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Chevron Corporation

Chevron Corporation

$CVX
NYSEEnergy

235 stories mentioning Chevron CorporationUpdated just now

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.

Equities

Shell Sells Stakes in Uruguay Offshore Blocks to QatarEnergy

Shell (SHEL) unit BG International has sold participating interests in three exploration blocks offshore Uruguay to QatarEnergy, which made the announcement Wednesday.QatarEnergy bought an 18% interest in block OFF-4, with Shell holding 32% and operator APA (APA) accounting for the rest.QatarEnergy has also acquired a 30% stake in block OFF-2, which is operated by Shell with a 70% interest.QatarEnergy purchased a 30% stake in block OFF-7, with operator Shell retaining a 40% share. Chevron (CVX) holds the remaining 30%, QatarEnergy said.

$APA$CVX$SHEL
Equities

Bernstein Adjusts Price Target on Chevron to $204 From $216, Maintains Market Perform Rating

Chevron (CVX) has an average rating of overweight and mean price target of $214.14, 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

Energean Oil Output Drops in Q1 Over Iran War Disruption to Israel Ops

London-listed Energean produced 21% less oil in Q1 due to government orders to suspend work in Israel due to the Iran war, it said on Wednesday.Output fell to 114,000 barrels of oil equivalent per day on average down from 145,000 boe/d in Q1, 2025, Energean's earnings statement said.Following a restart in Israel, after the Feb. 28 to April 9 interruption, production has returned to normal levels of 152,000 boe/d, including 116,000 boe/d in Israel.Production guidance across the group for 2026 is 130,000 to 140,000 boe/d, reduced from 140,000 to 150,000 boe/d previously, including Israel outlook reduction to 98,000 to 104,000 boe/d, down from 108,000 to 114,000 boe/d.The company expects second oil train commissioning by late May increasing liquids production to 20,000 barrels per day from 13,000 bbl/d, the statement said.Energean said it is on track to receive all necessary warrants to take up a presence in Angola after its acquisition of Chevron's (CVX) 31% operated interest in oil Block 14 and 15.5% non-operated interest in Block 14K.The company says the acquisition is a first step to expanding its presence in West Africa.

$CVX
Equities

Market Chatter: Chevron, Motiva Cut Motor Oil Feedstock Deliveries as Iran War Disrupts Market

Chevron (CVX) and Saudi Aramco-owned Motiva Enterprises have reduced some customer deliveries of Group III and II base oils, key ingredients used in high-end motor oil and lubricants, to minimum contractual levels as the Iran war continues to disrupt supplies, Bloomberg reported on Tuesday, citing people familiar with the matter.Such reductions were highly unusual outside refinery outages, with Group III supplies especially constrained, the report said.Global base oil markets have been under pressure since the conflict began, while Group III prices have climbed to record highs, according to Argus Media, cited by Bloomberg.The US imports 44% of its Group III oil from the Middle East. Bloomberg said supply strains worsened after Iranian attacks in March damaged Shell's Pearl GTL facility in Qatar, a major supplier.(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

HSBC Adjusts Price Target on Chevron to $221 From $217, Maintains Buy Rating

Chevron (CVX) has an average rating of overweight and mean price target of $214.14, 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
Wire

Market Chatter: US Energy Secretary Expects China to Increase Oil Imports From US

US Secretary of Energy Chris Wright told CNBC on Friday he expects China to increase oil imports from the US because the two nations are natural partners and because China relies heavily on imports from the Middle East that have mostly been cut off for weeks.(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: $156.00, Change: $+4.25, Percent Change: +2.80%

$CVX$OXY$TTE$XOM
Wire

US Energy Secretary Expects China to Increase Oil Imports From US, CNBC Reports

US Energy Secretary Expects China to Increase Oil Imports From US, CNBC Reports

$COP$CVX$OXY$XOM
Commodities

Update: Woodside Energy Gas Plants Face Industrial Action; Supply Risks Emerge

(Updates with Woodside Energy's comments in sixth paragraph.)Workers at Woodside Energy's (WDS) maintenance contractor UGL will take industrial action from May 20 at Karratha and Pluto gas facilities in Australia over a wage and working conditions dispute, the Offshore Alliance union said on Friday.Inpex's Ichthys LNG facility is also facing the prospect of industrial action, with labor unions considering issuing a strike notice if an agreement is not reached at some point on Friday, according to multiple media outlets.Exports of liquefied natural gas from these facilities could be affected, triggering a wider supply disruption, particularly as shipments through the Strait of Hormuz remain largely restricted, Bloomberg said.Australian LNG producers are already running close to operational limits to increase supply, the news agency reported, as Asian buyers seek alternative cargoes in response to the disruption to energy flows resulting from the Middle East conflict.Woodside's Karratha gas plant has an export capacity of 14.3 million tons per annum. Pluto LNG currently exports about 5 mtpa, which could double to around 10 mtpa once the second train becomes operational. Inpex's Ichthys LNG plant adds another 9.3 mtpa to global supply.Woodside toldthat its "priority remains the performance of its operations in a safe and reliable manner," while it "respects the rights of contractor employees to engage in protected industrial action under the Fair Work Act."Inpex, meanwhile, did not immediately respond to' request for comment.In 2023, strikes at Chevron's (CVX) facilities in Australia had resulted in LNG price spikes in Europe and Asia, due to the prospect of reduced gas exports, Bloomberg reported.Price: $22.46, Change: $+0.15, Percent Change: +0.65%

