Page 2 - Chevron
Chevron Corporation tops profit estimates, joins share buyback stampede
The company cut its annual capital spending forecast to about $13 billion, now below what it had spent last year.
 "Chevron Corporation tops profit estimates, joins share buyback stampede")
Saudi local office must for foreign firms to get state contracts from 2024
The government has told foreign companies that, from 2024, they can only secure state contracts if they have local offices
 "Saudi local office must for foreign firms to get state contracts from 2024")
Iraq's SOMO awards fuel oil supply contracts to Chevron, Reliance
Iraqi state-owned marketer SOMO has finalised a term contract to supply 750,000 tonnes of straight-run fuel oil (SRFO) per month from April to September, three fuel oil trade sources said
 "Iraq's SOMO awards fuel oil supply contracts to Chevron, Reliance")
Chevron to slow carbon emissions, raise oil output with modest spending
Chevron outlined a plan to expand oil and gas production through 2025, but without spending significantly more, and pledged to limit the pace of growth of its carbon emissions
Chevron to buy out Noble Midstream Partners in $1.32-billion deal
The final value under the new deal, however, will depend on the price Chevron's shares are trading at when the deal closes, expected in the second quarter
Warren Buffett's Berkshire Hathaway reveals three new secret buys
The company cut its Apple stake, still holds $120 bn
 "Warren Buffett's Berkshire Hathaway reveals three new secret buys")
Exxon, Chevron CEOs discussed merger in early 2020, talks no longer active
The CEOs of ExxonMobil Corp and Chevron Corp held preliminary talks in early 2020 to explore combining the two largest US oil producers in what would have been the biggest merger of all time
 "Exxon, Chevron CEOs discussed merger in early 2020, talks no longer active")
How oil majors shift billions in profits to island tax havens
If the oil-and-gas major had booked the profits through its headquarters in the Netherlands, it could have faced a tax bill of about $700 million based on the Dutch corporate tax rate of 25%
 "How oil majors shift billions in profits to island tax havens")
Chevron cuts spending plans again, sets 2021 budget of $14 billion
The company said it now expects its total capital and exploratory budget through 2025 to be between $14 billion and $16 billion, down from an earlier forecast of between $19 billion and $22 billion.
Big oil stares at a long winter ahead as global fuel demand stays muted
With U.S. Covid-19 cases hitting a record this week and new lockdowns looming across Europe, the virus and its impact on petroleum demand show no sign of abating
 "Big oil stares at a long winter ahead as global fuel demand stays muted")
Chevron to lay off about 25% of Noble Energy employees after merger
The job cuts come after the company promised to lower its operating expenses by $1 billion this year in the face of sharply lower energy demand
 "Chevron to lay off about 25% of Noble Energy employees after merger")
Chevron's deal with Noble Energy helps top Exxon Mobil m-cap for first time
Chevron's market value leapfrogged that of Exxon Mobil for the first time during a week in which it closed a $4.1 billion, all-stock deal for Noble Energy, a smaller oil and gas producer
Noble Energy shareholders approve $4.1 billion sale to Chevron Corp
The all-stock deal values Noble Energy at around $4.1 billion, excluding $8 billion in debt
A $91 billion asset manager dumps Exxon Mobile, Chevron over climate policy
The move by the Oslo-listed company, which has about $91 billion under management, is another illustration of how investors are adjusting to the risks of climate change
 "A $91 billion asset manager dumps Exxon Mobile, Chevron over climate policy")
Chevron Corp posts $8.3 billion quarterly loss on writedowns, job cuts
The loss includes $1 billion to cover severance pay for up to 15% of its 45,000-person workforce
Chevron to buy Noble Energy for nearly $5 billion in rare oil-bust deal
The deal will grow Chevron's shale presence in both the Permian Basin and the Denver-Julesburg Basin in Colorado.
Oil major Chevron to buy Noble Energy in $5 billion all-stock deal
The offer values Noble at $10.38 a share or 0.1191 Chevron share, a 7.5% premium to Noble's Friday close. The deal would value Noble at roughly $13 billion, including debt
Covid-19 crisis: BP plans to slash 10,000 jobs as debt up by $6 bn in Q1
European competitor Royal Dutch Shell Plc is said to be offering voluntary redundancies in a bid to become leaner, and US rivals Chevron Corp. and Marathon Oil Corp. are among others laying off staff
 "Covid-19 crisis: BP plans to slash 10,000 jobs as debt up by $6 bn in Q1")
Chevron Corp sees up to 15% reduction in positions amid Covid-19 crisis
Most of the reductions will take place this year, according to an internal memo said.
Chevron CEO planning major cost-cutting overhaul of production teams
Known for cost cutting at refining and chemical operations earlier in his career, Wirth's overhaul will apply those skills to Chevron's upstream operations
