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Chevron Corporation

Chevron Corporation

$CVX
NYSEEnergy

235 stories mentioning Chevron CorporationUpdated 1h 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.

Commodities

Market Chatter: Chevron CEO Says Several Vessels Attacked, Warns of 'Very Real' Risks in Strait of Hormuz

Chevron (CVX) CEO Mike Wirth on Friday claimed that several vessels passing through the vital Strait of Hormuz have been targeted recently, highlighting the "very real" risks in the Persian Gulf for shipowners, regardless of the status of the peace deal, according to a Bloomberg report.Talking to Bloomberg TV, Wirth said several vessels have been attacked in transit, and while the incidents may not have happened every day, there were multiple instances.Wirth said while not all the kinetic activity that happened this week was reported in the media, "we see risks very real still in that environment."Chevron, which has six vessels under charter in the Persian Gulf waterway, will not consider paying a toll for transit through Hormuz, Wirth said, adding a decision on whether to pass through the Strait will lie with the ship owner.Meanwhile, the Islamic Revolution Guard Corps on Thursday said that 26 commercial ships, including oil tankers, transited through the Strait of Hormuz over the past day after securing approval from Tehran, Fars News agency reported.Meanwhile, several vessels were stopped or turned back for not having proper authorization, the report said.(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: $181.94, Change: $-1.09, Percent Change: -0.60%

$CVX
Sectors

Sector Update: Energy Stocks Decline Premarket Friday

Energy stocks were declining premarket Friday, with the State Street Energy Select Sector SPDR ETF (XLE) 0.5% lower.The United States Oil Fund (USO) was down 2.2% and The United States Natural Gas Fund (UNG) was 2.6% higher.Front-month US West Texas Intermediate crude oil was 1.9% lower at $87.18 per barrel at the New York Mercantile Exchange. Global benchmark North Sea Brent crude oil lost 1.9% to reach $91.98 per barrel, and natural gas futures were up 5% at $3.04 per 1 million British Thermal Units.Chevron's (CVX) oil production at its Tengiz field in Kazakhstan dropped significantly on Tuesday after an accident, Reuters reported, citing industry sources. Shares of Chevron were down 0.3% pre-bell.Eni (E) Industrial Evolution and Seri Industrial agreed on a joint project to build an integrated industrial supply chain in the lithium iron phosphate battery sector, the oil major said. Eni shares were 0.2% lower premarket.

$CVX$E$UNG$USO$XLE
Sectors

Sector Update: Energy

Energy stocks were declining premarket Friday, with the State Street Energy Select Sector SPDR ETF (XLE) 0.4% lower.The United States Oil Fund (USO) was down 2.5% and the United States Natural Gas Fund (UNG) was 3% higher.Front-month US West Texas Intermediate crude oil was 1.2% lower at $87.86 per barrel at the New York Mercantile Exchange. Global benchmark North Sea Brent crude oil lost 1.5% to $92.27 per barrel, and natural gas futures were up 5% at $3.04 per 1 million British Thermal Units.Chevron's (CVX) oil production at its Tengiz field in Kazakhstan dropped significantly on Tuesday after an accident, Reuters reported, citing industry sources. Shares of Chevron were down 0.4% pre-bell.

$CVX
Equities

Update: Market Chatter: Chevron's Tengiz Oilfield Output Drops After Accident

(Updates with Chevron's statement in the fourth and fifth paragraphs, adds details on Tengizchevroil in the last paragraph)Chevron's (CVX) oil production at its Tengiz field in Kazakhstan dropped significantly on Tuesday after an accident, Reuters reported Friday, citing industry sources.Output fell to between 5,000 and 10,000 metric tons on Tuesday from typically 125,000 tons a day, according to the report.Production climbed to around 82,000 metric tons on Wednesday and is expected to be restored gradually within about a week, Reuters said."On May 28, 2026, Tengizchevroil (TCO) experienced a minor operational disruption at one of its facilities. TCO production is under restoration at present," Chevron toldin an emailed statement."Beyond this, TCO does not comment on specific details of its operations and commercial matters," they added.Tengizchevroil is a joint venture between Chevron, ExxonMobil (XOM), KazMunayGas, and Lukoil.(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.)

