Chevron NEWS

Thailand’s national upstream company PTTEP and US supermajor Chevron have boosted their upstream portfolios with the award of new acreage offshore Thailand offered in the country’s 24th licensing round.

US supermajor Chevron has agreed to sell its significant stake in the producing Yadana gas field offshore Myanmar to Canada’s MTI Energy, prompting Justice for Myanmar to call for Canadian and UK sanctions on state-owned Myanma Oil & Gas Enterprise (MOGE).

President Joe Biden reiterated his ire toward oil industry officials, verbally sparring with Chevron Corp. Chief Executive Officer Mike Wirth just days before administration officials and oil executives are set to discuss how to bring down gasoline prices. Wirth earlier called on Biden to stop criticizing the oil and gas industry and for a “change in approach” toward US energy policy in a rare, candid letter published Tuesday. Biden responded by calling the executive “mildly sensitive” and telling reporters at a White House press conference, “I didn’t know they’d get their feelings hurt that quickly.”

Chevron Corp (CVX.N) and the United Steelworkers union (USW) rejected each other's proposals to end a month-long strike at the company's Richmond, California, refinery, a union official said on Monday.

Are you a striking Chevron worker or worker at another refinery or petrochemical plant? Contact us to discuss your struggle and the fight to expand the Richmond strike.

Talks of a natural gas pipeline from Israel to Europe could be rekindled to provide the continent with an alternative to Russian gas amid Putin's invasion of Ukraine, Chevron CEO Michael Wirth said at the CERAWeek conference in Houston on Monday.

South Korea shipyard says this is the first time it has won offshore orders for two years in a row since 2014

Chevron and Reliance Industries are meeting with U.S. State Department officials reinstating transactions known as oil swaps that would allow companies to receive Venezuelan crude in exchange for supplying diesel.The U.S. imposed sanctions on Petroleos de Venezuela SA in early 2019, in an effort to dislodge President Nicolas Maduro from power by depriving his government of oil revenue.

Chevron Corp. decided to invest in Zap Energy Inc. Chevron came up with this decision as companies are facing increasing pressure from investors to reduce emissions and spend more on low-carbon energy and disclose the impact of their fossil fuel production on climate change. Chevron Corp. is added to the list after Italy’s ENI and Norwegian state oil company Equinor.

Norwegian firm DOF Subsea has secured two new contracts in the Asia-Pacific (APAC) region. The company has received an IMR services contract from Chevron Australia to support its North-West Shelf and nearshore subsea assets in Australia. DOF Subsea will provide Chevron with DP vessels, remotely operated underwater vehicles (ROVs), autonomous underwater vehicle (AUVs), and intervention, inspection, management and engineering services.

Chevron Corp’s surprise $5 for oil producer Noble Energy should spell this year’s deal drought, setting a benchmark that will trigger more buys. The COVID-19 pandemic destroyed fuel demand and left dozens of energy companies without the prospect of drilling their way out of debt. They may now be more willing to entertain deals with the Chevron offer as a standard. Chevron agreed to pay $5 a barrel for Noble’s proved reserves.

Amidst rising pressure on the oil and gas industry's stance on climate change, the members of the Oil and Gas Climate Initiative (OGCI) have agreed to reduce the average carbon intensity of their aggregated upstream operations to ~20-21 kg of CO2e/boe by 2025. The OGCI includes BP, Chevron, Exxon and various other Oil & Gas giants which together account for over 30% of the world’s oil and gas production.

San Ramon oil and gas giant Chevron Corp. will lay off up to 15% of its 45,000-person global workforce amid the economic havoc wrought on the energy sector by the coronavirus. The oil producer previously disclosed a 30% reduction in its 2020 spending and some voluntary job cuts amid this year's sharp drop in oil prices and lower demand for oil.

The number of COVID-19 cases rose to 160 in the Tengiz Oilfield in West Kazakhstan’s Atyrau region, while nearly 12,000 employees have been withdrawn from the site. The earliest cases occurred in a worker’s camp on the site, in April. Over 1,500 workers have been identified as close contacts, so far. Reportedly, a total of 17,000 employees will be demobilized by the end of next week.

Chevron Corp yesterday registered a 38% jump in profits for the quarter that ended March 31st, climbing on the back of asset sales. Unlike its competitors in the market, Chevron recorded $3.6 billion in profits, in comparison to $2.6 billion during the same period last year. Chevron gained from $1.6 billion in the asset sale, which came largely from the sale of oil and pipeline properties in Azerbaijan.

Sutton-based engineering, construction and services, Subsea 7 has landed a contract to deliver services to support Chevron's Anchor field operations, in the US Gulf of Mexico. The contract requires Subsea 7 to offer project management, engineering, procurement, construction and installation (EPCI) of subsea umbilicals, risers, and flowlines (SURF) components, flying leads, and jumpers. The Anchor oil and gas field is jointly owned by Chevron (62.86%) and Total (37.14%).

Chevron Technology Ventures (CTV) is performing a pre-FEED study for the trial of carbon-capture technology in its operations. Together with Svante Inc, the company will evaluate the feasibility and design of a 10,000 ton per year carbon capture unit at its facilities in California. “At Chevron, we believe our industry is well-positioned to help commercialize carbon capture, utilization and storage technologies that will be essential for the energy transition”, said CTV.

Indonesian hydrocarbon company, PT Pertamina has aimed to start drilling in Indonesia's Rokan oilfields in the third quarter of this year. It has planned to drill 20 wells minimum this year. The Indonesian government had decided in 2018 to hand over the operatorship of Pertamina over Rokan block as the contract with Chevron Corp ends in Aug'21.