NYSE:CVX - New York Stock Exchange, Inc. - US1667641005 - Common Stock - Currency: USD
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U.S. refiners have seen earnings slide from record levels hit in 2022, when a recovery in demand following the COVID-19 pandemic and Russia's invasion of Ukraine had driven up fuel prices. Bigger rivals Valero Energy and Marathon Petroleum as well as energy majors such as Exxon Mobil and Chevron took hits to their earnings in the fourth quarter due to weaker refining margins. HF Sinclair's refinery adjusted margin was $6.86 per produced barrel in the fourth quarter, compared with $13.88 a year earlier.
Namibia is taking a more cautious view on its long-term oil prospects after the latest exploration wells failed to add to a string of discoveries that started about three years ago.
Kazakhstan is seeking discussions with Ukraine after an attack by its drones on Russian territory affected flows through its important crude export conduit.
During an internal town hall meeting last week, roughly 40,000 Chevron employees were shown a video touting the oil giant's success in Colorado as the largest oil and gas producer in the state. Less than 30 minutes later, executives announced plans to cut up to 20% of the global workforce. Despite progress in safety and financial performance, Chevron had fallen behind its competitors, company leaders told employees during the internal meeting on February 12.
(Bloomberg) -- Chevron Corp.’s ability to continue exporting crude from Venezuela is under review, President Donald Trump said, signaling an openness to tighter restraints on the oil giant’s operations in the South American country.Most Read from BloombergWhy Barcelona Bought the Building That Symbolizes Its Housing CrisisPor qué Barcelona compró el edificio que simboliza su crisis inmobiliariaTrump Child Refugee Agency Shares Data With Immigration EnforcersA Filmmaker’s Surreal Journey Into His
Chevron Corp.’s ability to continue exporting crude from Venezuela is under review, President Donald Trump said, signaling an openness to tighter restraints on the oil giant’s operations in the South American country.
CVX-led consortium's updated development plan includes the construction of a floating production unit and the installation of subsea pipelines connecting to Egypt.
Brent crude oil prices paused in early trading on Tuesday after gaining in the previous session following a drone attack on an oil pipeline pumping station in Russia that reduced flows from Kazakhstan. Brent crude futures ticked down 7 cents, or 0.09%, to $75.15 a barrel by 0137 GMT. U.S. West Texas Intermediate (WTI) crude rose 47 cents to $71.21 a barrel.
Mentions: XOM
Elliott engaged Phillips 66 in November 2023, calling for a series of improvements. The activist has since grown its position and stepped up its efforts.
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Chevron is laying off approximately 20% of its workforce, while it won't be a smooth path, there’s more reason to be bullish than bearish on CVX stock
Chevron (CVX) said Wednesday it will reduce 15% to 20% of its workforce as part of a cost-cutting pl
(Bloomberg) -- Chevron Corp. plans to ratchet up oil exports from Venezuela to a seven-year high as a reset of the country’s relationship with the US eases concerns that trade restrictions will increase.Most Read from BloombergCan Portland Turn a Corner?Why American Mobility Ground to a HaltSpaceX Bid to Turn Texas Starbase Into City Is Set for Vote in MaySaudi Arabia’s Neom Signs $5 Billion Deal for AI Data CenterCutting Arena Subsidies Can Help Cover Tax Cuts, Think Tank SaysExports of synthet
Chevron Corp. plans to ratchet up oil exports from Venezuela to a seven-year high as a reset of the country’s relationship with the US eases concerns that trade restrictions will increase.
The company said the workforce reduction would begin in 2025 and be mostly complete before the end of 2026.
The cuts could affect as many as 9,000 employees.
Mentions: XOM
No 2 US oil firm aims for $3bn in cost cuts through 2026 and seeks to simplify business after production challenges
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