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.
Majed Nachawati has been appointed co-lead counsel for consolidated litigation in California regarding paraquat-based herbicides, including Gramoxone, and their alleged link to Parkinson's disease. The lawsuits target Syngenta and Chemical Co., associated with Chevron (CVX) and Phillips 66 (PSX). Plaintiffs claim exposure has caused serious health issues, prompting the litigation to hold manufacturers accountable. Studies have linked paraquat to the progressive brain disorder, emphasizing the need for transparency in product safety.
Chevron Corporation (NYSE: CVX) reported third quarter 2021 earnings of $6.1 billion ($3.19 per share), a significant turnaround from a $207 million loss in Q3 2020. Key highlights include record free cash flow of $6.7 billion and cash flow from operations of $8.6 billion. Operational improvements led to a 7% increase in worldwide net oil-equivalent production to 3.03 million barrels per day. The company reduced debt by $5.6 billion and repurchased $625 million of shares, showcasing strong performance in a favorable market environment.
The Board of Directors of Chevron Corporation (NYSE: CVX) has declared a quarterly dividend of $1.34 per share, payable on December 10, 2021, to shareholders on record as of the close of business on November 18, 2021. Chevron is a leading integrated energy company, focused on delivering affordable and reliable energy while reducing carbon intensity in its operations. The company is committed to growing its lower carbon businesses alongside its traditional energy operations.
Chevron Corporation (CVX) has announced the results of its cash tender offers for various notes, increasing the maximum purchase amount from $2 billion to approximately $2.609 billion. The offers expired on October 8, 2021, with a total of $4.187 billion in notes validly tendered. Of this, $2.589 billion has been accepted for purchase. Holders of accepted notes will receive the total consideration and accrued coupon payments. Chevron emphasizes the importance of these offers for its liquidity management.
Chevron Corporation (NYSE: CVX) has adopted a 2050 net zero aspiration for upstream Scope 1 and 2 emissions and established a new 2028 GHG intensity target for Scope 1, 2, and 3 emissions. The company is focusing on a Portfolio Carbon Intensity target, which integrates Scope 3 emissions from product usage. Chevron aims for a greater than 5% reduction in carbon emissions intensity from 2016 levels by 2028. The updated climate change report emphasizes Chevron's commitment to transparent carbon accounting and engagement with stakeholders to advance a lower carbon future.
Chevron Corporation (CVX) announced pricing terms for 23 cash purchase offers totaling $2.0 billion for outstanding notes. The Offers encompass various series of notes, including 5.250% and 6.000% notes maturing between 2041 and 2047. The calculated Total Consideration varies per series, influenced by the U.S. Treasury yield. The Offers expire on October 8, 2021, with potential extensions. Accepted notes will receive cash payments on the corresponding settlement dates, including accrued interest.
Chevron Phillips Chemical Company announces the retirement of Scott Sharp, executive vice president, effective Nov. 1, 2021, after 42 years with the company and Chevron Corporation (CVX). Sharp's contributions include overseeing joint ventures in Qatar and leading U.S. Gulf Coast expansion projects. In his place, Elliott Johnson will become senior vice president of EHS&S and Steve Prusak will expand his role to include the projects organization. The new leadership aims to continue advancing growth initiatives in the U.S. and Qatar.
Team, Inc. (NYSE: TISI) has secured a multi-year contract with Chevron Corporation (NYSE: CVX) aimed at enhancing their mechanical integrity program. This partnership will integrate Chevron's upstream assets into TEAM's OneInsight™ platform, focusing on inspection, testing, and analytics. TEAM's Chairman and CEO, Amerino Gatti, emphasized the importance of emissions compliance and maintaining wellhead integrity. The collaboration aims to leverage TEAM's technological capabilities to offer comprehensive integrity services, addressing the growing demand in the upstream sector.
Chevron Corporation (NYSE: CVX) has initiated offers to purchase up to $2 billion of outstanding notes across 23 separate series. The acceptance of notes will follow specific priority levels, with no proration. The offers are conditioned on meeting the Maximum Purchase Condition and are set to expire on October 8, 2021. Holders whose notes are accepted will receive a Total Consideration plus accrued interest on the settlement dates, expected to be October 12 and 14, 2021. The company reserves the right to waive conditions and alter the offers.
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