stories

Financial Backer Of Ecuador Litigation Settles

Chevron Corporation has reached a settlement agreement with James Russell DeLeon, the principal funder of the fraudulent lawsuit against Chevron in Ecuador.

Chevron Acquires Exploration Interests in Mauritania

San Ramon, Calif., Feb. 4, 2015 – Chevron Corporation today announced that its wholly-owned subsidiary Chevron Mauritania Exploration Limited has reached an agreement to acquire a 30 percent non-operated working interest in Blocks C8, C12 and C13 offshore Mauritania from Kosmos Energy. The transaction is subject to the approval of Mauritania’s government.

Jeanette Ourada Named Corporate VP & Comptroller

Chevron Corporation (NYSE: CVX) today named Jeanette L. Ourada as corporate vice president and comptroller effective April 1. Ourada succeeds Matthew J. Foehr, who will retire from the company March 31 after 33 years of outstanding service.

Chevron Reports $3.5 Bn 4Q Earnings $19.2 Bn 2014

30 Jan 2015 – Chevron Corporation today reported earnings of $3.5 billion ($1.85 per share – diluted) for fourth quarter 2014, compared with $4.9 billion ($2.57 per share – diluted) in the 2013 fourth quarter. Foreign currency effects increased earnings in the 2014 quarter by $432 million, compared with an increase of $202 million a year earlier.

$35.0 Billion Capital & Exploratory Budget 2015

Chevron Corporation today announced a $35.0 billion capital and exploratory investment program for 2015. Included in the 2015 program are $4.0 billion of planned expenditures by affiliates, which do not require cash outlays by Chevron. The 2015 budget is 13% lower than total investments for 2014.

Inge G. Thulin Elected to Chevron Board of Directors

Chevron Corporation announced that Inge G. Thulin has been elected to Chevron’s board of directors effective Jan. 28, 2015. He will serve on the company’s Board Nominating and Governance Committee and Management Compensation Committee.

Chevron Announces 4Q 2014 Quarterly Dividend Today

The Board of Directors of Chevron Corporation (NYSE: CVX) today declared a quarterly dividend of one dollar and seven cents ($1.07) per share.

Chevron Acquired Gulf of Mexico Deepwater Acreage

Chevron Corporation today announced its subsidiary, Chevron U.S.A. Inc., will work with BP Exploration and Production Inc. (BP) and ConocoPhillips Company (ConocoPhillips) to explore and appraise 24 jointly-held offshore leases in the northwest portion of Keathley Canyon in the deepwater Gulf of Mexico. Chevron will be the operator.

Signing The Gorgon LNG Supply Agreement

Chevron Corporation (NYSE: CVX) today announced its Australian subsidiaries have signed a binding Sales and Purchase Agreement (SPA) with SK LNG Trading Pte Ltd (SK). Under the SPA, SK LNG Trading, which is part of a leading industrial conglomerate in South Korea, will receive 4.15 million tons of LNG over a five-year period starting in 2017.

Deepwater Oil Discovery in Gulf of Mexico (October 23, 2014)

Chevron Corporation (NYSE: CVX) today announced a new oil discovery at the Guadalupe prospect in the deepwater U.S. Gulf of Mexico. The Keathley Canyon Block 10 Well No. 1 encountered significant oil pay in the Lower Tertiary Wilcox Sands. The well is located approximately 180 miles off the Louisiana coast in 3,992 feet of water and was drilled to a depth of 30,173 feet.

Deepwater Oil Discovery in Gulf of Mexico (January 6, 2015) — Chevron.com

Chevron announced a significant oil discovery at the Anchor prospect in the deepwater U.S. Gulf of Mexico. Anchor is Chevron’s second discovery in the deepwater Gulf in less than a year.

Alexander B. Cummings Jr. Elected to Chevron BOD

San Ramon, Calif., Dec. 10, 2014 – Chevron Corporation (NYSE: CVX) announced that Alexander B. Cummings Jr. has been elected to Chevron’s board of directors, and he will serve on the company’s Audit Committee.

Chevron Acquires Blocks Located Offshore New Zealand

Wellington, New Zealand, Dec. 9, 2014 – Chevron New Zealand Exploration Ltd., a Chevron Corporation subsidiary, today announced it has been granted exploration rights to three blocks located offshore New Zealand, in a frontier basin with water depths ranging from 2,600 feet (800 m) to 9,800 feet (3,000 m).

First Oil From Jack/St. Malo Project

Chevron Corporation announced that crude oil and natural gas production has begun at the Jack/St. Malo project in the Lower Tertiary trend, deepwater U.S. Gulf of Mexico.