$CVX$WDS
Commodities

Woodside Energy Gas Plants Face Industrial Action; Supply Risks Emerge

Workers at Woodside Energy's (WDS) maintenance contractor UGL will take industrial action from May 20 at Karratha and Pluto gas facilities in Australia over a wage and working conditions dispute, the Offshore Alliance union said on Friday.Inpex's Ichthys LNG facility is also facing the prospect of industrial action, with labor unions considering issuing a strike notice if an agreement is not reached at some point on Friday, according to multiple media outlets.Exports of liquefied natural gas from these facilities could be affected, triggering a wider supply disruption, particularly as shipments through the Strait of Hormuz remain largely restricted, Bloomberg said.Australian LNG producers are already running close to operational limits to increase supply, the news agency reported, as Asian buyers seek alternative cargoes in response to the disruption to energy flows resulting from the Middle East conflict.Woodside's Karratha gas plant has an export capacity of 14.3 million tons per annum. Pluto LNG currently exports about 5 mtpa, which could double to around 10 mtpa once the second train becomes operational. Inpex's Ichthys LNG plant adds another 9.3 mtpa to global supply.The companies did not immediately respond to' requests for comment.In 2023, strikes at Chevron's (CVX) facilities in Australia had resulted in LNG price spikes in Europe and Asia, due to the prospect of reduced gas exports, Bloomberg reported.

$CVX$WDS
Sectors

Sector Update: Energy Stocks Rise Late Afternoon

Energy stocks advanced late Thursday afternoon, with the NYSE Energy Sector Index and the State Street Energy Select Sector SPDR ETF (XLE) each adding 0.8%.The Philadelphia Oil Service Sector Index was climbing 1.3%, and the Dow Jones US Utilities Index was up 0.3%.Front-month West Texas Intermediate crude oil was rising 0.8% to $101.79 a barrel, and the global benchmark Brent crude contract was adding 0.6% to $106.30 a barrel. Henry Hub natural gas futures rose 1.6% to $2.91 per 1 million BTU.US natural gas stocks rose by 85 billion cubic feet in the week ended May 8, smaller than the 87 billion gain expected in a survey compiled by Bloomberg and following an increase of 63 billion cubic feet in the previous week.In corporate news, Infinity Natural Resources (INR) shares gained 3% after RBC Capital Markets said in a note the company is positioned to outperform peers over the next year as a "niche player" that can switch focus between oil and natural gas.Constellation Energy (CEG) and Pine Creek RNG said Thursday they have signed a long-term agreement under which Constellation will buy a minority equity interest in five Pine Creek production facilities. Constellation shares increased 0.3%.Chevron (CVX) has agreed to sell its downstream fuels and lubricants marketing businesses in Singapore, Malaysia, the Philippines, Australia, Vietnam and Indonesia, to Eneos for $2.17 billion, Eneos said. Chevron shares added 0.2%.New Fortress Energy (NFE) is seeking permission from a UK court for a restructuring plan that will convert 90% of its $6.5 billion debt into equity and transfer ownership of the company to creditors, Bloomberg reported. New Fortress shares fell 7%.

$CEG$CVX$INR$NFE
Sectors

Sector Update: Energy Stocks Higher Thursday Afternoon

Energy stocks advanced Thursday afternoon, with the NYSE Energy Sector Index rising 0.8% and the State Street Energy Select Sector SPDR ETF (XLE) adding 0.9%.The Philadelphia Oil Service Sector Index was climbing 1%, and the Dow Jones US Utilities Index was fractionally higher.Front-month West Texas Intermediate crude oil was rising 0.7% to $101.70 a barrel, and the global benchmark Brent crude contract was adding 0.1% to $105.73 a barrel. Henry Hub natural gas futures rose 1.4% to $2.90 per 1 million BTU.US natural gas stocks rose by 85 billion cubic feet in the week ended May 8, smaller than the 87 billion gain expected in a survey compiled by Bloomberg and following an increase of 63 billion cubic feet in the previous week.In corporate news, Constellation Energy (CEG) and Pine Creek RNG said Thursday they have signed a long-term agreement under which Constellation will buy a minority equity interest in five Pine Creek production facilities. Constellation shares increased 0.6%.Chevron (CVX) has agreed to sell its downstream fuels and lubricants marketing businesses in Singapore, Malaysia, the Philippines, Australia, Vietnam and Indonesia, to Eneos for $2.17 billion, Eneos said. Chevron shares added 0.3%.New Fortress Energy (NFE) is seeking permission from a UK court for a restructuring plan that will convert 90% of its $6.5 billion debt into equity and transfer ownership of the company to creditors, Bloomberg reported. New Fortress shares fell nearly 6%.

