Tag: Chevron

Enterprise, Industries

Chevron Rides High Oil Prices to Record $35.5 Billion Annual Profit

January 27, 2023

Via: The Wall Street Journal

Chevron Corp. CVX -2.42%decrease; red down pointing triangle banked historic profit last year as the pandemic receded and the war in Ukraine pushed oil prices to multiyear highs, with its shares climbing 53% while other sectors tumbled. The U.S. oil […]

Energy, Industries

Oil giant Exxon rakes in a record $19.66B in profits

October 28, 2022

Via: ABC News

Oil companies brought in record profits once again as people worldwide struggled with high gasoline and energy prices. Exxon Mobil broke records with its profits in the third quarter, raking in $19.66 billion in net income. The Irving, Texas company […]

Energy, Industries

Chevron kicks off oil industry’s fourth quarter results with a miss

January 28, 2022


Chevron Corp on Friday reported a fourth quarter profit, which missed estimates by analysts on weaker than expected oil and gas production that outweighed gains from recovering prices. Its shares slid in pre-market trade. The first major oil company to […]

Energy, Industries

Exxon Mobil reports a $20 billion loss, fourth straight quarter in the red

February 2, 2021


Exxon Mobil said Tuesday that it lost $20.1 billion during the most recent quarter, its fourth straight quarter of losses as the energy giant continues to grapple with the pandemic’s impact on the industry. Exxon said it earned 3 cents […]

Energy, Industries

Chevron revenue plummets more than 30% in the third quarter as Covid slams demand

October 30, 2020


Chevron on Friday reported its second straight quarter of losses after revenue during the third quarter fell 32% year over year, hammered by Covid-19. Amid declining oil prices Chevron said it implemented aggressive cost-cutting measures. The oil giant lost $207 […]

Energy, Industries

Chevron Drops Out of Bidding War With Occidental for Anadarko Petroleum

May 9, 2019

Via: Fortune

Chevron Corp. is abandoning its $33 billion offer for oil driller Anadarko Petroleum Corp., the culmination of a month-long bidding war in which Occidental Petroleum Corp. prevailed over a rival five times its size. The most ambitious foray of Chevron […]

Energy, Industries

Chevron to buy Anadarko for $33 billion in play for shale oil

April 12, 2019


Chevron on Friday announced plans to acquire oil and gas exploration and production company Anadarko Petroleum in a cash and stock deal valued at $33 billion. The transaction will give the second biggest U.S. energy company a boost in shale […]

Energy, Industries

Chevron loses appeal against $260 million Australia tax bill

April 21, 2017

Via: ABC News

An Australian subsidiary of U.S. energy giant Chevron Corp. lost a court appeal on Friday against a 340 million Australian dollar ($260 million) tax bill in a ruling with ramification for how multinational corporations transfer money. Three judges of the […]

Energy, Industries

Forget the election! Oil is driving the market

October 12, 2016

Via: CNN

Donald Trump and Hillary Clinton aren’t moving the stock market. Oil is. Investing experts say that the latest moves in crude following the agreement by OPEC to freeze production is the biggest factor behind the market’s recent mini-rebound. The latest […]

Energy, Industries

Chevron Approves $37 Billion Expansion of Kazakh Oil Field

July 6, 2016

Via: The New York Times

Bucking the trend of conserving cash at a time of low oil prices, the American oil giant Chevron said on Tuesday that it would go ahead with a $37 billion expansion of a gargantuan oil field on the Caspian Sea […]

Energy, Industries

Low Oil Prices Pinch Exxon and Chevron Earnings

May 2, 2016

Via: The New York Times

The two mightiest American oil companies don’t look so mighty any more. With oil and natural gas prices at record lows and refining profit margins weakening, Exxon Mobil on Friday posted its smallest profit for any quarter since 1999, while […]