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 Shipping Company has joined the Sea Cargo Charter, an initiative aimed at promoting responsible shipping practices and aligning with United Nations decarbonization targets. This charter provides a framework for assessing and disclosing shipping emissions, aiming to reduce greenhouse gas emissions by at least 50% from 2008 levels by 2050. Mark Ross, president of Chevron Shipping, expressed excitement about joining this initiative to enhance transparency in environmental performance. The inclusion of Chevron signifies its commitment to industry leadership in sustainability.
Chevron Corporation (NYSE: CVX) has announced a 2022 capital and exploratory spending program of
Chevron, Pavilion Energy, and QatarEnergy have developed a groundbreaking methodology for quantifying and reporting greenhouse gas emissions associated with liquefied natural gas (LNG) cargoes. This innovative approach aims for universal adoption and enhances transparency in GHG reporting from the wellhead to the discharge terminal. The methodology, backed by sustainability experts, aligns with industry standards and complements existing efforts by the International Group of LNG Importers. This initiative reflects a commitment to accountability and supports decarbonization strategies within the LNG value chain.
Majed Nachawati has been appointed co-lead counsel for consolidated litigation in California regarding paraquat-based herbicides, including Gramoxone, and their alleged link to Parkinson's disease. The lawsuits target Syngenta and Chemical Co., associated with Chevron (CVX) and Phillips 66 (PSX). Plaintiffs claim exposure has caused serious health issues, prompting the litigation to hold manufacturers accountable. Studies have linked paraquat to the progressive brain disorder, emphasizing the need for transparency in product safety.
Chevron Corporation (NYSE: CVX) reported third quarter 2021 earnings of $6.1 billion ($3.19 per share), a significant turnaround from a $207 million loss in Q3 2020. Key highlights include record free cash flow of $6.7 billion and cash flow from operations of $8.6 billion. Operational improvements led to a 7% increase in worldwide net oil-equivalent production to 3.03 million barrels per day. The company reduced debt by $5.6 billion and repurchased $625 million of shares, showcasing strong performance in a favorable market environment.
The Board of Directors of Chevron Corporation (NYSE: CVX) has declared a quarterly dividend of $1.34 per share, payable on December 10, 2021, to shareholders on record as of the close of business on November 18, 2021. Chevron is a leading integrated energy company, focused on delivering affordable and reliable energy while reducing carbon intensity in its operations. The company is committed to growing its lower carbon businesses alongside its traditional energy operations.
Chevron Corporation (CVX) has announced the results of its cash tender offers for various notes, increasing the maximum purchase amount from $2 billion to approximately $2.609 billion. The offers expired on October 8, 2021, with a total of $4.187 billion in notes validly tendered. Of this, $2.589 billion has been accepted for purchase. Holders of accepted notes will receive the total consideration and accrued coupon payments. Chevron emphasizes the importance of these offers for its liquidity management.
Chevron Corporation (NYSE: CVX) has adopted a 2050 net zero aspiration for upstream Scope 1 and 2 emissions and established a new 2028 GHG intensity target for Scope 1, 2, and 3 emissions. The company is focusing on a Portfolio Carbon Intensity target, which integrates Scope 3 emissions from product usage. Chevron aims for a greater than 5% reduction in carbon emissions intensity from 2016 levels by 2028. The updated climate change report emphasizes Chevron's commitment to transparent carbon accounting and engagement with stakeholders to advance a lower carbon future.
Chevron Corporation (CVX) announced pricing terms for 23 cash purchase offers totaling $2.0 billion for outstanding notes. The Offers encompass various series of notes, including 5.250% and 6.000% notes maturing between 2041 and 2047. The calculated Total Consideration varies per series, influenced by the U.S. Treasury yield. The Offers expire on October 8, 2021, with potential extensions. Accepted notes will receive cash payments on the corresponding settlement dates, including accrued interest.
Chevron Phillips Chemical Company announces the retirement of Scott Sharp, executive vice president, effective Nov. 1, 2021, after 42 years with the company and Chevron Corporation (CVX). Sharp's contributions include overseeing joint ventures in Qatar and leading U.S. Gulf Coast expansion projects. In his place, Elliott Johnson will become senior vice president of EHS&S and Steve Prusak will expand his role to include the projects organization. The new leadership aims to continue advancing growth initiatives in the U.S. and Qatar.
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