$CEG$CVX$NFE
Sectors

Sector Update: Energy

Energy stocks were higher Thursday afternoon, with the NYSE Energy Sector Index rising 0.8% and the State Street Energy Select Sector SPDR ETF (XLE) adding 0.9%.The Philadelphia Oil Service Sector Index was climbing 1%, and the Dow Jones US Utilities Index was fractionally higher.Front-month West Texas Intermediate crude oil was rising 0.3% to $101.35 a barrel, and the global benchmark Brent crude contract was decreasing 0.2% to $105.42 a barrel. Henry Hub natural gas futures rose 1.1% to $2.90 per 1 million BTU.In corporate news, Chevron (CVX) has agreed to sell its downstream fuels and lubricants marketing businesses in Singapore, Malaysia, the Philippines, Australia, Vietnam and Indonesia, to Eneos for $2.17 billion, Eneos said. Chevron shares were up 0.4%.

$CVX
Sectors

Sector Update: Energy Stocks Edge Higher Pre-Bell Thursday

Energy stocks were edging higher pre-bell Thursday, with the State Street Energy Select Sector SPDR ETF (XLE) marginally advancing.The United States Oil Fund (USO) was down 0.7% and The United States Natural Gas Fund (UNG) was 0.9% lower.Front-month US West Texas Intermediate crude oil was 0.4% lower at $100.62 per barrel at the New York Mercantile Exchange. Global benchmark North Sea Brent crude oil lost 0.6% to reach $105.02 per barrel, and natural gas futures were down 1.4% at $2.82 per 1 million British Thermal Units.Kodiak Gas Services (KGS) shares were down more than 4% after the company priced an underwritten public offering of 10.6 million shares at $71 apiece.Chevron (CVX) agreed to sell its downstream fuels and lubricants marketing businesses in Singapore, Malaysia, the Philippines, Australia, Vietnam and Indonesia, to ENEOS for $2.17 billion, ENEOS said. Chevron stock was 0.3% lower pre-bell.

$CVX$KGS$UNG$USO$XLE
Commodities

Eneos to Acquire Chevon Southeast Asia Business for $2.2 Billion, Reports Lower Sales in 2025

Japan-based Eneos will acquire several downstream businesses in Southeast Asia and Australia from Chevron (CVX) for $2.17 billion, it said on Thursday, transactions that will occur through share purchase agreements.Separately, in its earnings report published on Thursday, the company said it was diversifying away from crude supplies that usually transit through the shuttered Strait of Hormuz and is expanding its very large crude carrier fleet to this end.The acquisition deal involves the acquisition of 100% of Chevron's downstream fuels and lubricants marketing businesses in Singapore, Malaysia, the Philippines, Australia, Vietnam and Indonesia, which includes a 50% non-operated interest in Singapore Refining.The deal is expected to close at some point during 2027 subject to regulatory approvals.In its earnings report, showing increased profit margins despite smaller revenue, Eneos said 2025 liquid petroleum product sales were 43.1 million liters, down from 44.4 million in 2024. Its forecasts sales of 41.5 million liters in 2026.Crude oil sales were unchanged in 2025 from the prior year at 95,000 barrels per day, while for 2026 they are expected to fall to 89,000 barrels.

$CVX
Equities

Chevron to Sell Asia-Pacific Fuels, Lubricants Businesses to ENEOS for $2.17 Billion

Chevron (CVX) agreed to sell its downstream fuels and lubricants marketing businesses in Singapore, Malaysia, the Philippines, Australia, Vietnam and Indonesia, to ENEOS for $2.17 billion, ENEOS said Thursday.The company said the deal includes Chevron Singapore's 50% non-operated stake in Singapore Refining.ENEOS further said it will complete the deal through a Singapore-based special purpose vehicle that will acquire Chevron's local downstream entities across the region.The companies expect the transaction to close in 2027.

