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 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.
Team, Inc. (NYSE: TISI) has secured a multi-year contract with Chevron Corporation (NYSE: CVX) aimed at enhancing their mechanical integrity program. This partnership will integrate Chevron's upstream assets into TEAM's OneInsight™ platform, focusing on inspection, testing, and analytics. TEAM's Chairman and CEO, Amerino Gatti, emphasized the importance of emissions compliance and maintaining wellhead integrity. The collaboration aims to leverage TEAM's technological capabilities to offer comprehensive integrity services, addressing the growing demand in the upstream sector.
Chevron Corporation (NYSE: CVX) has initiated offers to purchase up to $2 billion of outstanding notes across 23 separate series. The acceptance of notes will follow specific priority levels, with no proration. The offers are conditioned on meeting the Maximum Purchase Condition and are set to expire on October 8, 2021. Holders whose notes are accepted will receive a Total Consideration plus accrued interest on the settlement dates, expected to be October 12 and 14, 2021. The company reserves the right to waive conditions and alter the offers.
Chevron Corporation (NYSE: CVX) announced the successful closure of its acquisition of an equity interest in American Natural Gas LLC, which includes a network of 60 compressed natural gas stations in the United States. This acquisition, previously announced, emphasizes Chevron's commitment to expanding its lower carbon business operations. American Natural Gas aims to support the transition to cleaner energy through its CNG fueling network.
Chevron Corporation (NYSE: CVX) will hold its quarterly earnings conference call on Friday, October 29, 2021, at 11:00 a.m. ET. The call will feature executives including Mark Nelson, Pierre Breber, and Roderick Green.
Investors can listen via a dial-in at 929-477-0308 or 800-289-0449, using conference ID 8912677. The live webcast will be available at www.chevron.com, with a replay accessible later in the Investors section.
Chevron Corporation (NYSE: CVX) has appointed Marissa Badenhorst as vice president of Health, Safety and Environment, effective January 1, 2022. Badenhorst succeeds Dave Payne, who is retiring on April 1, 2022, after 39 years with the company. Badenhorst previously served as general manager of Enterprise Process Safety and has over 20 years of experience at Chevron, holding various leadership roles globally. Under Badenhorst's leadership, Chevron aims to continue its record in safety performance.
Chevron Corporation mourns the passing of Alfred C. DeCrane, Jr., former Texaco Chairman and CEO, who died at age 90 on September 22, 2021. DeCrane's leadership during pivotal times for Texaco is acknowledged by current CEO Mike Wirth, who emphasized the legacy he leaves behind. DeCrane's career began at Texaco in 1959, leading to significant roles culminating in his appointment as CEO in 1993. His contributions extended beyond Texaco, including work for corporate boards after retirement in 1996. He is remembered fondly by colleagues and family.
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