Tag: Chevron
Chevron to develop Duvernay, calls it one of most prospective plays in North America
“Duvernay formation one of most prospective liquids-rich shale plays in North America” Chevron Canada Limited announced it’s moving into development on a portion of its leaseholdings in the Kaybob Duvernay area of west-central Alberta, according to a press release. The decision follows a successful three-year appraisal program by Chevron. It’s anticipated the initial development program will comprise […]
Chevron, Microsoft partner for digital transformation from reservoir to retail gas pump
Volumes, velocity of real time data from reservoir through refineries to retail pump grows at dramatic pace every year Chevron Corporation announced a seven-year partnership with Microsoft Corp. establishing the company as Chevron’s primary cloud provider, accelerating the application of advanced technologies including analytics and the Internet of Things (IoT) to drive performance and improve efficiencies, according to a […]
Chevron exec favors Paris accord, but not carbon tax
Carbon tax would boost costs: John Watson, Chevron CEO One day after the Washington Post reported the Trump administration is considering imposing a carbon tax, Chevron CEO John Watson told Reuters he would not support such a move. “A carbon tax will have the effect of adding cost on the people who can least afford […]
Chevron shifts to Permian Basin shale, boosts spending by 67 per cent
Chevron owns 2 million acres in Permian Basin Chevron Corp is shifting its focus from multi-billion dollar mega projects to the Permian Basin, hoping to weather low oil prices by quickly developing its vast shale holdings in Texas and New Mexico. In an interview with Reuters, Chevron CEO John Watson said he wants to put the shale […]
Sinopec buys 75 per cent stake in Chevron South African, Botswana assets
Sinopec purchase valued at almost $1 billion Chinese oil and gas company Sinopec announced it has purchased a 75 per cent stake in Chevron’s South African assets and a subsidiary in Botswana for almost $1 billion. This is the first major refinery Sinopec has secured in Africa. The sale to Asia’s largest oil refiner includes […]
Canadian court rejects Ecuadorian judgment against Chevron
Ecuadorian court judgment being questioned in other jurisdictions as well A Canadian court has ruled that the Ecuadorian judgment against Chevron Corporation cannot be enforced against Chevron Canada Limited, an indirect subsidiary, according to a Chevron press release. The court found that Chevron Canada Limited is a separate entity from Chevron Corporation, not a party to […]
Indonesia, Philippine groups acquire Chevron geothermal assets for $3 billion
Chevron geothermal assets sold as company cuts spending, jobs to handle weak oil prices By Enrico Dela Cruz MANILA, Dec 23 (Reuters) – Philippine property to banking conglomerate Ayala Corp said on Friday two groups of companies in which its energy unit has stakes will acquire Chevron geothermal assets in Indonesia and the Philippines, earlier valued […]
Chevron Q3 profit drops on weak oil price, but beats forecasts
$1.28 billion Chevron Q3 net income reported HOUSTON, Oct 28 (Reuters) – Chevron Corp reported a drop in quarterly profit on Friday that still beat expectations as cost cuts in the company’s U.S. oil production division helped mitigate some of the impact of low crude prices. The company posted a third-quarter net income of $1.28 billion, […]
Niger Delta Avengers say attacked Nigeria’s Chevron Escravos pipeline
Niger Delta Avengers warned companies to not repair damaged infrastructure By Tife Owolabi YENAGOA, Nigeria, Oct 25 (Reuters) – Nigerian militant group the Niger Delta Avengers said it attacked an oil pipeline in Nigeria’s restive southern energy hub on Tuesday and warned international oil companies (IOCs) not to carry out repairs on damaged energy infrastructure. […]
First bid round on Chevron’s Burnaby refinery
Burnaby refinery can process 52,000 barrels of oil per day By Jessica Resnick-Ault NEW YORK, Oct 18 (Reuters) – Chevron Corp completed an initial round of bidding on its Burnaby refinery late last week, three people familiar with the process said on Tuesday. The refinery, located east of Vancouver, can process 52,000 barrels of oil […]
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