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 the launch of the Chevron Exchange Q&A Series, starting with a virtual fireside chat featuring CFO Pierre Breber on September 15, 2022. This initiative, in partnership with Say Technologies, aims to enhance investor engagement by allowing verified retail shareholders to submit and upvote questions for management. The event will address key topics concerning Chevron's strategy, business, and financial performance. The Q&A platform will remain open until 48 hours prior to the event.
Chevron Corporation (NYSE: CVX) will participate in the Barclays CEO Energy-Power Conference on September 7, 2022, at 8:00 AM ET. CEO Mike Wirth will address the company's strategy focusing on higher returns and lower carbon initiatives. Investors can access a live webcast and replay of the event at www.chevron.com/investors. Chevron remains committed to providing affordable and cleaner energy while emphasizing carbon intensity reduction in its operations.
Chevron (NYSE: CVX) announced Dr. Anoop Kumar as the new president of the National Lubricating Grease Institute (NLGI). Based in Liberty, Missouri, the NLGI focuses on lubricating grease manufacturers. Dr. Kumar, with over thirty years of experience, aims to bring change to the industry with his six strategic priorities, including sustainability and addressing the lithium shortage. He has contributed significantly to the grease sector with 29 patents and over 90 publications. Chevron congratulated Dr. Kumar, anticipating his leadership will benefit the lubricant and grease industry.
Restaurant Technologies is enhancing its sustainability by integrating refined oil biofuels from Chevron Renewable Energy Group into its fleet operations. This initiative is part of a circular economy, utilizing the used cooking oil collected from over 34,000 customers nationwide, turning it into biodiesel and renewable diesel. Initially, the fleet will operate on a B30-B50 blend, minimizing carbon footprint. Both companies aim to promote lower carbon solutions in the transportation sector, with plans for further deployment across additional depot locations.
Chevron Lubricants has launched Delo TorqForce Syn FD-1, a full synthetic lubricant aimed at enhancing the performance of large mining haul trucks and support equipment. This product is engineered to outperform conventional lubricants, offering benefits such as an expanded temperature range for all-weather performance, advanced protection against wear and oxidation, and extended service intervals, allowing oil changes to extend from 4,000 to 6,000 hours. Chevron's rigorous testing ensures reliable performance, maximizing productivity in harsh conditions.
Cheniere Energy Partners reported a second quarter 2022 net income of $342 million, down from $395 million in 2021. Adjusted EBITDA rose to $1.0 billion, a 42% increase. Revenue soared 121% to $4.18 billion. The company declared a cash distribution of $1.060 per common unit for unitholders, reaffirming a full year distribution guidance of $4.00 - $4.25. A long-term LNG agreement with Chevron was also established, with deliveries starting in 2026. However, non-cash losses in commodity derivatives affected net income significantly.
Cheniere Energy reported robust financial results for Q2 2022, achieving Consolidated Adjusted EBITDA of approximately $2.5 billion and $5.7 billion for the three and six months ended June 30, respectively. Net income was $0.7 billion for Q2, a significant recovery from a loss in Q2 2021. Full-year guidance for Consolidated Adjusted EBITDA is raised to $9.8 - $10.3 billion. The company secured long-term contracts totaling 140 million tonnes of LNG through 2050 and made a positive final investment decision on the Corpus Christi Stage 3 Project.
Chevron (CVX) and Brightmark announced the successful first delivery of renewable natural gas (RNG) from the Athena Project in Minnehaha County, South Dakota. The partnership aims to produce and market RNG from dairy biomethane, contributing to lower carbon fuel solutions. The captured methane from manure will be converted into RNG for transportation and electricity. This milestone highlights the collaboration's potential to support sustainable fuel initiatives and reduce lifecycle carbon emissions.
Chevron Corporation (NYSE: CVX) announced the appointment of Alana K. Knowles as Vice President and Controller, effective March 1, 2023. She succeeds David A. Inchausti, who will retire after 35 years with the company on February 28, 2023. Knowles has extensive experience within Chevron, having held various leadership roles since joining the company in 1988, including Vice President – Finance, Downstream & Chemicals. Chevron's CEO Michael Wirth praised her leadership skills and experience in the industry.
Chevron Corporation (NYSE: CVX) reported impressive second-quarter earnings of $11.6 billion ($5.95 per share) for 2022, up from $3.1 billion in 2021. Adjusted earnings stood at $11.4 billion, reflecting substantial growth across business segments, particularly in upstream operations with earnings of $8.6 billion. Cash flow from operations reached $13.8 billion, while free cash flow was $10.6 billion. Chevron enhanced its balance sheet, reducing its debt ratio to below 15% and raising its share repurchase target to $15 billion. The company completed its acquisition of Renewable Energy Group, reinforcing its commitment to both traditional and renewable energy investments.
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