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Chevron Corp

Chevron profit drops on weaker refining margins, storm hit
Business & Finance

Chevron profit drops on weaker refining margins, storm hit

  • Chevron, the second-largest US oil producer, reported a profit of $1.72 billion, or 90 cents per share, compared with $2.45 billion, or $1.31 per share, a year earlier. Year-ago results included about $680 million in asset sales and favorable tax items.
  • Net profit was $1.4 billion, or 72 cents a share, down from $3.6 billion, or $1.93 cents a share, a year earlier.
Published 30 Apr, 2021 06:48pm
Oil companies defeat New York City appeal over global warming
World

Oil companies defeat New York City appeal over global warming

  • The 2nd US Circuit Court of Appeals in Manhattan ruled in favor of BP Plc, Chevron Corp, ConocoPhillips , Exxon Mobil Corp and Royal Dutch Shell Plc , rejecting the city's efforts to sue under state law for trespass and creating a nuisance.
Published 01 Apr, 2021 07:28pm
Chevron sticks to lower spending in higher investor returns pitch
Business & Finance

Chevron sticks to lower spending in higher investor returns pitch

  • Falling energy demand due to pandemic lockdowns sent the industry into a tailspin in 2020 and led Chevron to a $5.54 billion annual loss, its first since 2016.
  • Chevron's 2020 output was around 2.98 million barrels of oil and gas per day, and an investor presentation showed the company increasing output through 2025 though no numbers were given.
Updated 09 Mar, 2021 09:33pm
Chevron to buy out Noble Midstream in all-stock $1.32bn deal
Business & Finance

Chevron to buy out Noble Midstream in all-stock $1.32bn deal

  • Noble Midstream's unitholders will get 0.1393 Chevron shares for each unit held under the new agreement, Chevron said.
  • Chevron's shares were up 2.4% at $107.39 in pre-market trading on Friday, boosting the deal value to about $14.96 per Noble Midstream share. The pipeline operator's units were down marginally at $15.
Published 05 Mar, 2021 06:31pm
Futures tick lower as energy stocks slip
Markets

Futures tick lower as energy stocks slip

  • Futures down: Dow 0.26%, S&P 0.29%, Nasdaq 0.22%.
  • Chevron Corp, Occidental Petroleum Corp and Exxon Mobil Corp dipped between 0.9% and 1.2% in premarket trading as oil prices retreated on demand fears.
Published 12 Feb, 2021 05:51pm
Chevron offers to take pipeline operator Noble Midstream private
Business & Finance

Chevron offers to take pipeline operator Noble Midstream private

  • Chevron, the second-largest US oil producer, in October closed a $4.1 billion all-stock purchase of oil and gas producer Noble Energy, gaining a majority stake in the pipeline business.
  • On Friday, the company said it has offered to buy the rest of Noble Midstream at $12.47 per common unit, the same price Noble's shares ended on Thursday.
Published 05 Feb, 2021 06:36pm
Chevron falls to fourth-quarter loss on weak refining, charges
Technology

Chevron falls to fourth-quarter loss on weak refining, charges

  • Oil companies are expected to benefit from a bounce-back in oil and gas prices after a one-two punch of falling demand and prices put the industry in a tailspin last year.
  • While we're optimistic about vaccines and getting on a pathway to recovery, we're not there right now,
Published 29 Jan, 2021 07:49pm