$CVX$XOM
Commodities

Market Chatter: Accident at Kazakhstan's Tengiz Oilfield Causes Sharp Output Decline

Kazakhstan's largest oilfield Tengiz, which is led by US energy major Chevron (CVX), saw a sharp decline in output earlier this week following an accident, Reuters reported Friday, citing two industry sources.The sources did not elaborate on the nature or cause of the accident, and expect output to be gradually restored in about a week. The report cited another source, who said production levels had risen to 82,000 metric tons by Wednesday.Daily production levels at the oilfield, located near the Caspian Sea west of the country, usually average around 125,000 tons or 995,000 barrels. However, output was down to 5,000-10,000 metric tons on Tuesday, the report said.The report cited Chevron stating a part of the oilfield had faced minor operational disruption on Thursday and output is being restored.Kazakhstan accounts for about 2% of the daily global crude oil supply, which is primarily transported through the Caspian Pipeline Consortium to the port of Novorossiysk in Russia.In January, production at the Tengiz field was suspended due to an issue related to power distribution. Output was restored to normalcy only April, the report added.has reached out to Chevron and Tengiz oil field operator Tengizchevroil for comments.(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.)

$CVX
Equities

Market Chatter: Chevron's Tengiz Oilfield Output Drops After Accident

Chevron's (CVX) oil production at its Tengiz field in Kazakhstan dropped significantly on Tuesday after an accident, Reuters reported Friday, citing industry sources.Output fell to between 5,000 and 10,000 metric tons on Tuesday from typically 125,000 tons a day, according to the report.Production climbed to around 82,000 metric tons on Wednesday and is expected to be restored gradually within about a week, Reuters said.Chevron told Reuters that a portion of the oilfield experienced "minor operational disruption" on Thursday and that it was restoring production.Chevron did not immediately respond to a request for comment from.(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.)

$CVX
Wire

Update: Chevron Shareholders Reject Proposal for Appointing Independent Board Chair

(Updates with details from the company's statement throughout)Chevron (CVX) shareholders rejected a proposal put forth at the company's annual general meeting that would have required appointing an independent board chair separate from the chief executive officer, according to preliminary voting results released Wednesday.Preliminary results showed that an average of 97% of the votes were in favor of appointing all 12 nominees to the board.About 9% of the votes were in favour of the proposals calling for the publication of a report on indigenous people's rights and a third-party report on human rights processes, the company said.All voting results at the annual general meeting were in line with Chevron's recommendation.Price: $182.98, Change: $+0.58, Percent Change: +0.32%

$CVX
Commodities

Chevron Seeks 70% Stake in Offshore Greek Block

US oil supermajor Chevron (CVX) has filed an official request to acquire a 70% stake from Greece's Helleniq Energy in an offshore block in the southern Ionian Sea, according to the country's Ministry of Environment and Energy Thursday.The companies have jointly made the request for Chevron's participation in the Block 10 concession. They have also submitted a request to transfer the role of operator from Helleniq Energy to Chevron.Once the transaction is approved, Helleniq will retain 30% of the concession rights, while Chevron will also assume the role of trustee, the ministry said.The first and second research phases pertaining to the block had been completed, while the third and final phase involving exploratory drilling remain subject to a decision, according to the statement.The ministry also said that an 18-month extension of the second research phase is being evaluated to allow the companies to jointly evaluate seismic data for the block and neighboring concession areas.Chevron and Helleniq have already signed lease agreements for four new marine areas south of Crete and the Peloponnese.

$CVX
Equities

Chevron Seeks Approval to Acquire 70% Stake in Offshore Greek Concession From Helleniq

Chevron (CVX) and Helleniq Energy have formally requested approval for Chevron's acquisition of a 70% stake in the Area 10 concession offshore the Kyparissia Gulf, according to a Thursday statement from Greece's energy ministry translated by Google.No financial terms were disclosed.The ministry said the companies also applied to transfer the operator role to Chevron, which will serve as trustee of the concession, while Helleniq will retain a 30% stake.

