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Tag Archives: chevron

Stocks end mixed as crude oil dives and safety stocks fall

NEW YORK (AP) — U.S. stocks swerved between gains and losses Thursday and wound up with a muddled finish as the price of oil plunged. Investors also sold utility and phone company stocks. They have favored those companies all year, especially in the wake of Britain’s vote to leave the European Union last month. Stocks started higher, building on gains ...

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Chevron, Exxon and others to spend $36.8B in Kazakhstan

Eagle Ford news, rig count, oil

NEW YORK (AP) — Chevron, Exxon Mobil and its other partners say they will spend $36.8 billion to develop more oil in Kazakhstan. The project is expected to increase production to about 1 million barrels of oil equivalent per day in 2022. Chevron, Exxon Mobil and its partners are forming a venture called Tengizchevroil. Chevron owns 50 percent of Tengizchevroil. ...

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Militants claim blast of another Nigeria oil pipeline

WARRI, Nigeria (AP) — Nigerian militants say they have blown up another crude pipeline owned by Italian oil company Agip. The Niger Delta Avengers announced the early-morning blast in Bayelsa state in a tweet Friday. The latest blast comes a few days after the militants rejected the government’s offer of peace talks. Nigeria’s government had ordered the military to halt ...

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Exxon, Chevron shareholders reject climate resolutions

Exxon annual meeting

DALLAS (AP) — Shareholders at Exxon Mobil and Chevron rejected resolutions backed by environmentalists that would have pushed the companies to take stronger stands in favor of limiting climate change. Environmentalists took solace, however, that some of their ideas gained considerable support. At Chevron Corp., a resolution asking for an annual report each year on how climate-change policies will affect ...

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Nigerian Chevron facility bombed, ExxonMobil cuts exports

LAGOS, Nigeria (AP) — An explosion closed a second Chevron facility in Nigeria, witnesses said Friday, as renewed attacks by militants further cut production in Africa’s biggest petroleum producer. Adding to Nigeria’s economic woes, Exxon Mobil on Friday said some production of Qua Iboe crude — the West African nation’s largest crude grade — has halted because a drilling rig ...

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Top Eagle Ford news stories: April 29 – May 6

rig count, oil natural gas

Here’s a recap on the top Eagle Ford news stories from the past week. Energy producers continue to struggle with depressed oil prices and two oil majors abandoned plans for a merger as opposition from regulators mounted. 5. Exxon sees smallest profit in 16 years, Chevron posts loss DALLAS (AP) — Motorists are saving billions on cheaper gasoline, but the ...

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Chevron reports 1Q loss on pressure from low oil prices

Chevron reports 1Q loss on pressure from low oil prices

NEW YORK (AP) — Chevron Corp. on Friday reported a first-quarter loss as slumping oil prices continued to drag down revenue. The oil company lost $725 million, or 39 cents per share, compared with a $2.57 billion, or $1.37 per share, profit a year prior. The results did not meet Wall Street expectations, but Chevron does not adjust its reported ...

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Top Marcellus news stories: April 8-15

Top Marcellus news stories: April 8-15

Review the top Marcellus news stories from the past week. During a swing through New York, presidential candidate Bernie Sanders said he wants to eliminate fracking, and tragedy struck the oil industry as two workers were killed while repairing a Texas pipeline. 5.) Chevron announces more Houston job cuts Chevron plans to cut 655 Houston jobs as part of a ...

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Top Eagle Ford news stories: April 1-8

Take a look back at the top Eagle Ford news stories of the week. Depressed oil prices continue to impact economies at home and abroad. Houston lost more jobs as it weathers the oil bust, and an OPEC official said a deal to freeze production will be reached soon. 5. Once wedded to oil, Houston economy carries on despite bust HOUSTON (AP) ...

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Chevron announces more Houston job cuts

Chevron announces more Houston job cuts

Chevron plans to cut 655 Houston jobs as part of a payroll decrease across its upstream business. The California-based company confirmed the layoffs Thursday. Chevron previously stated it would cut its workforce by 4,000 this year. In 2015, The oil major reduced its workforce by 3,000. The total estimated cuts made up about 10 percent of the company’s workforce at ...

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