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) reported a fourth-quarter loss of $665 million ($(0.33) per share), a significant improvement from a $6.6 billion loss in Q4 2019. The full-year 2020 loss totaled $5.5 billion ($(2.96) per share), influenced by acquisition costs from Noble Energy and foreign currency impacts of $645 million. Despite lower revenues of $25 billion in Q4 2020 vs. $35 billion a year prior, Chevron maintained a strong balance sheet, completed the Noble Energy acquisition, and increased its dividend for the 33rd consecutive year.
The Board of Directors of Chevron Corporation declared a quarterly dividend of $1.29 per share, set for payment on March 10, 2021. This dividend will benefit all common stockholders recorded on the transfer records as of February 17, 2021. This announcement reflects Chevron's commitment to returning value to its shareholders.
Chevron Corporation (NYSE: CVX) has made a Series C investment in Blue Planet Systems Corporation, a startup that specializes in carbonate aggregates and carbon capture technology. This investment highlights Chevron's commitment to advancing carbon capture and utilization technologies as part of its lower-carbon solutions strategy. Chevron and Blue Planet plan to explore collaboration opportunities for pilot projects and commercial developments that leverage Blue Planet's innovative technology, which captures CO2 from flue gas without requiring purification.
Chevron Corporation (NYSE: CVX) is set to hold its quarterly earnings conference call on January 29, 2021, at 11:00 a.m. ET (8:00 a.m. PT). Key speakers include Mike Wirth, CEO, and Pierre Breber, CFO. Participants can dial in using the provided numbers or access the live webcast at www.chevron.com. This event is significant as it will provide insights into Chevron’s financial performance and future outlook.
Chemron Corporation (NYSE:CVX) and Chevron U.S.A. Inc. announced the early participation results of their exchange offers for Noble Energy's Old Notes. As of December 16, 2020, significant principal amounts of various series of Old Notes have been validly tendered. The offers include a total consideration of new CUSA Notes, with an early participation premium of $30 per $1,000 principal amount. The expiration date for participation is extended to January 4, 2021. The offerings seek to amend relevant indentures and provide holders with new, unsecured, unsubordinated debt guaranteed by Chevron.
Chevron Corporation announced a $14 billion organic capital and exploratory spending program for 2021, reducing long-term guidance to $14 to $16 billion annually through 2025. The company aims to enhance long-term value and returns, dedicating over $300 million in 2021 to advance energy transition. The revised guidance is notably lower than the previous $19 to $22 billion. Significant allocations include $5 billion for U.S. upstream and $6.5 billion for international upstream projects. Chevron emphasizes its commitment to maintaining dividends amidst market challenges.
Chevron Corporation (CVX) and Chevron U.S.A. Inc. have initiated exchange offers for ten series of notes from Noble Energy, Inc. The exchange involves validly tendered Old Notes for new CUSA Notes guaranteed by Chevron. A registration statement was filed with the SEC on December 3, 2020, and the exchange offers are set to expire on January 4, 2021. Early participants may receive an extra $30 per $1,000 principal amount. The exchange is aimed at altering restrictive covenants in existing Noble Indentures. No accrued interest will be paid on Old Notes during this exchange.
Chevron Corporation (NYSE: CVX) has announced the appointment of Al Williams as vice president of corporate affairs, effective March 1, 2021, and Paul Antebi as vice president and general tax counsel, effective February 1, 2021. Williams succeeds Dale Walsh, who retires after 38 years, bringing extensive international experience. Antebi takes over from C.N. Macfarlane, who served for 36 years. These leadership changes occur amid increasing regulatory and social complexities, enhancing Chevron's strategic positioning in the energy sector.
Chevron Corporation (NYSE: CVX) has elected Marillyn A. Hewson to its board of directors, effective January 1, 2021. Hewson previously served as the chairman, president, and CEO of Lockheed Martin, bringing over 35 years of experience in global business and international commerce. She will also join the Audit Committee of the Board. Chevron's CEO, Michael Wirth, emphasized that Hewson's extensive expertise will enhance the company’s operations and add valuable perspectives. Chevron continues to be a leader in the integrated energy sector, engaging in various activities ranging from oil exploration to technology development.
Chevron Corporation (NYSE: CVX) reported a third-quarter 2020 loss of $207 million ($(0.12) per share), down from a profit of $2.6 billion in Q3 2019. The decline was driven by lower commodity prices and decreased operational revenue of $24 billion, compared to $35 billion a year earlier. Adjusted earnings were $201 million ($0.11 per share), significantly lower compared to $2.9 billion in 2019. The company continues to focus on capital discipline and cost management, reducing capital expenditures by 48% and operating expenses by 12% year-over-year. Production decreased 7% to 2.83 million barrels per day.
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?