First Oil Production From Tubular Bells

SAN RAMON, Calif., Nov. 17, 2014 – Chevron Corporation (NYSE: CVX) announced today that the Hess Corporation-operated Tubular Bells deepwater project, located in the U.S. Gulf of Mexico, has started crude oil and natural gas production.

Chevron Reports Third Quarter Net Income of $5.6 Billion

SAN RAMON, Calif., October 31, 2014 – Chevron Corporation (NYSE: CVX) today reported earnings of $5.6 billion ($2.95 per share – diluted) for third quarter 2014, compared with $5.0 billion ($2.57 per share – diluted) in the 2013 third quarter.

Chevron Announces 3Q 2014 Quarterly Dividend Today

The Board of Directors of Chevron Corporation (NYSE: CVX) today declared a quarterly dividend of one dollar and seven cents ($1.07) per share.

Stampede Project In The Deepwater Gulf Of Mexico

SAN RAMON, Calif., Oct. 28, 2014 – Chevron Corporation (NYSE: CVX) announced today that its subsidiary, Union Oil Company of California (Union), has reached a final investment decision to proceed with the development of the Hess Corporation-operated Stampede project in the deepwater U.S. Gulf of Mexico.

First Gas From Bangladesh Bibiyana Expansion

Chevron Corporation (NYSE: CVX) today announced that its Bangladesh subsidiary has commenced natural gas production from the Bibiyana Expansion Project in the northeastern part of the country.

Chevron Launches Appalachia Partnership Initiative

Chevron Corporation (NYSE: CVX) today announced the launch of the Appalachia Partnership Initiative, a $20 million effort, designed to address education and workforce development in 27 counties across southwest Pennsylvania, northern West Virginia and eastern Ohio.

Mary Francis Named Corp. Secretary & Chief Gov. Officer

SAN RAMON, Calif., Oct. 9, 2014 – Chevron Corporation (NYSE: CVX) today named Mary A. Francis corporate secretary and chief governance officer effective May 1, 2015.

Partnership For Duvernay Shale Assets In Canada

Chevron Corporation (NYSE: CVX) today announced that its indirect, wholly-owned subsidiary, Chevron Canada Limited, has reached agreement to sell a 30 percent interest in its Duvernay shale play to Kuwait Foreign Petroleum Exploration Company’s wholly-owned subsidiary, KUFPEC Canada Inc., for $1.5 billion.

Rhonda I. Zygocki Retires; Reporting Assignments

Chevron Corporation (NYSE: CVX) announced today that Rhonda I. Zygocki, executive vice president, Policy and Planning, has elected to retire from the company after 34 years of outstanding service effective Feb. 1, 2015. The company also said it is making new reporting assignments for several executives.

Expanding The Fuel Your School Program

Chevron U.S.A. Inc. today announced the launch and expansion of the 2014 Fuel Your School program, an innovative collaboration with DonorsChoose.org, an online organization that makes it easy for anyone to help students in need. In 2014, the Fuel Your School Program will generate up to $8.6 million in classroom supply funding for educators in 22 U.S. communities in 14 states where Chevron operates, with the help of local Chevron and Texaco marketers in 6 markets.

Voluntary Dismissal Of A Shareholder Derivative

SAN RAMON, Calif., August 14, 2014 –This notice relates to a proposed voluntary dismissal of a shareholder derivative action and is being given pursuant to an order of The United States District Court for the Northern District of California. The purpose of the notice is to advise Chevron shareholders that plaintiff, Stephen Bushansky, in the below referenced action wishes to voluntarily dismiss the case. Additional information on the action and right to intervene can be found below.

Chevron Reports Second Quarter Net Income of $5.7Bn

SAN RAMON, Calif., August 1, 2014 – Chevron Corporation (NYSE: CVX) today reported earnings of $5.7 billion ($2.98 per share – diluted) for second quarter 2014, compared with $5.4 billion ($2.77 per share – diluted) in the 2013 second quarter. Foreign currency effects decreased earnings in the 2014 quarter by $232 million, compared with an increase of $302 million a year earlier.

Commercial Production Begins At New Oil Plant

Chevron Corporation subsidiary Chevron U.S.A. Inc. announced that it has begun commercial production of premium base oils from a newly constructed manufacturing facility at the company’s Pascagoula refinery.

Chevron Issues Interim Update for Second Quarter 2014

Chevron Corporation today reported in its interim update that earnings for the second quarter 2014 are expected to be higher than first quarter 2014 as a result of gains on asset sales and an absence of impairments in the prior quarter.

Chevron Announces Sale of Interests in Chad and Cameroon

Chevron Corporation today announced that its subsidiary, Chevron Global Energy Inc., has sold its 25 percent non-operated interest in a producing oil concession in southern Chad and the related export pipeline interests to the Republic of Chad for approximately $1.3 billion. The sale closed June 13.