiatives. The permit, designated G-18-AP, spans approximately 8,467 square kilometers off the coast of Onslow, Western Australia. It will play a […]
Toyota Logistics Services recently marked a milestone in sustainable automotive fuel with a special delivery from Chevron: 4,000 gallons of a groundbreaking renewable gasoline blend. This innovative fuel, which contains over 50% renewable content, aims to significantly lower carbon emissions compared to conventional gasoline. The delivery is part of Chevron’s and Toyota’s broader commitment to […]
QatarEnergy has reached a significant agreement to acquire a 20% working interest in the offshore Block 5 production sharing contract in Suriname. This move marks a notable expansion for QatarEnergy into the South American oil market, highlighting its ongoing commitment to exploring new and promising oil basins. Under the terms of the agreement, Chevron Corporation, […]
Sintana Energy Inc. (TSX-V: SEI, OTCQB: SEUSF) has announced a significant advancement in its offshore operations in Namibia through a new partnership with Chevron Namibia Exploration Limited (CNEL), an affiliate of Chevron Corp. (CVX). Effective April 28, Chevron has taken an 80% working interest and operatorship in Petroleum Exploration License 82 (PEL 82), signaling a […]
Trident Energy, a UK-based company specializing in mid-life oil and gas assets, has announced its expansion into the Republic of Congo through two separate acquisition deals with Chevron and TotalEnergies. These transactions mark a significant step in Trident’s growth strategy and its commitment to enhancing its portfolio in Africa. From Chevron, Trident Energy will acquire […]
Chevron Corporation (NYSE: CVX) has recently declared its anticipated organic capital expenditure range for 2024, spanning $15.5 to $16.5 billion for consolidated subsidiaries (capex) and an additional $3 billion for affiliate capital expenditure (affiliate capex). This comprehensive plan underscores Chevron’s commitment to expanding its energy operations across various sectors. Major Focus on Upstream Spending and […]
Chevron Corporation has inked a definitive agreement with Hess Corporation for an all-stock purchase valued at $53 billion, which translates to $171 per share. This evaluation is based on Chevron’s closing price on October 20, 2023. As per the transaction terms, every Hess shareholder will receive 1.0250 shares of Chevron for their Hess share, bringing […]
Chevron U.S.A. Inc., through its Chevron New Energies division, has closed a deal to acquire 100% of Magnum Development, LLC, and thereby secure a majority interest in ACES Delta, LLC. The joint venture between Mitsubishi Power Americas, Inc., and Magnum Development is developing the Advanced Clean Energy Storage project in Delta, Utah. The ACES Delta […]