$CVX
Commodities

Market Chatter: Chevron Redirects SPR Oil to California Amid Middle East Supply Risks

California received an oil shipment from the US Strategic Petroleum Reserve this month for the very first time, according to a Reuters report Wednesday.The Iran conflict reduced shipments of Middle Eastern crude, increasing pressure on California, which imported about 230,000 barrels per day of regional oil last year.Strong demand from Asian buyers also limited alternative crude supplies available to California refiners, increasing dependence on emergency reserve barrels from the US Gulf Coast.About 460,000 barrels of Bayou Choctaw Sweet crude were delivered to Chevron's (CVX) Richmond refinery and another 50,000 barrels to the energy major's El Segundo facility in California, Kpler said, citing bills of lading.After loading nearly 980,000 barrels of Bayou Choctaw Sweet crude in Louisiana, tanker Red Moon discharged the cargo at Panama's Atlantic Terminal earlier in May, according to Kpler.A 131-kilometer pipeline then moved the crude across Panama to the Pacific Terminal on the west coast, where Chevron-chartered supertanker Pascagoula Voyager loaded roughly 2 million barrels for delivery to the US West Coast.According to Kpler, Pascagoula Voyager also carried Guyana's Unity Gold crude before smaller vessels transferred the strategic reserve barrels onward to California refineries along the Pacific Coast.Chevron did not immediately respond to' request 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.)

$CVX
Sectors

Sector Update: Energy Stocks Decline Late Afternoon

Energy stocks were lower late Wednesday afternoon, with the NYSE Energy Sector Index falling 1.4% and the State Street Energy Select Sector SPDR ETF (XLE) decreasing 1.1%.The Philadelphia Oil Service Sector Index slumped 2.9%, and the Dow Jones US Utilities Index shed 0.6%.Front-month West Texas Intermediate crude oil fell 5.3% to $88.94 a barrel, and the global benchmark Brent crude contract dropped 5.1% to $94.52 a barrel. Henry Hub natural gas futures rose 5% to $3.04 per 1 million BTU.In sector news, the memorandum of understanding being negotiated between Tehran and Washington will call for US forces to withdraw from Iran's vicinity and lift the blockade of Iranian ports in return for reopening the Strait of Hormuz to pre-war levels, CNN reported, citing Iranian state television. The US denied claims that maritime traffic through the Strait of Hormuz could return to normal within a month of the Iran deal, Bloomberg reported. President Donald Trump on Wednesday expressed confidence that the US would be able to reach a deal to end the conflict, but he is not yet satisfied with the terms, CNN reported.In corporate news, Kosmos Energy (KOS) shares fell 6% after Mizuho downgraded the stock to underperform from neutral.TotalEnergies (TTE) is facing a dispute with Mozambique over about $2 billion in costs tied to delays at its liquefied natural gas project in the country, Bloomberg reported. TotalEnergies shares fell 3.6%.Chevron (CVX) shareholders have rejected a proposal put forth at the company's annual general meeting that would have required appointing an independent board chair separate from the chief executive officer, Reuters reported, citing preliminary voting results. Chevron shares were down 1.4%.DTE Energy (DTE) added 0.3% after the firm said it will invest $1.6 billion to develop Michigan-made battery energy storage systems in collaboration with LG Energy Solution Vertech.

$CVX$DTE$KOS$TTE
Sectors

Sector Update: Energy Stocks Retreat in Afternoon Trading

Energy stocks declined Wednesday afternoon, with the NYSE Energy Sector Index falling 1.1% and the State Street Energy Select Sector SPDR ETF (XLE) decreasing 0.8%.The Philadelphia Oil Service Sector Index slumped 2.7%, and the Dow Jones US Utilities Index shed 0.5%.In sector news, the memorandum of understanding being negotiated between Tehran and Washington will call for US forces to withdraw from Iran's vicinity and lift the blockade of Iranian ports in return for reopening the Strait of Hormuz to pre-war levels, CNN reported, citing Iranian state television. The US denied claims that maritime traffic through the Strait of Hormuz could return to normal within a month of the Iran deal, Bloomberg reported.Front-month West Texas Intermediate crude oil was falling 4.8% to $89.40 a barrel, and the global benchmark Brent crude contract was dropping 4.5% to $95.14 a barrel. Henry Hub natural gas futures rose 4.4% to $3.02 per 1 million BTU.In corporate news, TotalEnergies (TTE) is facing a dispute with Mozambique over about $2 billion in costs tied to delays at its liquefied natural gas project in the country, Bloomberg reported. TotalEnergies shares fell 2.5%.Chevron (CVX) shareholders have rejected a proposal put forth at the company's annual general meeting that would have required appointing an independent board chair separate from the chief executive officer, Reuters reported, citing preliminary voting results. Chevron shares were down 0.9%.DTE Energy (DTE) shares added 0.3% after it said Wednesday it will invest $1.6 billion to develop Michigan-made battery energy storage systems statewide in collaboration with LG Energy Solution Vertech.

