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 reports news across its integrated energy operations, including crude oil and natural gas production, refining, transportation fuels, lubricants, petrochemicals, additives, and energy technologies. Company updates commonly cover quarterly earnings, cash flow, shareholder returns, upstream production volumes, downstream refining throughput, commodity-price effects, legal reserves, and operating conditions across its global asset base.
Chevron news also reflects governance and capital-structure topics, material agreements, and strategy around growing oil and gas, lowering the carbon intensity of operations, and developing new energies businesses.
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 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.
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.
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.