Chevron

"Chevron's Lobbying Efforts Look Like Extortion"

November 17, 2009 -- Washington D.C. - Ways and Means member Rep. Linda Sánchez (D-CA) testified today before the Trade Subcommittee hearing on trade preference systems. Rep. Sánchez, a long time advocate for a new trade model, took the opportunity to discuss what works about U.S. trade preferences policy as well as what does not.    » read more »

11/04/2009 -- LOS ANGELES – The U.S. Environmental Protection Agency has issued a Unilateral Administrative Order to Texaco Inc. that requires the company to assess soil and groundwater contamination and evaluate additional cleanup options, for the Pacific Coast Pipeline Superfund Site (commonly known as the “Texaco site”) in Fillmore, Calif.

“With this UAO, EPA looks forward to moving the Site cleanup into its final phase, so the property can be returned to productive reuse by the community,” said Keith Takata, Director of the Superfund program in EPA’s Pacific Southwest Region. “This cooperative effort builds on prior cleanup work and will result in a protective cleanup for the community.”    » read more »

Upstream earnings of $3.64 billion decline 41 percent on lower prices for crude oil and natural gas

SAN RAMON, Calif., October 30, 2009 - Chevron Corporation (NYSE: CVX) today reported earnings of $3.83 billion ($1.92 per share - diluted) for the third quarter 2009, compared with $7.89 billion ($3.85 per share - diluted) in the 2008 third quarter. Earnings in the 2009 period included gains of approximately $400 million ($0.20 per share) from asset sales and tax items.

Foreign-currency effects reduced earnings in the 2009 quarter by $170 million, compared with a benefit to income of $303 million a year earlier.    » read more »

Discovery in Highly Prospective Gorgon Area Supports Company's Long-Term Plans for Natural Gas Development

SAN RAMON, Calif., October 18, 2009 - Chevron Corporation (NYSE: CVX) today announced an additional natural gas discovery in the Greater Gorgon area's Carnarvon Basin, Australia's premier offshore hydrocarbon zone.

The Achilles-1 exploration well, located approximately 100 miles (160 kilometers) off the coast of northwest Australia, was drilled to a total depth of 14,800 feet (4,500 meters) and encountered approximately 325 feet (100 meters) of net gas pay.    » read more »

Dave O'Reilly to Retire After 41 Years of Company Service

SAN RAMON, Calif. , Sept. 30, 2009 - The board of directors of Chevron Corporation (NYSE: CVX) today elected John S. Watson, 52, chairman of the board and chief executive officer of the company, effective Dec. 31, 2009. Watson, who is currently vice chairman, succeeds David J. O'Reilly, who will retire from the company and its board after a distinguished 41-year career, including 10 years as chairman and CEO.    » read more »

15-year Deal Builds on Several Recent Supply Commitments Commercializing Chevron's Equity Natural Gas in Australia

SAN RAMON, Calif., September 15, 2009 - Chevron Corporation (NYSE: CVX) today announced that its Australian subsidiaries have signed a Heads of Agreement (HOA) with the Korea Gas Corporation (KOGAS) for 1.5 million metric tons per annum (MTPA) of liquefied natural gas (LNG) from the Gorgon project.

As part of the arrangement, Chevron and KOGAS have an option to extend the 15-year agreement for a further five years. The parties are also discussing LNG sales and an equity purchase from Chevron's Wheatstone project, located in northwest Australia.    » read more »

Find Demonstrates Chevron's Ongoing Exploration Success in Prolific Block 0

SAN RAMON, Calif., August 7, 2009 - Chevron Corporation (NYSE:CVX) announced today that its affiliate, Cabinda Gulf Oil Company Limited (CABGOC) and its partners, had made a successful discovery in Block 0 located adjacent to the Cabinda coastline in Angola.

