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 (CVX) delivers essential energy resources through global upstream exploration and downstream refining operations. This centralized news repository provides investors and industry professionals with direct access to official announcements and market-moving developments.
Track Chevron's operational milestones through earnings reports, partnership announcements, and technology initiatives. Our curated collection features press releases on exploration projects, refinery expansions, and sustainability efforts without promotional bias.
Discover updates spanning Chevron's core oil and gas operations alongside emerging energy ventures. Content categories focus on financial disclosures, joint venture formations, operational efficiencies, and regulatory compliance matters relevant to energy sector stakeholders.
Bookmark this page for streamlined access to Chevron's evolving business narrative. Return regularly to monitor strategic decisions shaping one of the world's most integrated energy enterprises.
Chevron (NYSE: CVX) has announced the appointment of Laura Lane as vice president and Chief Corporate Affairs Officer, effective February 1. Lane will oversee the company's government affairs, communications, and social investment activities from Houston, replacing Al Williams, who is retiring in April after 34 years of service.
Lane joins Chevron from UPS, where she served as EVP & chief corporate affairs and sustainability officer. Her experience includes senior positions at Citigroup and Time Warner, as well as government roles at the US Trade Representative office and as a Foreign Service Officer with the US Department of State. She holds degrees from Georgetown University and Loyola University Chicago.
Chevron (NYSE: CVX) has announced the commencement of oil production from the Whale semi-submersible platform in the deepwater U.S. Gulf of Mexico. Chevron owns a 40% working interest in the project, with Shell Offshore Inc. holding the majority 60% stake as operator.
This milestone follows Chevron's achievements in the region, including the high-pressure Anchor project and enhanced water injection operations at Jack/St. Malo and Tahiti facilities. The Whale project is expected to reach a peak production of 100,000 gross barrels of oil equivalent per day, with up to 15 wells in its initial development phase.
Located approximately 200 miles southwest of Houston on Alaminos Canyon Block 773, at a water depth exceeding 8,600 feet, the facility employs energy-efficient gas turbines and compression systems. This simplified design aims to deliver lower emissions, reduced costs, and improved returns, supporting Chevron's goal of reaching 300,000 net barrels of oil equivalent per day in the U.S. Gulf of Mexico by 2026.
Chevron (NYSE: CVX) has announced its upcoming fourth quarter 2024 earnings conference call, scheduled for Friday, January 31, 2025, at 11:00 a.m. ET. The conference call will feature key executives including Mike Wirth, Chairman and CEO, Eimear Bonner, CFO, and Jake Spiering, General Manager of Investor Relations.
The event will be accessible via phone (dial-in: 866-409-1555, Conference ID: 8815912) and through a live webcast on the company's website. A replay will be available in the 'Investors' section of chevron.com. The company continues to focus on growing its oil and gas business while working to lower carbon intensity and expand into renewable fuels, carbon capture, hydrogen, and other emerging technologies.
Chevron (NYSE: CVX) has announced that Chairman and CEO Mike Wirth will participate in the Goldman Sachs Energy, CleanTech & Utilities Conference 2025 on Wednesday, January 8, 2025, at 9:00 AM ET. During the conference, Wirth will discuss the company's corporate strategy focused on delivering higher returns, lower carbon, and superior shareholder value.
As one of the world's leading integrated energy companies, Chevron emphasizes its commitment to providing affordable, reliable, and cleaner energy. The company's operations span crude oil and natural gas production, manufacturing of transportation fuels, lubricants, petrochemicals, and additives. Chevron's strategic objectives include expanding its oil and gas business while reducing operational carbon intensity and developing lower carbon businesses in areas such as renewable fuels, carbon capture, offsets, hydrogen, and emerging technologies.
Synchrony (NYSE: SYF) has announced the extension of its partnership with Chevron U.S.A. for the Techron Advantage Credit Card program. This renewal coincides with the 100th anniversary of Chevron's first consumer credit card, introduced in 1924. The partnership, spanning 17 years, combines Synchrony's consumer financing expertise with Chevron's innovation-focused approach.
