356 stories mentioning Chevron CorporationUpdated 2d ago
Chevron in focus as Moody's flagged windfall earnings for major oil producers from a Hormuz closure, while US-Iran peace news moved energy shares.
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R. Hewitt Pate, Chief Legal Officer, on August 18, 2026, sold 2,470 shares in Chevron (CVX) for $506,619. Following the Form 4 filing with the SEC, Pate has control over a total of 29,197 common shares of the company, with 8,719 shares held directly and 20,478 controlled indirectly.SEC Filing:https://www.sec.gov/Archives/edgar/data/93410/000009341026000179/xslF345X05/form4.xml
US liquefied petroleum gas exporters, including Chevron (CVX), are increasingly using ship-to-ship transfers to move cargoes to Asia as congestion and record-high Panama Canal transit fees disrupt trade, Bloomberg reported Thursday.Neopanamax vessels, typically used on the Gulf Coast-to-Asia route, reportedly face steep costs and longer waiting times, while narrower Panamax tankers have been less affected, traders said.Some cargoes are being transferred near Panama's Pacific coast after smaller vessels transit the canal, allowing larger ships to continue across the Pacific. The workaround comes as the Iran war boosts US-to-Asia energy flows, and El Nino lowers canal water levels. About 60% of US LPG exports have gone to Asia this year.Chevron declined to comment in response to' request, while the Panama Canal Authority did not immediately respond.(Market Chatter news is derived from conversations with market professionals globally. This information is believed to be from reliable sources but may include rumor and speculation. Accuracy is not guaranteed.)Price: $206.87, Change: $+1.11, Percent Change: +0.54%
Andrew Benjamin Walz, President, Downstream, Midstream and Chemicals, on August 17, 2026, sold 16,800 shares in Chevron (CVX) for $3,377,833. Following the Form 4 filing with the SEC, Walz has control over a total of 9,004 common shares of the company, with 14 shares held directly and 8,990 controlled indirectly.SEC Filing:https://www.sec.gov/Archives/edgar/data/93410/000009341026000175/xslF345X05/form4.xml
The US oil and gas rig count rose for a second consecutive week, led by increased drilling activity in the Permian Basin, UBS strategists said in a note on Wednesday, while government forecasts point to further growth in crude and gas production through 2027.UBS analysts said that active rig count in the Lower 48 rose by three to 619 on a four-week average basis. The total is now 13% above the level at the end of 2025, with oil-directed rigs up 24% over the same period while gas rigs have fallen 9%.The bank said that the Permian added one rig overall last week, with activity in the Delaware sub-basin increasing by two rigs and activity in the Midland declining by one rig.Outside the Permian, the Williston and Barnett each added one rig, while the Eagle Ford and Denver-Julesburg basins each lost one.On the gas side, the Haynesville added one rig, while Appalachia was unchanged.The latest rig data comes as the US Energy Information Administration's August Short-Term Energy Outlook points to improving fundamentals in the Permian, which is expected to remain a key driver of domestic production growth.Permian's active rig count increased by six rigs to 248 in Q2, marking the first quarter-over-quarter increase since Q2 2024, UBS said, citing EIA data.Wells drilled and completed both increased 5% from the previous quarter, while crude production rose 3% to 6.81 million barrels per day.The basin's oil output is projected to remain broadly flat in Q3 before rising to 6.88 million barrels per day in Q4, according to the EIA. Production is forecast to increase further in 2027, averaging 7.03 million b/d.Gas output in the Permian was unchanged from the previous quarter at 28.9 billion cubic feet per day, reflecting takeaway constraints that have contributed to significant curtailments.UBS said that new pipeline capacity is expected to ease those bottlenecks, with the EIA forecasting Permian gas production to average 31.55 Bcf/d in 2027, up 2.4 Bcf/d.Within UBS's coverage group and integrated oil companies, the number of active rigs rose by two last week to 279. Chevron (CVX) and Expand Energy (EXE) each added one rig.Exxon Mobil (XOM) remained the most active publicly traded operator, with 35 rigs, followed by Devon Energy with 33, ConocoPhillips (COP)with 30, and EOG Resources (EOG) and Occidental Petroleum (OXY) with 23 each.Price: $206.54, Change: $+2.58, Percent Change: +1.26%
