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Chevron shuts its oil production facilities
March 14, 2019

Chevron shuts its oil production facilities

According to the sources, Chevron has closed some of its oil production facilities in the Gulf of Mexico. Chevron has taken this step after the operator, Shell Pipeline Company shut down its almost 350,000 bpd Amberjack pipeline system. Amberjack connects the fields of the Gulf of Mexico to the Texas and Louisiana Gulf Coast refiners. The facilities shut down by Chevron include Jack/St. Malo, Tahiti, Big Foot and Genesis.

CERAWeek 2019 Day 2- “Localization is key to globalization”
March 14, 2019
Source: World Oil

CERAWeek 2019 Day 2- “Localization is key to globalization”

During Day 2 of CERAWeek 2019, diversification, transformation and globalisation were some of the most talked about topics. Chevron's Chairman and CEO continued with the leadership dialogue and talked about the company's goals in the Permian Basin. The special feature of CERAWeek, Innovation Agora was all about energy innovation, emerging technologies and solutions. Pompeo talked about MESA and encouraged other countries to align with the US.

Aker Solutions wins FEED contract in Australia
March 13, 2019
Source: World Oil

Aker Solutions wins FEED contract in Australia

Aker Solutions has been awarded a master contract for subsea compression system. The contract is for the Chevron Australia-operated Jansz-Io field, offshore Australia. Under this master contract, the first service contract will be for front-end engineering and design of a subsea compression station in order to boost gas recovery from the field. The scope of this contract will also include an unmanned power and control floater, and field system engineering services.

Shell on a hunt for Permian deals
March 12, 2019
Source: Energy Voice

Shell on a hunt for Permian deals

Energy major, Shell is on a hunt for Permian deals in order to improve its position in the basin. Shell’s deepwater boss said, "If none ever come up then that’s a disappointing outcome.” Its rivals Exxon and Chevron, on the other hand, are planning to produce nearly 2 million barrels of oil by the mid-2020s. According to Sawan, Shell's Permian operations will be cash flow positive in the coming years.

Oil prices drop over rising US crude production, inventories
March 6, 2019
Source: Reuters

Oil prices drop over rising US crude production, inventories

Buoyant output forecasts by Exxon Mobil and Chevron and rising US crude stockpiles sent oil prices for a 1% downfall today. While Brent crude dipped 0.8% to $65.31/barrel, US WTI crude futures fell 0.9% to $56.05/barrel. Chevron and Exxon’s projections for the Permian Basin yesterday indicated escalations in shale oil production. Oil prices also took a hit from API report showing a rise of 7.3 million barrels in the inventories.

Chevron to buy its second Gulf Coast facility for $350 mn
Jan. 31, 2019

Chevron to buy its second Gulf Coast facility for $350 mn

Chevron has eyed on the Petrobras’ 110,000 bpd refinery in Pasadena. Chevron is ready to pay $350 million to Petrobras for the same. Further, the company also wants to take the ownership of a 466-acre complex on the Houston Ship Channel. This is in line with the Chevron’s plan to own a second Gulf Coast facility after reporting an increase of 150,000-bpd in its shale production in the third quarter.

Genel Energy to acquire Chevron’s stakes in Iraq blocks
Jan. 24, 2019

Genel Energy to acquire Chevron’s stakes in Iraq blocks

British oil firm, Genel Energy has inked an agreement to acquire Chevron’s stakes in Iraq oil blocks. Genel will gain ownership of 30% interest in the Sarta licence and 40% interest in the Qara Dagh licence. Until a specific production target is reached in the Sarta license, Genel will account for 50% share of ongoing field development costs. The firm will become the operator of the Qara Dagh licence.

Equinor completes Rosebank acquisition
Jan. 12, 2019
Source: World Oil

Equinor completes Rosebank acquisition

Equinor has acquired 40% operated interest of Chevron in the Rosebank project in the UK Continental Shelf. This acquisition was announced in October 2018 and has now been completed by both the energy companies. This Rosebank deal has further added to Equinor’s upstream portfolio which already includes Mariner development. Currently, Equinor is the largest crude oil and natural gas supplier to the UK.

Maersk Supply Service receives a long-term contract from Chevron
Jan. 10, 2019
Source: World Oil

Maersk Supply Service receives a long-term contract from Chevron

Maersk Supply Service has been given a contract by Chevron Australia. This contract is regarding the two newbuild anchor handling tug supply vessels of Maersk which will be used in Chevron’s Gorgon Stage Two drilling program. The services will start from the second-quarter of 2019. Towing, anchor handling, supply, and WROV services will be provided by Maersk Mariner and Maersk Master.