The Techron Advantage Credit Card program features digital application options, access to the Synchrony Car Care™ network with over a million locations, 6-month promotional financing on purchases of $199+, and fuel credits of three cents per gallon, with Techron Advantage Visa® cardholders eligible for up to additional 10 cents per gallon off. The program will see a new value proposition rollout in 2025 to complement Chevron Texaco Rewards program.
Chevron has completed a retrofit of its Pasadena Refinery in Texas, increasing its processing capacity of lighter crudes by nearly 15% to 125,000 barrels per day. The Light Tight Oil (LTO) Project enhances facility reliability and safety while expanding product flexibility. The refinery will now produce jet fuel and export gas oil.
The upgrade allows Chevron to process more equity crude from the Permian Basin and supply more products to U.S. Gulf Coast customers. The project, which began planning in 2019 and construction in 2020, logged over 4 million work hours. The phased start-up is expected to continue through Q1 2025 to ensure proper operation and product specifications.
Chevron has announced its 2025 capital expenditure budget, setting an organic capex range of $14.5-15.5 billion for consolidated subsidiaries and $1.7-2.0 billion for affiliate capex, representing a $2 billion year-over-year reduction. Upstream spending is expected to be about $13 billion, with two-thirds allocated to U.S. portfolio development. Permian Basin spend will be reduced to $4.5-5.0 billion, prioritizing free cash flow over production growth.
The company expects to recognize a restructuring charge of $0.7-0.9 billion after-tax in Q4 2024, related to achieving $2-3 billion in structural cost reductions by end of 2026. Additional non-cash, after-tax charges of $0.4-0.6 billion are anticipated for impairments, asset sales, and other obligations.
Chevron (CVX) reported Q3 2024 earnings of $4.5 billion ($2.48 per share), down from $6.5 billion ($3.48 per share) in Q3 2023. Worldwide net oil-equivalent production increased 7% year-over-year, with U.S. and Permian Basin production setting quarterly records. The company returned a record $7.7 billion to shareholders, including $4.7 billion in share repurchases and $2.9 billion in dividends. Chevron started key projects in the U.S. Gulf of Mexico and announced a $6.5 billion sale of Canadian assets. The company is targeting $2-3 billion in structural cost reductions by 2026.
Chevron U.S.A. Inc. is partnering with Houston Texans Legends Community and Kids' Meals Houston for a record-breaking volunteerism event on October 17, 2024. As part of Chevron's H-Town Blitz program, volunteers aim to pack 18,000 brown bag lunches for distribution to children across the Greater Houston Area. The event will take place at Chevron's Downtown Offices in Houston.
Key highlights include:
- Chevron will present an $18,000 donation to Kids' Meals Houston
- 10-12 former Houston Texans players will participate
- The event marks Kids' Meals' 18th year of providing free, healthy meals to hungry children
- Chevron's Chief Diversity and Inclusion Officer, Josetta Jones, will be present
The initiative aims to support Kids' Meals' mission to end childhood hunger in Houston.
Chevron U.S.A. Inc. is partnering with Houston Texans Legends Community and Kids' Meals Houston for a volunteerism event on October 17, 2024. The initiative, part of Chevron's H-Town Blitz program, aims to set a new daily record by packing 18,000 brown bag lunches for distribution to children across the Greater Houston Area. Chevron will also present a $18,000 donation to Kids' Meals Houston.
The event will take place at Chevron's Downtown Offices in Houston, featuring Josetta Jones, Chevron's Chief Diversity and Inclusion Officer, Beth Harp, CEO of Kids' Meals, former Houston Texans players, and Chevron employee volunteers. The day marks the 18th anniversary of Kids' Meals' mission to end childhood hunger by providing free, healthy meals to children in need.
