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) and the Angelicoussis Group have announced a Joint Study Agreement (JSA) to examine the use of tankers for ammonia transport, a potential lower carbon marine fuel. The initial study will assess the ammonia transportation market, safety, and vessel requirements for transferring ammonia between the U.S. Gulf Coast and Europe. This collaboration aims to enhance ammonia’s commercial viability as an export for various markets, including petrochemicals. Chevron is focusing on advancing lower carbon energy solutions, leveraging its marine expertise alongside the Angelicoussis Group's experience in seaborne transport. The study seeks to address technical and commercial challenges while aiming for a sustainable transition in the marine industry.
Chevron Corporation (NYSE: CVX) will host its quarterly earnings conference call on April 28, 2023, at 11:00 a.m. ET. The call will feature key executives, including Mike Wirth, CEO, and Pierre Breber, CFO. Investors can access the call by dialing 800-378-6902 and using conference ID 6069633. A live webcast will also be available on Chevron's website, with a replay following the event. Chevron emphasizes its commitment to providing affordable, reliable energy while transitioning to lower carbon technologies and maintaining its traditional business lines.
Civitas Resources, Inc. (NYSE: CIVI) has appointed Hodge Walker as the new Chief Operating Officer, effective April 5, 2023. Walker replaces Matt Owens, who has exited the company. Chris Doyle, President and CEO, expressed confidence in Walker's 25 years of industry experience to enhance operational excellence at Civitas. Walker previously held a key position at Chevron's Rockies Business Unit and has held various roles at Noble Energy and BP America. Civitas is recognized as Colorado's first carbon-neutral oil and gas producer, focusing on sustainable development and economic returns.
Bunge (NYSE: BG), Corteva (NYSE: CTVA), and Chevron (NYSE: CVX) announced a collaboration to introduce proprietary winter canola hybrids aimed at producing low-carbon plant-based oil. This initiative targets the renewable fuels market in the southern United States, creating a sustainable crop rotation for farmers while enhancing soil health. The plan includes a pilot program in the 2022-23 growing season to optimize management practices. Executives from the collaborating companies emphasized the importance of feedstock innovation for advancing a lower-carbon energy future and supporting agricultural productivity.
Chevron Corporation (NYSE: CVX) has announced the second retail event in its Chevron Exchange Q&A Series, featuring a virtual fireside chat with Jeff Gustavson, President of Chevron New Energies, scheduled for March 23, 2023. The event, moderated by Jeanine Wai, will begin at 11:00 a.m. ET and will address top-voted questions from verified retail shareholders about Chevron's strategy and financial performance. Shareholders can submit and upvote questions until 48 hours before the event at the provided link. A live webcast and replay will be accessible through Chevron's investor site.
Chevron (CVX) and JERA Co., Inc. have signed a Memorandum of Understanding (MOU) to collaborate on carbon capture and storage (CCS) projects in the United States and Australia. This partnership aims to enhance their existing LNG relationship and demonstrates a commitment to advancing lower carbon solutions. The collaboration follows a previous announcement in November 2022 regarding lower carbon fuel co-development. Chevron's Vice President emphasized the importance of long-term relationships for successful energy transition projects. JERA aims for net-zero CO2 emissions by 2050, aligning with Chevron's focus on reducing carbon intensity.
Bayou Bend CCS LLC announced a significant expansion of its carbon capture and sequestration project with the acquisition of nearly 100,000 acres in Chambers and Jefferson Counties, Texas. This expansion brings the total project area to approximately 140,000 acres, with a gross storage capacity exceeding one billion metric tons. Bayou Bend aims to provide carbon transportation and storage solutions for industrial emitters in the Houston Ship Channel region. Chevron (NYSE: CVX), Talos Energy (NYSE: TALO), and Carbonvert are key partners in this joint venture, with Chevron now serving as the operator.
Bayou Bend CCS LLC has announced the expansion of its carbon capture and sequestration project along the Texas Gulf Coast, acquiring nearly 100,000 acres in Chambers and Jefferson Counties. This increase, combined with 40,000 acres previously acquired offshore, brings the total to approximately 140,000 acres with a storage capacity exceeding one billion metric tons. The project, a joint venture between Chevron (50%), Talos Energy (25%), and Carbonvert (25%), aims to serve industrial emitters in the Houston Ship Channel and Beaumont/Port Arthur area. Chevron is now the operator of the project as of March 1, 2023.
Chevron Corporation (NYSE: CVX) announced at its annual investor meeting an increase in share buyback guidance to
Chevron Corporation (NYSE: CVX) has entered into an agreement with Sembcorp Marine Repairs & Upgrades Pte. Ltd. to enhance the carbon efficiency of its LNG fleet. This collaboration aims to install advanced technologies aboard Chevron vessels, including a reliquefication system and hull air lubrication, to reduce carbon emissions and improve operational efficiency. The initiative aligns with the International Maritime Organization's decarbonization targets. Expected completion of the upgrades is by mid-2025, bolstering Chevron’s commitment to lower carbon solutions in the maritime sector.
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