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 (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.
Raven SR, Chevron, and Hyzon Motors are collaborating to establish a green waste-to-hydrogen production facility in Richmond, California, set to launch commercial operations in Q1 2024. The facility will convert up to 99 tons of organic waste daily into renewable hydrogen, producing 2,400 metric-tons annually, significantly reducing CO2 emissions. Chevron will market the hydrogen for transportation in Northern California, supporting the transition to zero-emission vehicles. The project emphasizes sustainability by minimizing water use and reducing reliance on grid electricity.
Chevron Corporation (NYSE: CVX) will host its quarterly earnings conference call on January 27, 2023, at 11:00 a.m. ET. Key speakers include Mike Wirth, Pierre Breber, and Roderick Green. Investors can dial in at 888-256-9157 or access the live webcast at www.chevron.com. Chevron, a leading integrated energy company, emphasizes the importance of reliable and cleaner energy solutions for a prosperous future.
Chevron Corporation (NYSE: CVX) has completed its acquisition of full ownership of Beyond6, LLC, enhancing its nationwide network of compressed natural gas stations. The deal, finalized with Mercuria Energy Trading and Beyond6 founder Andrew West, underscores Chevron's commitment to expanding its presence in the alternative energy sector.
This acquisition positions Chevron to better serve the growing demand for cleaner energy solutions while aligning with its strategy of increasing lower carbon businesses.
Chevron, through its New Energies division, has led a $318 million Series E fundraising round for Svante, aimed at accelerating carbon capture technology manufacturing. This investment supports Svante’s new filter manufacturing facility in Vancouver, designed to capture millions of tonnes of CO2 annually. Chevron's commitment to lower carbon initiatives includes a $10 billion investment plan in sustainable projects by 2028. The collaboration aims to address barriers in industrial carbon capture, enhancing Svante's capabilities in diverse sectors such as cement and steel.
Chevron Corporation (NYSE: CVX) has announced a joint venture with Baseload Capital to develop geothermal projects in the United States. This collaboration aims to identify viable geothermal prospects and advance next-generation geothermal technologies. The first project is located in Weepah Hills, Nevada, building on previous geothermal research. Chevron aims to leverage its oil and gas expertise to drive the geothermal energy sector as a sustainable power source. The partnership seeks to contribute to a lower carbon future by integrating geothermal energy into the renewable energy mix.
Chevron Corporation has announced its 2023 capital expenditure budgets totaling $14 billion for consolidated subsidiaries and $3 billion for equity affiliates. This represents a 25% increase from 2022. The budget includes $2 billion allocated to lower carbon initiatives, more than double last year's amount. Chevron's plans align with its goal to enhance returns while investing in both traditional and renewable energy sources, despite expected mid-single-digit cost inflation.