Chevron (CVX) has an average rating of overweight and mean price target of $217.79, according to analysts polled by FactSet.Price: $206.98, Change: $+3.02, Percent Change: +1.48%
Energy stocks gained late Tuesday afternoon, with the NYSE Energy Sector Index rising 1.1% and the State Street Energy Select Sector SPDR ETF (XLE) adding 1.7%.The Philadelphia Oil Service Sector Index was falling 1%, and the Dow Jones US Utilities Index shed 0.3%.Front-month West Texas Intermediate crude oil rose 0.6% to $85.04 a barrel, and the global benchmark Brent crude contract added 0.2% to $91.06 a barrel. Henry Hub natural gas futures gained 3.4% to $2.78 per 1 million BTU.In corporate news, KKR (KKR) has offered to buy natural-gas and electricity distributor UGI (UGI) for $42.50 per share, or roughly $9 billion, The Wall Street Journal reported. UGI shares surged past 9%.Targa Resources (TRGP) shares jumped 7% in Tuesday trading, a day after the company secured 20-year, fee-based agreements with ExxonMobil (XOM).Equinor (EQNR) shares added 0.2% after it said Tuesday it signed an agreement with Chevron's (CVX) Harmattan Energy unit to acquire a 17.4% stake in Petroleum Exploration License 90 in the Orange Basin offshore Namibia. Chevron shares were rising 1.5%.Ecopetrol (EC) has completed the acquisition of a controlling 51% stake in Brava Energia for about $1.20 billion, boosting its presence in Brazil and diversifying its hydrocarbons portfolio, the company said. Ecopetrol shares rose 0.1%.
Energy stocks gained late Tuesday afternoon, with the NYSE Energy Sector Index rising 1.1% and the State Street Energy Select Sector SPDR ETF (XLE) adding 1.7%.The Philadelphia Oil Service Sector Index was falling 1%, and the Dow Jones US Utilities Index shed 0.3%.Front-month West Texas Intermediate crude oil rose 0.6% to $85.04 a barrel, and the global benchmark Brent crude contract added 0.2% to $91.06 a barrel. Henry Hub natural gas futures gained 3.4% to $2.78 per 1 million BTU.In corporate news, Equinor (EQNR) shares added 0.3% after it said Tuesday it signed an agreement with Chevron's (CVX) Harmattan Energy unit to acquire a 17.4% stake in Petroleum Exploration License 90 in the Orange Basin offshore Namibia. Chevron shares were rising 1.4%.
Equinor (EQNR) has agreed to acquire a 17.4% stake in Petroleum Exploration License 90 from Harmattan Energy, a Chevron (CVX) subsidiary in Namibia, gaining access to an offshore drill-ready prospect, the company said Tuesday.The transaction marks Equinor's entry into Namibia and covers Block 2813B in the Orange Basin, offshore Namibia, where Chevron operates PEL 90.Before the deal, Harmattan Energy held a 52.5% interest in the license, while QatarEnergy owned 27.5%, Trago Energy 10% and state-owned oil company National Petroleum Corporation of Namibia 10%.The transaction remains subject to regulatory approvals and completion procedures, Equinor said."Namibia is a promising basin that adds attractive option value to our portfolio and complements our broader Atlantic Margin position," said Philippe Mathieu, executive vice president for exploration and production international at Equinor.Price: $41.91, Change: $+0.09, Percent Change: +0.22%
Equinor (EQNR) said Tuesday it signed an agreement with Chevron's (CVX) Harmattan Energy unit to acquire a 17.4% stake in Petroleum Exploration License 90 in the Orange Basin offshore Namibia.The license, operated by Chevron, provides access to a drill-ready prospect planned for testing in 2026, Equinor said. Other partners in the license are QatarEnergy, Trago Energy and NAMCOR, according to a statement.Closing of the deal is subject to regulatory approvals, the company said.Price: $41.93, Change: $+0.11, Percent Change: +0.26%
