Welcome to our dedicated page for Chevron Corporation news (Ticker: CVX), a resource for investors and traders seeking the latest updates and insights on Chevron Corporation stock.
Chevron Corporation (NYSE: CVX) is a renowned American multinational energy corporation headquartered in San Ramon, California. As the second-largest direct descendant of Standard Oil, Chevron is a significant player in the global oil and gas industry, operating in over 180 countries. The company's core business includes the exploration, production, and refining of oil and natural gas. Chevron's production activities span North America, South America, Europe, Africa, Asia, and Australia, with a daily output of 3.1 million barrels of oil equivalent, encompassing 7.7 million cubic feet of natural gas and 1.8 million barrels of liquids.
Chevron's refining operations are primarily based in the United States and Asia, boasting a total refining capacity of 1.8 million barrels of oil per day. As of the end of 2023, the company reported proven reserves of 11.1 billion barrels of oil equivalent, including 6.0 billion barrels of liquids and 30.4 trillion cubic feet of natural gas.
In addition to its traditional oil and gas ventures, Chevron is actively pursuing initiatives in renewable energy. A notable example is its partnership with Brightmark Fund Holdings LLC, forming Brightmark RNG Holdings LLC. This venture focuses on producing renewable natural gas (RNG) from dairy manure using anaerobic digestion technology. The latest project under this initiative is the Eloy Renewable Natural Gas center in Eloy, Arizona, which aims to capture methane from local dairy operations, converting it into RNG, fertilizer, and water. This circular approach not only reduces greenhouse gas emissions but also enhances agricultural and energy systems.
The project has significant environmental and economic benefits, including reducing carbon-dioxide equivalent emissions by over 900,000 tons through anaerobic digestion. It also supports the local economy by creating jobs and promoting sustainable agricultural practices.
Chevron continues to innovate and adapt in the rapidly evolving energy sector. The company is committed to lowering the carbon intensity of its operations and expanding into new, lower-carbon businesses such as hydrogen, carbon capture, and other emerging technologies. For more detailed information about Chevron's operations and initiatives, visit their official website at www.chevron.com.
Chevron has joined forces with Air Liquide, Keppel Infrastructure, and PetroChina to establish a consortium for advancing carbon capture, utilization, and sequestration (CCUS) solutions in Singapore. The initiative aims to develop integrated infrastructure to capture CO2 from industrial emitters and store it securely. By leveraging collaborative technology, the consortium seeks to support the energy and chemicals sector while contributing to Singapore's net-zero carbon objective by 2050. Chevron emphasizes its commitment to lower carbon futures through strategic partnerships and innovative technology.
Chevron Corporation (NYSE: CVX) has secured greenhouse gas assessment permits in three offshore areas in Australia through its affiliate, Chevron Australia Pty Ltd. These blocks span over 31,500 km2, exceeding the size of Belgium and located in the Carnarvon and Bonaparte Basins. This initiative supports Chevron's commitment to advancing carbon capture and storage (CCUS) in alignment with global net-zero goals. The company aims to enhance its operational efficiency while contributing positively to environmental efforts in the region.
Chevron Corporation (NYSE: CVX) announced the launch of the Chevron Exchange Q&A Series, starting with a virtual fireside chat featuring CFO Pierre Breber on September 15, 2022. This initiative, in partnership with Say Technologies, aims to enhance investor engagement by allowing verified retail shareholders to submit and upvote questions for management. The event will address key topics concerning Chevron's strategy, business, and financial performance. The Q&A platform will remain open until 48 hours prior to the event.
Chevron Corporation (NYSE: CVX) will participate in the Barclays CEO Energy-Power Conference on September 7, 2022, at 8:00 AM ET. CEO Mike Wirth will address the company's strategy focusing on higher returns and lower carbon initiatives. Investors can access a live webcast and replay of the event at www.chevron.com/investors. Chevron remains committed to providing affordable and cleaner energy while emphasizing carbon intensity reduction in its operations.
Chevron (NYSE: CVX) announced Dr. Anoop Kumar as the new president of the National Lubricating Grease Institute (NLGI). Based in Liberty, Missouri, the NLGI focuses on lubricating grease manufacturers. Dr. Kumar, with over thirty years of experience, aims to bring change to the industry with his six strategic priorities, including sustainability and addressing the lithium shortage. He has contributed significantly to the grease sector with 29 patents and over 90 publications. Chevron congratulated Dr. Kumar, anticipating his leadership will benefit the lubricant and grease industry.
Restaurant Technologies is enhancing its sustainability by integrating refined oil biofuels from Chevron Renewable Energy Group into its fleet operations. This initiative is part of a circular economy, utilizing the used cooking oil collected from over 34,000 customers nationwide, turning it into biodiesel and renewable diesel. Initially, the fleet will operate on a B30-B50 blend, minimizing carbon footprint. Both companies aim to promote lower carbon solutions in the transportation sector, with plans for further deployment across additional depot locations.
Chevron Lubricants has launched Delo TorqForce Syn FD-1, a full synthetic lubricant aimed at enhancing the performance of large mining haul trucks and support equipment. This product is engineered to outperform conventional lubricants, offering benefits such as an expanded temperature range for all-weather performance, advanced protection against wear and oxidation, and extended service intervals, allowing oil changes to extend from 4,000 to 6,000 hours. Chevron's rigorous testing ensures reliable performance, maximizing productivity in harsh conditions.
Cheniere Energy Partners reported a second quarter 2022 net income of $342 million, down from $395 million in 2021. Adjusted EBITDA rose to $1.0 billion, a 42% increase. Revenue soared 121% to $4.18 billion. The company declared a cash distribution of $1.060 per common unit for unitholders, reaffirming a full year distribution guidance of $4.00 - $4.25. A long-term LNG agreement with Chevron was also established, with deliveries starting in 2026. However, non-cash losses in commodity derivatives affected net income significantly.
Cheniere Energy reported robust financial results for Q2 2022, achieving Consolidated Adjusted EBITDA of approximately $2.5 billion and $5.7 billion for the three and six months ended June 30, respectively. Net income was $0.7 billion for Q2, a significant recovery from a loss in Q2 2021. Full-year guidance for Consolidated Adjusted EBITDA is raised to $9.8 - $10.3 billion. The company secured long-term contracts totaling 140 million tonnes of LNG through 2050 and made a positive final investment decision on the Corpus Christi Stage 3 Project.
Chevron (CVX) and Brightmark announced the successful first delivery of renewable natural gas (RNG) from the Athena Project in Minnehaha County, South Dakota. The partnership aims to produce and market RNG from dairy biomethane, contributing to lower carbon fuel solutions. The captured methane from manure will be converted into RNG for transportation and electricity. This milestone highlights the collaboration's potential to support sustainable fuel initiatives and reduce lifecycle carbon emissions.
FAQ
What is the current stock price of Chevron Corporation (CVX)?
What is the market cap of Chevron Corporation (CVX)?
What is Chevron Corporation?
Where is Chevron headquartered?
What are Chevron's main business operations?
How much oil and gas does Chevron produce daily?
What are Chevron's proven reserves?
What is the Brightmark RNG Holdings LLC venture?
What is the Eloy Renewable Natural Gas center?
How does Chevron contribute to renewable energy?
What is Chevron's refining capacity?
Where can I find more information about Chevron?