$CVX$DTE$TTE
Sectors

Sector Update: Energy

Energy stocks declined Wednesday afternoon, with the NYSE Energy Sector Index falling 1.1% and the State Street Energy Select Sector SPDR ETF (XLE) decreasing 0.8%.The Philadelphia Oil Service Sector Index slumped 2.7%, and the Dow Jones US Utilities Index shed 0.4%.Front-month West Texas Intermediate crude oil was falling 4.2% to $89.95 a barrel, and the global benchmark Brent crude contract was dropping 3.8% to $95.79 a barrel. Henry Hub natural gas futures rose 4.2% to $3.02 per 1 million BTU.In corporate news, Chevron (CVX) shareholders have rejected a proposal put forth at the company's annual general meeting that would have required appointing an independent board chair separate from the chief executive officer, Reuters reported, citing preliminary voting results. Chevron shares were down 0.7%.

$CVX
Wire

Market Chatter: Chevron Shareholders Reject Proposal for Appointing Independent Board Chair

Chevron (CVX) shareholders have rejected a proposal put forth at the company's annual general meeting that would have required appointing an independent board chair separate from the chief executive officer, Reuters reported Wednesday, citing preliminary voting results.Shareholders approved the appointment of all 12 nominees to the board and rejected two other shareholder proposals, the report stated.All voting results at the meeting were in line with what the company has recommended, according to the report.Chevron did not immediately respond to a request for comment from.(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: $181.36, Change: $-3.35, Percent Change: -1.81%

$CVX
Commodities

Market Chatter: Exxon Mobil, ConocoPhillips Seek Safeguards For Return to Venezuela After Nearly Two Decades

US energy giants Exxon Mobil (XOM) and ConocoPhillips (COP) are mulling a return to Venezuela after nearly two decades, pushing for contractual safeguards and the recovery of billions owed since their exit, Bloomberg reported citing people familiar with the matter.Both companies have reportedly held discussions with the government of President Delcy Rodriguez, who has led the country since the US arrest of her predecessor Nicolas Maduro, to tap the South American nation's massive oil reserves.While they said much has yet to be done regarding production sharing agreements and other matters, they were encouraged by the willingness of Rodriguez and her administration to negotiate different aspects of the contracts.The companies are reportedly looking for ways to structure their investments to prevent a repeat of losses they suffered when their assets were previously nationalized.This includes the use of stability clauses, which prevent successive governments from unilaterally changing contracts, and requiring all disputes to be settled via international arbitration instead of local courts."Bringing back Exxon Mobil and ConocoPhillips is a top priority for the government, and they're putting a lot of resources and effort behind it," said Carlos Bellorin, an executive vice president at Welligence Energy Analytics, told Bloomberg.He said the deal needs to be attractive to persuade these companies to invest.Chevron (CVX), another major US oil and gas company, has remained present in Venezuela throughout the nationalizations by former President Hugo Chavez. That positions it well now to ramp up output, with crude hovering around $100 per barrel.Neither ExxonMobil nor ConocoPhillips immediately responded to' request 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.)

