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.
The Board of Directors of Chevron Corporation declared a quarterly dividend of $1.29 per share, set for payment on March 10, 2021. This dividend will benefit all common stockholders recorded on the transfer records as of February 17, 2021. This announcement reflects Chevron's commitment to returning value to its shareholders.
Chevron Corporation (NYSE: CVX) has made a Series C investment in Blue Planet Systems Corporation, a startup that specializes in carbonate aggregates and carbon capture technology. This investment highlights Chevron's commitment to advancing carbon capture and utilization technologies as part of its lower-carbon solutions strategy. Chevron and Blue Planet plan to explore collaboration opportunities for pilot projects and commercial developments that leverage Blue Planet's innovative technology, which captures CO2 from flue gas without requiring purification.
Chevron Corporation (NYSE: CVX) is set to hold its quarterly earnings conference call on January 29, 2021, at 11:00 a.m. ET (8:00 a.m. PT). Key speakers include Mike Wirth, CEO, and Pierre Breber, CFO. Participants can dial in using the provided numbers or access the live webcast at www.chevron.com. This event is significant as it will provide insights into Chevron’s financial performance and future outlook.
Chemron Corporation (NYSE:CVX) and Chevron U.S.A. Inc. announced the early participation results of their exchange offers for Noble Energy's Old Notes. As of December 16, 2020, significant principal amounts of various series of Old Notes have been validly tendered. The offers include a total consideration of new CUSA Notes, with an early participation premium of $30 per $1,000 principal amount. The expiration date for participation is extended to January 4, 2021. The offerings seek to amend relevant indentures and provide holders with new, unsecured, unsubordinated debt guaranteed by Chevron.
Chevron Corporation announced a $14 billion organic capital and exploratory spending program for 2021, reducing long-term guidance to $14 to $16 billion annually through 2025. The company aims to enhance long-term value and returns, dedicating over $300 million in 2021 to advance energy transition. The revised guidance is notably lower than the previous $19 to $22 billion. Significant allocations include $5 billion for U.S. upstream and $6.5 billion for international upstream projects. Chevron emphasizes its commitment to maintaining dividends amidst market challenges.
Chevron Corporation (CVX) and Chevron U.S.A. Inc. have initiated exchange offers for ten series of notes from Noble Energy, Inc. The exchange involves validly tendered Old Notes for new CUSA Notes guaranteed by Chevron. A registration statement was filed with the SEC on December 3, 2020, and the exchange offers are set to expire on January 4, 2021. Early participants may receive an extra $30 per $1,000 principal amount. The exchange is aimed at altering restrictive covenants in existing Noble Indentures. No accrued interest will be paid on Old Notes during this exchange.
Chevron Corporation (NYSE: CVX) has announced the appointment of Al Williams as vice president of corporate affairs, effective March 1, 2021, and Paul Antebi as vice president and general tax counsel, effective February 1, 2021. Williams succeeds Dale Walsh, who retires after 38 years, bringing extensive international experience. Antebi takes over from C.N. Macfarlane, who served for 36 years. These leadership changes occur amid increasing regulatory and social complexities, enhancing Chevron's strategic positioning in the energy sector.
Chevron Corporation (NYSE: CVX) has elected Marillyn A. Hewson to its board of directors, effective January 1, 2021. Hewson previously served as the chairman, president, and CEO of Lockheed Martin, bringing over 35 years of experience in global business and international commerce. She will also join the Audit Committee of the Board. Chevron's CEO, Michael Wirth, emphasized that Hewson's extensive expertise will enhance the company’s operations and add valuable perspectives. Chevron continues to be a leader in the integrated energy sector, engaging in various activities ranging from oil exploration to technology development.
Chevron Corporation (NYSE: CVX) reported a third-quarter 2020 loss of $207 million ($(0.12) per share), down from a profit of $2.6 billion in Q3 2019. The decline was driven by lower commodity prices and decreased operational revenue of $24 billion, compared to $35 billion a year earlier. Adjusted earnings were $201 million ($0.11 per share), significantly lower compared to $2.9 billion in 2019. The company continues to focus on capital discipline and cost management, reducing capital expenditures by 48% and operating expenses by 12% year-over-year. Production decreased 7% to 2.83 million barrels per day.
Chevron Corporation (NYSE: CVX) announced a quarterly dividend of $1.29 per share, reflecting the company's commitment to returning value to shareholders. This dividend is payable on December 10, 2020, to shareholders recorded by the close of business on November 18, 2020. This consistent dividend policy underscores Chevron's financial strength and operational stability amidst market fluctuations.