Welcome to our dedicated page for Chevron news (Ticker: CVX), a resource for investors and traders seeking the latest updates and insights on Chevron stock.
Chevron Corporation (NYSE: CVX) is frequently in the news as one of the world’s leading integrated energy companies. Company announcements highlight its role in producing crude oil and natural gas, manufacturing transportation fuels, lubricants, petrochemicals and additives, and developing technologies that support both its core energy operations and its emerging new energies businesses.
News about Chevron often centers on quarterly and annual financial results, including earnings, cash flow from operations, capital expenditures, and segment performance in U.S. and international upstream and downstream operations. These releases provide details on net oil-equivalent production, refinery crude unit inputs, refined product sales, and the contribution of affiliates such as Tengizchevroil. They also discuss how acquisitions like Hess Corporation affect production, earnings, and portfolio composition.
Investors following CVX news will see regular updates on capital programs and guidance. Chevron has announced multi-year capital expenditure ranges, with most spending directed to upstream projects such as U.S. shale and tight assets and global offshore developments, and a portion allocated to downstream projects and initiatives that lower the carbon intensity of operations and grow new energies businesses. Investor day presentations describe expectations for cash flow growth, return on capital employed, and synergies from acquisitions.
Chevron’s news flow also includes leadership and governance developments, such as changes in executive roles, appointments to the board of directors, and amendments to corporate by-laws. In addition, the company issues advisories for earnings conference calls and webcasts, giving investors and analysts access to management’s commentary on results and outlook.
Another theme in Chevron-related news is its expansion into new energies and power solutions, including renewable fuels, carbon capture and offsets, hydrogen, and power generation for data centers. The company’s involvement with technology partners, such as its use of a predictive procurement platform described by Arkestro, illustrates how Chevron applies digital tools to procurement and supply chain management.
For anyone tracking CVX, this news page brings together earnings releases, capital program updates, acquisition integration milestones, leadership changes, and strategic announcements on new energy initiatives, providing a consolidated view of Chevron’s ongoing developments.
Chevron Corporation (NYSE: CVX) announced at its annual investor meeting an increase in share buyback guidance to
Chevron Corporation (NYSE: CVX) has entered into an agreement with Sembcorp Marine Repairs & Upgrades Pte. Ltd. to enhance the carbon efficiency of its LNG fleet. This collaboration aims to install advanced technologies aboard Chevron vessels, including a reliquefication system and hull air lubrication, to reduce carbon emissions and improve operational efficiency. The initiative aligns with the International Maritime Organization's decarbonization targets. Expected completion of the upgrades is by mid-2025, bolstering Chevron’s commitment to lower carbon solutions in the maritime sector.
Chevron has signed a memorandum of understanding (MoU) with the Egyptian Ministry of Petroleum and Mineral Resources to optimize practices aimed at reducing methane emissions. This collaboration builds on previous commitments made during COP27 and aligns with Egypt's goals under the Global Methane Pledge. Initiatives include study tours and workshops focused on methane control technologies. Chevron reports a 50% reduction in its upstream methane intensity since 2016 and emphasizes the importance of collaborative efforts to enhance skills for effective emissions management.
Chevron Corporation (NYSE: CVX) and the Fab Foundation launched the Chevron Fab STEM Fellowship, supporting global STEM educators. Awarded to Nathan Pritchett from Tulsa, Oklahoma, and Pieter Verduijn from Aruba, each fellow receives a stipend of $10,000 to innovate inclusive STEM education programs.
This one-year program aims to engage underrepresented student populations, involving visits to Fab Labs for curriculum development. Chevron's commitment to STEM has empowered over 100,000 individuals through educational initiatives, showcasing its investment in future problem solvers.
Chevron is developing the Hayhurst Solar Power Facility in New Mexico, a joint venture with Algonquin Power & Utilities Corp. The solar array spans 120 acres and will produce 20 megawatts of energy daily, supporting Chevron's operations in the Permian Basin. This initiative aims to reduce the carbon intensity of Chevron's operations and enhance energy efficiency. The solar array is expected to be operational by the end of 2022, with Algonquin managing the facility and Chevron purchasing the generated solar energy.
Chevron Corporation (NYSE: CVX) has scheduled its annual investor day on February 28, 2023, at 8:30 a.m. ET. The meeting will feature presentations and a Q&A session led by the executive team, including CEO Mike Wirth and other key executives. Attendees will gain insights into Chevron's business strategy and future directions. Interested parties can access the live webcast and details via www.chevron.com. Chevron remains committed to providing affordable and sustainable energy while focusing on reducing carbon intensity in its operations.
Chevron Corporation (CVX) reported a fourth quarter 2022 earnings of $6.4 billion ($3.33 per share), up from $5.1 billion in Q4 2021. Adjusted earnings were $7.9 billion ($4.09 per share), compared to $4.9 billion ($2.56 per share) in the previous year. The company achieved a record cash flow from operations of $49.6 billion in 2022, with full-year earnings totaling $35.5 billion, up from $15.6 billion in 2021. U.S. production increased to a record 1.2 million barrels per day, while the company allocated $11 billion to dividends and $11.25 billion to share repurchases.
Chevron Corporation (NYSE: CVX) has appointed Mark A. Nelson as vice chairman and executive vice president, Strategy, Policy & Development, effective February 1, 2023. Nelson, who previously served as executive vice president of Downstream & Chemicals and in other leadership roles, will continue to oversee Chevron’s Strategy & Sustainability, Corporate Affairs, and Business Development functions. CEO Michael K. Wirth praised Nelson’s significant contributions and results-driven approach, indicating his role is essential for executing the company’s strategy. Chevron remains focused on sustainable energy solutions while maintaining its core operations.
The Board of Directors of Chevron Corporation (NYSE: CVX) declared a quarterly dividend of $1.51 per share, marking a 6% increase from the previous dividend. This dividend will be payable on March 10, 2023, to shareholders on record by February 16, 2023. Additionally, the Board authorized a significant share repurchase program totaling $75 billion, which replaces a prior $25 billion authorization and will commence on April 1, 2023. This marks Chevron's 36th consecutive year of increasing its annual dividend payout, reflecting the company's commitment to enhancing shareholder value.
Raven SR, Chevron, and Hyzon Motors announced a collaboration to operate a green waste-to-hydrogen production facility in Richmond, California. This facility aims to divert 99 wet tons of organic waste daily, producing 2,400 metric tons of renewable hydrogen annually. Scheduled for commercial operations in Q1 2024, the project aligns with California's SB 1383 mandates and is expected to reduce 7,200 metric tons of CO2 emissions each year. Chevron will market the hydrogen in Northern California, supporting a transition to zero-emission vehicles.