$COP$CVX$XOM
Equities

Mizuho Securities Adjusts Price Target on Chevron to $230 From $225, Maintains Outperform Rating

Chevron (CVX) has an average rating of overweight and mean price target of $215.18, according to analysts polled by FactSet.(covers equity, commodity and economic research from major banks and research firms in North America, Asia and Europe. Research providers may contact us here: https://finwires.com/en/contact)

$CVX
Asia Markets

Progress on Potential Middle East Peace Agreement Drives US Equity Futures Higher Pre-Bell

US equity futures were edging higher pre-bell Tuesday as traders monitored the US-Iran situation for a potential peace agreement to end the Middle East war.Dow Jones Industrial Average futures were 0.5% higher, S&P 500 futures were up 0.7%, and Nasdaq futures were 1.1% higher.US Secretary of State Marco Rubio said that negotiations could "take a few days." Both sides said they have made progress on a potential memorandum of understanding that would end the war and provide 60 days for negotiators to reach a final deal.The framework of the memorandum is focused on halting the war and the US naval blockade in exchange for Iran ensuring safe transit in the Strait of Hormuz, according to Iranian foreign ministry spokesperson Esmaeil Baghaei.Traders observed the latest round of earnings, with AutoZone (AZO) reporting an increase in fiscal Q3 net income and net sales.Oil prices were mixed, with front-month global benchmark North Sea Brent crude up 3% at $96.22 per barrel and US West Texas Intermediate crude 3.9% lower at $92.84 per barrel.The Chicago Federal Reserve Bank's monthly National Activity Index rebounded to a reading of 0.14 in April from negative 0.15 in March, compared with expectations for a smaller gain to negative 0.03 in survey of analysts compiled by Bloomberg as of 7:30 am ET.The March S&P Case-Shiller home price index is scheduled for release at 9 am ET. The May consumer confidence index, due at 10 am ET, is projected to fall to 92.0 from 92.8.In other world markets, Japan's Nikkei closed 0.3% lower, Hong Kong's Hang Seng ended flat, and China's Shanghai Composite finished 0.2% lower. Meanwhile, the UK's FTSE 100 was up 0.5% and Germany's DAX index was 0.4% lower in Europe's early afternoon session.In equities, Eli Lilly (LLY) shares were up 1.2% after the company said its experimental gene-editing therapy, VERVE-102, reduced LDL cholesterol and PCSK9 protein levels in a phase 1 study involving adults with heterozygous familial hypercholesterolemia or premature coronary artery disease. BHP Group (BHP) stock was 1.4% higher after a Guardian report that the company scrapped plans for an iron ore processing facility near its Jimblebar mine in Western Australia that was expected to improve ore quality and lower emissions.On the losing side, energy majors ExxonMobil (XOM), Chevron (CVX), and Occidental Petroleum (OXY) saw their shares decline after oil prices fell below $100 for the first time in weeks. ExxonMobil shares were down 1.1%, Chevron stock was 1.2% lower, and Occidental Petroleum shares also fell 1.2%.

Dow JonesNasdaq CompositeS&P 500$AZO$BHP$CVX$LLY$OXY$XOM
Equities

Barclays Adjusts Price Target on Chevron to $213 From $192, Maintains Equalweight Rating

Chevron (CVX) has an average rating of overweight and mean price target of $215.18, according to analysts polled by FactSet.(covers equity, commodity and economic research from major banks and research firms in North America, Asia and Europe. Research providers may contact us here: https://finwires.com/en/contact)

$CVX
Equities

Morgan Stanley Adjusts Chevron Price Target to $214 From $212, Maintains Overweight Rating

Chevron (CVX) has an average rating of overweight and mean price target of $214.23, according to analysts polled by FactSet.(covers equity, commodity and economic research from major banks and research firms in North America, Asia and Europe. Research providers may contact us here: https://finwires.com/en/contact)

$CVX
Oil & Energy

QatarEnergy Acquires Stake in 3 Exploration Blocks Offshore Uruguay

QatarEnergy has acquired participating interests in three offshore exploration blocks in Uruguay, from Shell (SHEL) subsidiary BG International, marking its first foray into the country's upstream sector, it said Wednesday.The company did not disclose the acquisition cost.QatarEnergy now holds a 30% interest in block OFF-2. Shell, which owns a 70% interest, operates the block.In block OFF-4, operated and 50% owned by APA, QatarEnergy now holds an 18% interest. Shell holds the remaining 32% stake, the statement said.The Middle East company also acquired a 30% interest in block OFF-7, where Shell holds a 40% stake and Chevron (CVX) 30%.The three blocks span 11,155 to 18,227 square kilometers, according to the report.Price: $87.56, Change: $-0.90, Percent Change: -1.02%

$CVX$SHEL

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