Chevron inks $830m deal with Transocean
Dec. 29, 2018
Source: E&P

Chevron inks $830m deal with Transocean

Transocean has entered into an agreement with supermajor, Chevron for $830m, to provide drilling services through an ultra-deepwater drillship, in the Gulf of Mexico. The under-construction ultra-deepwater drillship is expected to start operations in 2021. A press release from Transocean detailed the features of the drillship such as dual 20,000 psi blowout preventers, net hook-load capacity of three million pounds, among other specifications.

Chevron reveals its capital spending budget of 2019
Dec. 7, 2018

Chevron reveals its capital spending budget of 2019

US’ second-largest oil producer, Chevron Corp has increased its oil and gas project budget for the first time in four years. The energy major will be spending $20 billion in 2019. The areas of investment will include shale production, and refining and chemicals. According to the information, $3.6 billion will be spent in the Permian Basin and New Mexico and $1.6 billion for other shale regions.

Chevron’s Utah plant might have received RFS waiver
Nov. 21, 2018
Source: Reuters

Chevron’s Utah plant might have received RFS waiver

Sources have revealed that the US Environmental Protection Agency approved a 2017 hardship waiver from US biofuel laws to Chevron Corp’s Utah refinery earlier this year. The Renewable Fuel Standard (RFS) necessitates refiners to blend biofuels into their fuel pool or instead buy compliance credits from competitors that do. Corn-belt farmers are exasperated because of the waivers which hurt the demand for ethanol and other biofuels.

Chevron contributes to California Fire relief
Nov. 15, 2018
Source: Business Wire

Chevron contributes to California Fire relief

Oil supermajor, Chevron has announced a $1 million aid to the American Red Cross in support of relief efforts for wildfires in Northern and Southern California. Chairman and CEO, Chevron, Michael Wirth said, “Our thoughts are with all our neighbours who have been affected by the fires, and we honor all those working to contain them.”

McDermott secures Lukoil’s EPC contract
Oct. 17, 2018

McDermott secures Lukoil’s EPC contract

EPC giant, McDermott International secured an EPC contract of a Delayed Coker Unit, from LUKOIL NizhegorodNefteorgSyntez. The unit will be installed in the Deep Conversion Complex, to be constructed in Kstovo, Russia. This award follows a contract awarded in 2016 to McDermott's JV with Chevron, Chevron Lummus Global (CLG), for its delayed coking technology.

Chevron to support Hurricane Michael relief with $500k
Oct. 17, 2018
Source: Energy Voice

Chevron to support Hurricane Michael relief with $500k

Oil supermajor, Chevron has announced a $500,000 contribution to support Hurricane Michael relief measures. Hurricane Michael, which was a Category 4 storm, took a massive toll on the Gulf Coast and Florida, while spawning numerous tornadoes. The money will be split equally between the American Red Cross and Volunteer Florida. President of Chevron Americas Products believes that the donation will help the families in the area get immediate assistance.

Chevron to exit Norwegian Continental Shelf
Oct. 11, 2018
Source: Reuters

Chevron to exit Norwegian Continental Shelf

Oil supermajor, Chevron has become the first major oil and gas firm to leave the Norwegian continental shelf (NCS). Chevron is transferring its 20% interests in an exploration license in the Arctic to DNO. The Norwegian oil and energy ministry wrote that decision indicates “Chevron Norway shuts down its activities in Norway and leaves the NCS permanently”. A number of oil majors have edged down their presence in Norway.

Chevron extends Petrofac’s contract
Oct. 4, 2018
Source: Energy Voice

Chevron extends Petrofac’s contract

Oilfield services provider, Petrofac has received one year extension for its services on oil major, Chevron’s rigs in the North Sea. Petrofac has been providing engineering services, apart from operations, maintenance and construction personnel to Chevron from 2014. The service provider has carried out installations of Alba Northern, Erskine, and Captain Platforms, along with the Alba FSU and Captain FPSO vessel.

Auction and fears in Brazil
Sept. 25, 2018

Auction and fears in Brazil

As previously announced, auction for the four blocks in Rio de Janeiro in the Santos in Campos basins will be held just a week before the presidential elections, on Friday. The companies registered for this are CNOOC, Chevron Corp, Equinor, BP and Total. These companies will have the last chance to try for one of the most wanted Brazil’s offshore oil. There is a fear regarding obstacles for foreign investment.

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