Welcome to our dedicated page for Chevron news (Ticker: CVX), a resource for investors and traders seeking the latest updates and insights on Chevron stock.
Chevron Corporation (NYSE: CVX) is frequently in the news as one of the world’s leading integrated energy companies. Company announcements highlight its role in producing crude oil and natural gas, manufacturing transportation fuels, lubricants, petrochemicals and additives, and developing technologies that support both its core energy operations and its emerging new energies businesses.
News about Chevron often centers on quarterly and annual financial results, including earnings, cash flow from operations, capital expenditures, and segment performance in U.S. and international upstream and downstream operations. These releases provide details on net oil-equivalent production, refinery crude unit inputs, refined product sales, and the contribution of affiliates such as Tengizchevroil. They also discuss how acquisitions like Hess Corporation affect production, earnings, and portfolio composition.
Investors following CVX news will see regular updates on capital programs and guidance. Chevron has announced multi-year capital expenditure ranges, with most spending directed to upstream projects such as U.S. shale and tight assets and global offshore developments, and a portion allocated to downstream projects and initiatives that lower the carbon intensity of operations and grow new energies businesses. Investor day presentations describe expectations for cash flow growth, return on capital employed, and synergies from acquisitions.
Chevron’s news flow also includes leadership and governance developments, such as changes in executive roles, appointments to the board of directors, and amendments to corporate by-laws. In addition, the company issues advisories for earnings conference calls and webcasts, giving investors and analysts access to management’s commentary on results and outlook.
Another theme in Chevron-related news is its expansion into new energies and power solutions, including renewable fuels, carbon capture and offsets, hydrogen, and power generation for data centers. The company’s involvement with technology partners, such as its use of a predictive procurement platform described by Arkestro, illustrates how Chevron applies digital tools to procurement and supply chain management.
For anyone tracking CVX, this news page brings together earnings releases, capital program updates, acquisition integration milestones, leadership changes, and strategic announcements on new energy initiatives, providing a consolidated view of Chevron’s ongoing developments.
Chevron U.S.A. Inc., through its New Energies division, has finalized an expanded joint venture with Talos Energy Inc. and Carbonvert, Inc. to develop the Bayou Bend CCS offshore carbon capture hub, effective May 1, 2022. Chevron acquires a 50% stake for $50 million, including $30 million upfront. The joint venture will comprise 25% Talos, 25% Carbonvert, and 50% Chevron, with Talos acting as operator. An Area of Mutual Interest covers approximately 231,000 acres in Jefferson County, Texas, enabling future project expansions.
Chevron Corporation (NYSE: CVX) will participate in the Bernstein Strategic Decisions Conference on June 1, 2022, at 9:00 AM ET. The company's chairman and CEO, Mike Wirth, will discuss Chevron's corporate strategy aimed at achieving higher returns while reducing carbon emissions.
For those interested, a live webcast of the event will be available at www.chevron.com/investors, along with a replay post-event. Chevron is committed to providing affordable, reliable, and cleaner energy solutions.
Chevron U.S.A. Inc., through its New Energies division, is launching a carbon capture and storage (CCS) project in San Joaquin Valley, California, aimed at reducing its carbon intensity. The initiative will begin at the Kern River Eastridge cogeneration plant, utilizing technology to capture CO2 emissions and store them underground. Chevron has applied for a Conditional Use Permit and is exploring additional lower carbon technologies. Local stakeholders express support for the project, citing job creation and community benefits.
Renewable Energy Group (REG) has announced that its stockholders approved the Merger Agreement with Chevron, with over 80% voting in favor during the meeting on May 17. This acquisition aims to position REG as a leading player in sustainable fuel production. The Merger is anticipated to close mid-2022, pending regulatory approvals. CEO CJ Warner expressed confidence in the continuation of sustainable fuel delivery post-merger. REG produced 480 million gallons of cleaner fuel in 2021, significantly contributing to carbon reduction efforts.
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Chevron Corporation (NYSE: CVX) has approved the Ballymore project in the U.S. Gulf of Mexico, aiming for a capacity of 75,000 barrels of oil per day. This project utilizes a subsea tieback method to the Blind Faith platform, significantly lowering development costs. With an investment of $1.6 billion, first oil is anticipated by 2025. The potential recoverable resources are estimated at over 150 million barrels.
Chevron Corporation (NYSE: CVX) and PT Pertamina (Persero) have entered into a partnership to explore lower carbon business opportunities in Indonesia. The partnership aims to leverage novel geothermal technologies, carbon offsets, carbon capture, utilization, and storage (CCUS), and lower carbon hydrogen solutions. This collaboration follows a Memorandum of Understanding signed in Washington, D.C., as both companies support Indonesia's target for net zero emissions by 2060. Pertamina aims to increase its renewable energy mix from 9.2% in 2019 to 17.7% by 2030, enhancing local energy security.
Chevron Products Company has unveiled a new package design for its Chevron Delo heavy-duty diesel engine oils, including the Delo 400 XSP SAE 15W-40. The ergonomic design features a two-handle 1-gallon jug for improved handling, an air-scoop opening to reduce spills, and updated labels for easier product selection. The packaging transition begins this month, informed by extensive customer feedback aimed at enhancing user experience.
Chevron, Talos Energy, and Carbonvert have signed a memorandum of understanding (MOU) to expand their joint venture on the Bayou Bend CCS project in Texas. This hub aims to sequester up to 275 million metric tons of CO2. Chevron will hold a 50% equity stake, with Talos and Carbonvert each holding 25%. The joint venture is positioned as a significant step in the development of offshore carbon capture and storage in the U.S., following the initial 2021 lease win.
Chevron U.S.A. and Bunge North America have formed Bunge Chevron Ag Renewables LLC, marking the completion of their previously announced joint venture. This new entity aims to innovate in the development of renewable fuel feedstocks by combining Bunge's oilseed processing expertise with Chevron's fuel manufacturing capabilities. The collaboration underscores both companies' commitment to sustainability and meeting the growing demand for cleaner energy solutions.
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