US1667641005 - Common Stock
Chevron Corp. has signed a 20-year deal to buy liquefied natural gas exports from Energy Transfer LP’s proposed Lake Charles terminal in Louisiana, according to a statement from Energy Transfer released Thursday.
Investors shrugged off the meltdown on Thursday. A few Dow laggards rebounded.
The deal will result in Woodside exiting the huge Wheatstone LNG venture while Chevron will end its 40-year involvement in the North West Shelf project.
Under the terms of the deal, Woodside will acquire Chevron's stake in the North West Shelf (NWS) Project, the NWS Oil Project and the Angel Carbon Capture and Storage Project, all located in Western Australia. Woodside said it will transfer all its interest in the Wheatstone and Julimar-Brunello Projects to Chevron.
The gas will be supplied from Chevron's 530 terajoules-a-day Gorgon and Wheatstone facilities, and North West Shelf Venture in the state of Western Australia, Chevron Australia said in a statement. Separately, Alcoa said the gas would be used to power its alumina refineries in Western Australia. Alcoa had previously secured gas supply deals with Chevron, Warrego Energy and Exxon Mobil in 2020 to power its Kwinana, Pinjarra and Wagerup alumina refineries in the state from 2024 onwards.
The Oracle of Omaha is set to enter the new year with close to $200 billion of Berkshire Hathaway's portfolio invested in five brand-name stocks.
If there is one thing that investors can expect when putting money to work in the energy sector, it is volatility. This is why investors looking at the sector should probably consider sticking to the biggest and best companies, which generally means integrated energy giants like Chevron (NYSE: CVX) and TotalEnergies (NYSE: TTE). There are companies with longer streaks of annual dividend increases under their belts, but you have to give credit where it's due.
Exxon and Chevron see natural gas and carbon capture technology playing a key role in meeting AI's power needs.
Chevron spent billions trying to destroy him after he won the largest pollution case in history. It’s time for Biden to end this nightmare
U.S. oil major Chevron Corp is considering ways to supply lower carbon power for data center operators, Jeff Gustavson, president of Chevron New Energies said in an interview at the Reuters NEXT conference in New York. Gustavson's comments follow a similar announcement by Exxon Mobil on Wednesday, which said it is working to help advance low-carbon electricity by adding carbon-capture to natural gas-fired power plants supplying data centers. "We are working on this as well," Gustavson said, adding that Chevron's experience supplying natural gas around the world, and operating natural gas fired power equipment, positions the company well to meet booming electricity demand from data centers.
Secretary of State Antony Blinken left open the possibility of revoking Chevron Corp.’s license to produce oil in Venezuela, as the Biden administration looks to ramp up pressure on President Nicolás Maduro before leaving office.
Exxon Mobil want to "participate" in Hess Corp.'s sale of its Guyana oil production assets, and extract value from the work it has put into developing the country's offshore fields, two of its top executives said on Wednesday. A three-person panel in May is to decide whether Hess's deal to sell itself to Chevron can go ahead on its original terms. A challenge by Exxon and CNOOC Ltd has stalled the second-largest deal in a recent wave of oil megamergers.
Recently, Zacks.com users have been paying close attention to Chevron (CVX). This makes it worthwhile to examine what the stock has in store.
CVX expands its Pasadena refinery, increasing processing capacity by 15%, enhancing product flexibility and boosting domestic supply.
Chevron’s wholly-owned subsidiary Chevron U.S.A., Inc. completed a retrofit of its refinery in Pasadena, Texas. This is expected to increase product flexibility and expand the processing capacity of lighter crudes by nearly 15% to 125,000 barrels per day.
ExxonMobil and Chevron are redefining the competitive landscape with game-changing acquisitions that solidify their dominance in the energy sector.
Sembcorp's agreement with CVX should allow the former to expand its LNG portfolio, thereby increasing its supply of piped natural gas and liquefied sources globally.
Here are Tuesday's biggest calls on Wall Street.
CVX and SHEL to buy stakes in Argentina's Vaca Muerta pipeline project to boost exports from its lucrative shale fields.