By Jennifer Hiller HOUSTON, July 31 (Reuters) - Chevron Corp on Friday reported an $8.3 billion loss in the second quarter on asset writedowns from plummeting fuel prices, a forced exit from Venezuela and expenses tied to thousands of jobs cuts. Multibillion-dollar asset writedowns have become a prominent part of second-quarter energy results as the COVID-19 pandemic crushed … [Read more...]
Chevron Planning to Cut Up to 15% of Workforce
By Kevin Crowley and Rachel Adams-Heard (Bloomberg) --Chevron Corp. is planning a 10% to 15% reduction in its global workforce this year, the biggest cut to headcount yet among global oil majors following the Covid-19 pandemic. The company aims to reduce costs to ride out the worst crude-price crash in a generation. Among other big oil companies, BP Plc is reducing senior … [Read more...]
Chevron Readying IMO-Compliant Shipping Fuel Sales
By Victoria Klesty OSLO, June 5 (Reuters) - Chevron plans to bring an IMO-compliant 0.5% sulphur shipping fuel blend to the market by the end of the third quarter, a company representative said on Wednesday. Ships will be required to use fuels with a sulphur content of no more than 0.5% from the start of 2020, down from 3.5% currently, under International Maritime … [Read more...]
Takeover Battle: Occidental Offers $57 Billion for Anadarko, Topping Chevron
By Jennifer Hiller HOUSTON, April 24 (Reuters) - Oil and gas producer Occidental Petroleum Corp on Wednesday made a $57 billion bid for Anadarko Petroleum Corp, topping Chevron Corp's $50 billion offer and sparking the first takeover battle for a major oil company in years. The surprise $76-per-share bid comes after Occidental had been trying to woo Anadarko and had made two … [Read more...]
Chevron to Acquire Anadarko in $33 Billion Energy Mega-Merger
By John Benny and Jennifer Hiller April 12 (Reuters) - Chevron Corp on Friday said it will buy Anadarko Petroleum Corp for $33 billion in cash and stock as the company doubles down on its bet on U.S. shale oil and gas production, where the surge in output has made the United States the world's largest energy producer. With oil prices surging this year, Chevron and … [Read more...]