Energy stocks were higher late Monday afternoon, with the NYSE Energy Sector Index rising 1.1% and the State Street Energy Select Sector SPDR ETF (XLE) adding 0.9%.The Philadelphia Oil Service Sector Index was up 0.4%, and the Dow Jones US Utilities Index was decreasing 0.6%.Oil prices rose Monday as the 60-day ceasefire between the US and Iran expired, with no signs of near-term engagement prospects. The US and Iran agreed to a memorandum of understanding to end their war in June and negotiate a final deal. However, the truce apparently collapsed as tensions over the control of the Strait of Hormuz escalated.Front-month West Texas Intermediate crude oil rose 2.3% to $84.31 a barrel, and the global benchmark Brent crude contract added 2.4% to $90.66 a barrel. Henry Hub natural gas futures fell 1.5% to $2.69 per 1 million BTU.In corporate news, Chevron (CVX) said Monday that its Cabinda Gulf Oil unit has made an oil and gas condensate discovery offshore Angola. The company said the well, which was drilled in the Lower Congo Basin, reached an oil and gas condensate column of more than 600 meters with more than 90 meters of net pay in reservoir quality rock. Chevron shares rose 1.5%.Palantir (PLTR) Co-Founder Peter Thiel has acquired over 1.1 million American depositary shares in Vista Energy (VIST) worth about $75.9 million, according to a filing with the US Securities and Exchange Commission. Vista Energy shares gained 5.7%.Fermi (FRMI) shares were down nearly 4% after it received a subpoena from the US District Court for the Eastern District of New York on July 30 requesting documents related to Project Matador, the company and certain former management members.NexGen Energy (NXE) is sharing information and holding talks with BHP (BHP) about its Rook I mining project in Saskatchewan, as it seeks to raise $1 billion in capital over the next nine months, Reuters reported, citing NexGen CEO Leigh Curyer. NexGen shares rose 3.3%, and BHP added 1.6%.
Energy stocks were higher Monday afternoon, with the NYSE Energy Sector Index rising 0.7% and the State Street Energy Select Sector SPDR ETF (XLE) adding 0.9%.The Philadelphia Oil Service Sector Index was 0.2% higher, and the Dow Jones US Utilities Index was decreasing 0.6%.Front-month West Texas Intermediate crude oil rose 1% to $83.25 a barrel, and the global benchmark Brent crude contract added 1.3% to $89.63 a barrel. Henry Hub natural gas futures fell 1.6% to $2.69 per 1 million BTU.In geopolitical news, President Donald Trump warned Oman of attacks on the day a deadline to reach a permanent peace deal with Iran expired. Monday marks 60 days since the US and Iran signed a memorandum of understanding that called for a wider peace deal to be negotiated within that timeframe, CBS News reported. On the same day, Trump threatened to bomb Oman if the country "gets in the way" of US efforts to reopen the Strait of Hormuz and end the war with Iran, CBS cited Fox News.Earlier, Iran's Foreign Ministry spokesman said Tehran had reached an agreement with Oman regarding future shipping routes in the strait, according to the CBS report. That being said, Iran has decided to shift its policy from defensive to "fully offensive" due to the deadlock in efforts to agree a permanent end to its war with the US, a senior Iranian official told Reuters on Monday.In corporate news, Chevron (CVX) said Monday that its Cabinda Gulf Oil unit has made an oil and gas condensate discovery offshore Angola. The company said the well, which was drilled in the Lower Congo Basin, reached an oil and gas condensate column of more than 600 meters with more than 90 meters of net pay in reservoir quality rock. Chevron shares rose 1.4%.Palantir (PLTR) Co-Founder Peter Thiel has acquired over 1.1 million American depositary shares in Vista Energy (VIST) worth about $75.9 million, according to a filing with the US Securities and Exchange Commission. Vista Energy shares climbed 4.3%.Equinor (EQNR) agreed to acquire 88% of Lackawanna Energy Center's Class A shares for $940 million from funds managed by BlackRock's (BLK) Global Infrastructure Partners. Equinor shares rose 2.1%.