The 79-3XST1 discovery well, drilled in March 2009 in 397 feet (120 meters) of water to a total vertical depth of 13,000 feet (3965 meters), encountered over 225 feet of net hydrocarbon pay in the Upper Pinda formation. The well was tested from a single 150 ft. perforated interval and flowed at a rate of 11.6 million cubic feet of natural gas and 2,550 barrels of liquid hydrocarbons per day.    » read more »

SAN RAMON, Calif., May 27, 2009 - Record performance in 2008 helped enable Chevron Corporation (NYSE: CVX) to reward its investors, fund a robust capital program and position the company to capitalize on the increase in demand for energy that will come with the global economic recovery, attendees were told today at the company's 2009 Annual Meeting of Stockholders.    » read more »

SAN RAMON, Calif., May 7, 2009 - Chevron Corporation (NYSE:CVX) today confirmed a discovery within the Moho-Bilondo license in the Republic of the Congo.

The Moho Nord Marine-4 well, in which Chevron Overseas (Congo) Limited holds a 31.5 percent interest, is located approximately 46 miles (75 kilometers) offshore of the Republic of the Congo, in 3,537 feet (1,078 meters) of water in the northern part of the Moho-Bilondo license.

George Kirkland, Chevron executive vice president, Global Upstream and Gas, said, "This exciting discovery emphasizes the future potential of this region in which Chevron and its partners have already made significant energy investments, including the Moho-Bilondo project."    » read more »

Gulf's Deepest Production Expected to Add 125,000 Barrels of Oil Per Day

SAN RAMON, Calif., May 6, 2009 – Chevron Corporation (NYSE: CVX) has announced that it has started crude oil production from its Tahiti Field, the deepest producing field in the Gulf of Mexico. First oil from Tahiti was achieved on May 5, 2009. Daily production is expected to ramp up to approximately 125,000 barrels of crude oil and 70 million cubic feet of natural gas before the end of the year.    » read more »

WASHINGTON -- May 21, 2008 – Senate Judiciary Committee Chairman Patrick Leahy (D-Vt.) convened a hearing this morning to examine the explosive rise in oil prices in recent months. The hearing featured testimony from executives of five major oil companies – ExxonMobil, ConocoPhillips, Chevron, BP America and Shell.

Exxon building, Houston, Texas: Photo by Tom Haymes (CC)    » read more »

Washington, D.C. -- May 21, 2008 -- Senator Arlen Specter (R-Pa.), Ranking Member of the Senate Judiciary Committee, today questioned the top oil industry executives on the skyrocketing price of oil at a Senate Judiciary Committee hearing.

In his opening remarks, Senator Specter noted the primacy of the problem:

Gas prices, May 2008: Photo by aaron@digtialcole (CC)

“We are obviously in a crisis, national, international, with the escalating costs of oil and the intolerable prices of gasoline at the pump. It's important that we bear all of our resources to try to figure out what to do about it.”    » read more »

31 March 2008 -- Japan's jobless rate has risen for the first time in five months, and Chevron Corporation has discovered large offshore natural gas deposits in Vietnam. Naomi Martig in Hong Kong has more on these and other business stories from the region.

Japan's unemployment rate has risen for the first time in five months, partly because exports to the United States fell. Japanese officials say the jobless rate rose to 3.9 percent in February, up from the 3.8 percent recorded the previous month.

Analysts say the increase is not worrisome, but that it does indicate that companies are concerned about hiring workers as they deal with rising costs and slower U.S. consumer spending.    » read more »

February 29, 2008 -- OLYMPIA – Washington Governor Chris Gregoire today commented on the creation of a joint venture between and Chevron and Weyerhaeuser:

“I am very pleased by today’s news that Chevron Corporation and Weyerhaeuser Company are forming a joint venture to develop renewable fuels. Climate change threatens our environment’s health and stability, which in turn threatens our economic viability. As a leader in renewable energy, Washington can and must be innovative on moving forward for a cleaner and prosperous future.    » read more »

Joint effort to identify and develop algae strains for feedstock in next-generation biofuels

October 31, 2007 -- SAN RAMON, Calif. – Chevron Corporation (NYSE: CVX) and the U.S. Department of Energy’s National Renewable Energy Laboratory (NREL) announced today that they have entered into a collaborative research and development agreement to study and advance technology to produce liquid transportation fuels using algae.    » read more »