$CVX
Asia Markets

US Equity Indexes Advance This Week as AI-Trade Boosts Technology While Iran Ceasefire Continues

US equity indexes rose this week as quarterly earnings showed the benign effect of artificial intelligence on corporate results, sending the S&P 500 and the Nasdaq Composite to new highs amid a fragile ceasefire.* The S&P 500 closed at 7,398.93 on Friday versus 7,230.12 a week ago. The Nasdaq Composite stood at about 26,247.07, compared with 25,114.44 a week earlier. The Dow Jones Industrial Average ended at 49,609.16, versus 49,499.27 at the end of last week.* Technology, consumer cyclicals, and communication services were among the top five sectors. Energy led the decliners.* In a category of stocks with a market capitalization of more than $200 billion, firms with the heaviest of weights and sway in indexes, all but one were semiconductor companies with a weekly gain of at least 11%, according to data compiled by Finviz. The lone exception was Oracle (ORCL), up 14%.* "It's crystal clear to us that the AI Revolution is accelerating at a warp speed pace with 2026 being an inflection point year for AI with hyperscalers now investing over $700 billion in capex in FY26 to capitalize on the opportunities in the space," Daniel Ives, global head of technology at Wedbush Securities, said in a note Thursday.* In the same category of mega-caps, the five worst performers included Shell (SHEL), Exxon (XOM), and Chevron (CVX), down at least 5% each.* The US expects a response on Friday from Iran on a proposal to end the war, Secretary of State Marco Rubio said, adding he hopes "it's a serious offer," CNN reported.* According to President Donald Trump, the Iran ceasefire remains in effect, after US forces disabled two Iranian-flagged unladen oil tankers on Friday that were attempting to dock at an Iranian port on the Gulf of Oman in violation of the US blockade. Iran has created a government agency to vet and tax vessels seeking passage through the Strait of Hormuz, an Associated Press report cited a shipping data company Thursday.

Dow JonesNasdaq CompositeS&P 500$CVX$ORCL$SHEL$XOM
Equities

Argus Adjusts Price Target on Chevron to $206 From $203

Chevron (CVX) has an average rating of overweight and mean price target of $212.87, 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

Potential Middle East Peace Agreement, Oil Price Declines Drive US Equity Futures Higher Pre-Bell

US equity futures were higher pre-bell Wednesday as oil prices slipped and a peace agreement between the US and Iran was reportedly close to being finalized.Dow Jones Industrial Average futures were 0.9% higher, S&P 500 futures were up 0.8%, and Nasdaq futures were 1.3% higher.The White House believes it is nearing an agreement with Iran on a one-page memorandum of understanding to end the conflict and establish a framework for more detailed nuclear negotiations, according to an Axios report, citing two US officials and two other sources briefed on the issue.In a post on Truth Social, President Donald Trump said he had paused "Project Freedom," a military operation to escort ships through the Strait of Hormuz, to see if an agreement with Iran can be signed.Traders kept an eye on the latest round of earnings, with AMD (AMD) reporting stronger-than-expected fiscal Q1 results and issuing an upbeat Q2 revenue outlook. Walt Disney (DIS) posted higher fiscal Q2 adjusted earnings and revenue that also surpassed analysts' estimates.Oil prices were lower, with front-month global benchmark North Sea Brent crude down 6.9% at $102.28 per barrel and US West Texas Intermediate crude 7.7% lower at $94.45 per barrel.ADP's national employment report showed that private-sector employment increased by 109,000 in April, compared with expectations for a 120,000 gain in a survey compiled by Bloomberg.Federal Reserve St. Louis President Alberto Musalem is slated to speak at 9:30 am, and Chicago President Austan Goolsbee speaks at 1 pm ET.In other world markets, Japan's Nikkei was closed due to a public holiday. Hong Kong's Hang Seng ended 1.2% higher and China's Shanghai Composite finished 1.2% higher. Meanwhile, the UK's FTSE 100 was up 2.2%, and Germany's DAX index was 1.8% higher in Europe's early afternoon session.In equities, AMD and Disney shares rose 16% and 5.5%, respectively, after the companies reported their latest quarterly financial results. Alphabet (GOOG, GOOGL) stock was up 1.7% after the company's Google Cloud secured a $200 billion commitment from Anthropic for computing capacity and processors, according to a report from The Information citing a person with knowledge of the matter.On the losing side, Arista Networks (ANET) stock was down 9.1% despite the company posting higher Q1 non-GAAP earnings and revenue. Exxon Mobil (XOM) and Chevron (CVX) shares were down 3.6% and 3.7%, respectively, as energy majors saw stock price declines amid the dip in oil prices.

Dow JonesNasdaq CompositeS&P 500$AMD$ANET$CVX$DIS$GOOG$GOOGL$XOM
Equities

Raymond James 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 $212.61, 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

HSBC Adjusts Price Target on Chevron to $217 From $215, Maintains Buy Rating

Chevron (CVX) has an average rating of overweight and mean price target of $212.61, 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)

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