CHEVRON CORP
Hinduja's Gulf Oil scouts acquisitions in Asia, South America ahead of global listing
Hinduja Group-owned Gulf Oil Lubricants plans to re-enter Mexico and the US in 2027 as it accelerates overseas expansion and scouts acquisitions in South America and Southeast Asia. The group is also considering a global listing of Gulf Oil International in three to five years, while expanding manufacturing capacity in India.
ONGC can withstand oil prices in $60-90 range, says chairman
ONGC chairman Arun Kumar Singh stated the company is prepared for oil prices between $60-90 per barrel. The company's integrated operations help offset gains or losses linked to crude price variations. ONGC plans to expand its renewable energy portfolio to 30% over the next decade. A global oil trading joint venture is planned for establishment by year-end. Significant investment is earmarked for deepwater exploration, targeting 87 wells by 2030-31.
ONGC to enter oil trading, build strategic reserves as upstream remains core
ONGC plans to enter crude and petroleum product trading operations soon. A new strategic petroleum reserve will be built in Mangalore. Exploration and production remain ONGC's central strategic focus. The company will spend one lakh crore on deepwater drilling by 2031. This expansion aims to strengthen supply security and extract more value.
U.S. Stock Market today: S&P 500, Dow Jones, Nasdaq to open in green. Top 3 stocks to focus after Venezuela leader Nicolas Maduro capture
U.S. Stock Market predictions: Share prices of Chevron Corp, ConocoPhillips, Exxon Mobil Corp. rose in the pre-market trading.
Secret Biden deal allowed Chevron to pay Venezuela millions
The Biden administration covertly allowed Chevron to pay millions to Venezuela's government despite sanctions. This arrangement, under a 2022 waiver, aimed to maintain legal compliance while enabling business operations. The move, meant to stabilize Venezuela's economy, faced criticism as Maduro failed to uphold democratic promises, prompting broader debate over the sanctions' effectiveness.
US explorer ConocoPhillips to buy Marathon Oil in $17 billion deal
The move expands ConocoPhillips' footprint in domestic shale fields from Texas to North Dakota and hands the company reserves as far afield as Equatorial Guinea. It adds to a wave of recent megadeals as producers seek new drilling sites on a bet that oil and gas demand will remain robust for years to come.
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Chevron's game-changing $53 billion deal with Hess Corp: A bold step into Guyana's oil boom
Chevron Corp has announced a $53 billion all-stock deal to acquire its smaller rival, Hess Corp, in a move that will reshape the energy landscape. The acquisition will give Chevron a 30% ownership stake in 11 billion barrels of oil equivalent in discovered recoverable resources in Guyana, as well as control over 465,000 net acres of high-quality, long-term inventory in Bakken. Experts believe that the deal will transform the competitive landscape and mark a transformative moment in the energy sector, particularly in the rapidly growing oil region of Guyana.
Chevron to buy Hess Corp for $53 bln in all-stock deal
Chevron has announced its plans to acquire Hess in a $53 billion all-stock deal, aiming to expand its presence in the oil-rich region of Guyana. This move will pit Chevron against Exxon Mobil in the shale and Guyana oil basins, two of the world's fastest-growing oil regions. Guyana has emerged as a significant oil producer in recent years, with Exxon Mobil, Hess, and CNOOC collectively producing 400,000 barrels per day.
Chevron to buy back $75 billion in stock after record profit
The stock repurchase program will kick in April 1 and will be triple the size of the previous authorization unveiled in early 2019, the company said in a statement.
Buffett's Berkshire boosts Ally, Activision holdings; sheds Verizon
Nevertheless, Buffett's conglomerate, which also owns dozens of businesses such as the BNSF railroad and Geico auto insurer, ended June with a $327.7 billion equity portfolio, led by $125.1 billion in Apple Inc.
Berkshire Hathaway buys 9.6 million more Occidental shares, raises stake to over 16%
Berkshire is the largest individual shareholder in Occidental. The company also owns options to buy 83.9 million Occidental shares, which if exercised, would bring its stake to over 25%.