A proposed Iraq-Syria crude oil pipeline will cost at least $15 billion and take four years to complete, but delays are possible because the project requires new infrastructure rather than rehabilitating damaged assets, Reuters reported Monday.The timeline will may have to factor in clearing of old infrastructure and acquiring land use rights from the new Syrian administration, a Reuters source told the news agency. The existing pipeline that links Iraq's northern Kirkuk region to Syria's Mediterranean port of Banias was damaged by wars and last regularly operated in the 1980s.The US has reportedly welcomed the reconstruction of the pipeline, which will increase capacity to 2 million barrels per day from the previous 300,000 barrels per day. US energy major Chevron (CVX), TI Capital, and Qatar's UCC Holding have signed memorandums of agreement with Iraq and Syria for project evaluation.The energy ministries of Iraq and Syria did not immediately respond to' requests for comment.(Market Chatter news is derived from conversations with market professionals globally. This information is believed to be from reliable sources but may include rumor and speculation. Accuracy is not guaranteed.)
Energy giant Chevron (CVX) confirmed via its subsidiary Cabinda Gulf Oil, or Cabgoc, on Monday a major oil and gas condensate discovery at the 105-4X well in offshore Angola's Block 0, featuring a column exceeding 600 meters in the Pinda reservoir.Drilled in the Lower Congo Basin, the well encountered a hydrocarbon column of over 600 meters in the primary Pinda reservoir, with more than 90 meters of net pay of high reservoir quality, it stated.The find will be evaluated for a capital-efficient tie-back to nearby facilities. Cabgoc operates Block 0 with a 39.2% working interest alongside partners Sonangol E&P with 41%, TotalEnergies with 10%, and Azule Energy with 9.8% stake, as per the statement.Building on recent near-field successes in Nigeria and ongoing activities in Angolan deepwater blocks 33, 49, 50, and 14/23, Chevron is preparing a multi-well campaign that includes drilling Namibia's Nabba-1X well on PEL90 before the end of the year, it added.
Chevron (CVX) said Monday that its Cabinda Gulf Oil unit has made an oil and gas condensate discovery offshore Angola.The company said the well, which was drilled in the Lower Congo Basin, reached an oil and gas condensate column of more than 600 meters with more than 90 meters of net pay in reservoir quality rock.The well is operated by Cabinda Gulf Oil, which holds a 39.2% working interest, and is co-owned by Sonangol E&P, with a 41% working interest, followed by TotalEnergies (TTE) and Azule Energy with 10% and 9.8% working interests respectively.
Chevron (CVX) has an average rating of overweight and mean price target of $217.79, according to analysts polled by FactSet.
Phillips 66 (PSX) and Marathon Petroleum (MPC) held merger discussions earlier this year over a potential combination that would have created an oil-and-gas company valued at about $180 billion, Semafor reported Friday, citing people familiar with the situation.The talks eventually ended and are unlikely to be revived in the near term, the people told Semafor.A combination would have created a refining giant accounting for roughly a quarter of US capacity but likely faced antitrust scrutiny and complications from Phillips 66 and Chevron's (CVX) chemicals joint venture and Marathon's ownership of MPLX (MPLX), according to the report.Phillips 66 and Marathon Petroleum didn't immediately respond to' requests for comment.(Market Chatter news is derived from conversations with market professionals globally. This information is believed to be from reliable sources but may include rumor and speculation. Accuracy is not guaranteed.)Price: $233.43, Change: $+0.81, Percent Change: +0.35%
Chevron (CVX) has an average rating of overweight and mean price target of $217.08, according to analysts polled by FactSet.
Chevron (CVX) appointed Uriel Oseguera as treasurer effective Nov. 1, succeeding Navin Mahajan, who will retire after almost 30 years with the company.Oseguera currently serves as vice president of upstream business performance and finance, Chevron said Wednesday in a statement.Price: $196.55, Change: $-0.11, Percent Change: -0.06%
Chevron (CVX) has an average rating of overweight and mean price target of $217.21, according to analysts polled by FactSet.
Chevron (CVX) has an average rating of overweight and mean price target of $217.21, according to analysts polled by FactSet.
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