Chevron Financial News

ONGC is seeking US exemption to get operational control of its fields in sanctions-hit Venezuela, a top executive said, adding that the Latin American country has already agreed to it in principle. ONGC has stakes in two Venezuelan oil fields — Sancristobal and Carabobo-1 — but has been unable to receive its share of income for years, first due to enduring financial troubles in the Latin American country and then the imposition of the US sanctions that blocked oil trade and payment channels. ONGC hasn’t been able to repatriate about $500 million of dividends from Venezuela. In both fields, the Venezuelan state firm PDVSA has the majority stake and controls the operation and finances of the fields even though ONGC is technically the joint operator.

More sunshine could be in the forecast for solar power companies like SolarEdge Technologies and Sunrun, whose stock prices have been dimmed by high interest rates

Warren Buffett has offered more details about all the stocks he has been selling lately, including confirming that he sold more than 389 million Apple shares during the second quarter

A startup developing a high-tech battery that is seen as a potential game-changer in the booming industry plans to invest $1.4 billion to build its first big plant in North Carolina, according to people familiar with the matter. Natron Energy is one of the few U.S. companies focusing on sodium, an abundant mineral that can produce batteries that are cheaper and safer than the lithium-based batteries that power electric vehicles.

Chevron Chairman & CEO Mike Wirth sits down with FOX Business Maria Bartiromo to discuss Americas energy agenda, the demand for data centers and the regulatory environment.

Shares in the American tech giant were down 8.2% in pre-market trading at the time of reporting, according to data from MarketWatch. US equities suffer worst day in two years as Nasdaq loses $1trn Despite the significant selloff in shares, Apple remains Berkshire Hathaway's largest investment, with Buffett's firm still holding about 400 million shares worth $84.2bn. Around 72% of Berkshire Hathaway's aggregate fair value was concentrated in five companies including Apple, Bank of America ($41.1bn), American Express ($35.1bn), the Coca-Cola Company ($25.5bn) and Chevron ($18.6bn). ...

Exxon Mobil’s second-quarter profit rose and was its second-highest for the period of the past decade as it achieved record quarterly production from its Permian and Guyana assets

A lawsuit challenging a Biden administration rule permitting socially conscious investing by employee retirement plans will test the courts’ approach to federal regulations following a pivotal Supreme Court decision.

The Supreme Court has opened the door to new, broad challenges to regulations long after they take effect, the third blow in a week to federal agencies

With the Supreme Court ruling late last month against the government-favored “Chevron Deference,” one crypto industry leader being targeted by the agency is already using the decision to its advantage.

The Supreme Court has upended a 40-year-old decision that made it easier for the federal government to regulate the environment, public health, workplace safety and consumer protections

Executive branch agencies will likely have more difficulty regulating the environment, public health, workplace safety and other issues under a far-reaching decision Friday by the Supreme Court

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Saudi Aramco’s generous dividends can only go so far in making up for an overpriced initial public offering. The Saudi Arabian national oil company will sell shares worth up to $12 billion in an offering this week. The Saudi government, which will still own more than 80% of Aramco at the end of the sale, will use the proceeds to fund the country’s cash-hungry Vision 2030 initiatives.

ConocoPhillips agreed to acquire Marathon Oil Corp in an all-stock deal valuing the company at about $17 billion, extending a major buying spree among the largest players in the oil and gas industry in the United States. The move expands ConocoPhillips' footprint in domestic shale fields from Texas to North Dakota and hands the company reserves as far afield as Equatorial Guinea. It adds to a wave of recent megadeals as producers seek new drilling sites on a bet that oil and gas demand will remain robust for years to come.

Days after striking a $53 billion purchase of Hess, Chevron Chief Executive Mike Wirth called his counterpart at Exxon Mobil to discuss their future partnership in a mega-oil project Chevron would inherit through the deal. Darren Woods told Wirth he looked forward to collaboration in Guyana, where Exxon and Hess own portions of a buried treasure of 11 billion barrels of oil and gas. Chevron and Exxon have a long-established partnership in projects around the world, one they could expand off the coast of the rainforest-covered South American country, Woods indicated in the October phone call.

Oil companies including Chevron Corp., Canadian Natural Resources Ltd. and Suncor Energy Inc. are pressing the operators of the expanded Trans Mountain pipeline to change certain key specifications to improve the value of the crude the conduit is carrying.

Cyprus has given Chevron another six months to come up with a revised plan to develop a sizeable natural gas deposit off the island nation’s southern coastline after an earlier plan was deemed lacking in a specific timetable

THUNDER HORSE OIL PLATFORM—This hulking production base 150 miles offshore from New Orleans has long embodied BP’s outsize ambitions in the Gulf of Mexico and also reflected its recurring setbacks. Stretching roughly three football fields and pumping crude from more than a mile below the water’s surface, Thunder Horse in 2005 was found listing so precariously that it appeared in danger of sinking. Once it got roaring in 2008, three years behind schedule, it helped BP cement its position as one of the Gulf’s leading producers, capable of some of the industry’s biggest technical marvels.

Exxon Mobil’s profit declined in its first quarter as natural gas prices fell and industry refining margins dropped

A large suburban Philadelphia county has joined dozens of other local governments around the country in suing the oil industry, asserting that major oil producers systematically deceived the public about their role in accelerating global warming