Warren Buffett's Berkshire buys Citigroup and several other stocks, slashes Verizon
Berkshire also finally exited Wells Fargo & Co, a 33-year-old investment that Buffett soured on after finding it too slow to address revelations that employees had mistreated customers, including by opening unwanted accounts.
Buffett's Berkshire buys Aon, slashes Chevron and Wells Fargo
Buffett is "likely shoring up reserves" for a major acquisition, said Doug Kass, a principal at Seabreeze Partners Management LLC in Palm Beach, Florida. "He is clearly in no rush and is sitting on his hands, awaiting the right pitch."
Warren Buffett's Berkshire reveals three new secret buys
The Apple stake reduction left Berkshire with a holding valued at about $120 billion at the end of 2020, according to another filing. The iPhone maker remains Berkshire’s biggest single stock holding.
Occidental's winding path to Anadarko bid led to Buffett
The battle for Anadarko is being keenly watched by the energy industry.
Indian Oil Corp slashes oil import tender time by half
IOC, the nation's largest oil firm, used to take 26 hours to decide on a tender for import of crude oil from spot or current market.
Chevron buys Reliance Industries Ltd's 80 per cent stake in two blocks in Kurdistan
Chevron today said it has bought Reliance Industries' 80 per cent stake in two oil blocks in Kurdistan region of Iraq for an undisclosed amount.
Chevron to buy Atlas for $4.3 bn including debt
Chevron Corp. says it has agreed to acquire Atlas Energy in a deal the companies value at $4.3 billion including debt.
Chevron 3Q profit slips 2%
Chevron Corp. said Friday income slipped nearly 2 percent in the third quarter on costs related to the Gulf of Mexico drilling moratorium and hefty foreign exchange charges.
Chevron sees 3Q earns up significantly from 2Q
Chevron Corp. expects its third-quarter earnings to be significantly higher than the second quarter on higher crude oil prices and gains from asset sales and tax items.
Chevron exits RPL; sells 5 pc stake to RIL
Mukesh Ambani-run Reliance Industries has bought back US energy giant Chevron Corp's five per cent stake in Reliance Petroleum for Rs 1,350 crore.
Chevron sees production growth, cost cuts in 2009
Chevron Corp, the second-largest US oil company, said it expects to increase production 4 per cent this year while also cutting costs to match the sharp drop in oil prices.
RIL to become world's 13th largest refiner post merger
RIL will issue 1 share for every 16 held in RPL, giving it direct control. Swap ratio evokes mixed response I Gainers: BSE ( A, B ) | NSE | Losers: BSE ( A, B ) | NSE
Chevron to exit RPL; sell 5% to RIL
RIL's holding in RPL will increase from 70.38% to 75.38% after the purchase. Globe's biggest M&A dealmakers | Top 10 oil producers | Largest refining companies
Chevron to sell 5% in RPL to RIL at cost price of $300 mn
Chevron became a joint promoter of RPL by buying a 5% stake with the option of acquiring a 24% stake in RPL after commissioning of refinery.
Chevron earnings rise on asset swap gain
Chevron Corp, the second-largest US oil company, said on Friday its fourth quarter profit rose slightly as a gain from an asset swap offset lower oil prices and production.
Chevron posts record earnings; loss from refining
Chevron Corp said on Friday record oil prices drove second-quarter earnings up 11 percent to its highest-ever profit, but weak margins from gasoline production led to a big loss at its refining operations.
Chevron Q1 profit up 10% at $5.17 bn
Astounding profits in the oil industry are becoming as routine as the anguished looks of motorists filling up their gas tanks.
RIL in talks with BG, Chevron, Exxon for stake sale
Reliance Industries is in talks with global energy majors, including British Gas of the UK, Chevron Corp of the US, Exxon and Shell for a possible stake sale in its Krishna-Godavari basin gas fields.
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