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...Chevron’s chief executive hit back at ExxonMobil on Tuesday, expressing “surprise” at its decision to seek arbitration in a tense stand-off over a lucrative Guyana oil project....
...Chevron and Hess did not immediately respond to requests for comment....
...threatens to derail the biggest acquisition in Chevron’s history....
...If the talks did not “result in an acceptable resolution” Chevron said the merger would not close....
...Chevron’s net income of $21.4bn was down from $35.5bn the previous year, but otherwise its strongest since 2013. Read more here....
...Chevron acquisition....
...to derail the biggest acquisition in Chevron’s history....
...The move threatens to derail what is the biggest acquisition in Chevron’s history....
...In a statement on Monday a Chevron spokesperson described the talks with Exxon and Cnooc as “constructive” and said that neither Chevron nor Hess believed the right of first refusal provision applied to...
...Nevertheless, Chevron expects to operate the impacted assets for years to come. The non-cash, after tax charge is projected to be between $3.5 and $4bn in its upcoming results, Chevron said....
...Chevron on Tuesday said a deepening rift with lawmakers over energy policy in California would dent its earnings in the fourth quarter and further reduce its investment plans for its home state....
...Chevron’s fell from $6.4bn to $2.3bn....
...A year ago Chevron was flying high....
...Candidates include Shell, Total and Chevron, which are all drilling, or planning to drill, in the same Orange oil basin....
...Chevron has restored production at the Tamar offshore gasfield in Israel, the company said on Monday, ending the supply disruption caused by the start of the war on October 7....
...Shares in Chevron have fallen 13 per cent over the past 12 months....
...On Monday, Chevron announced it would buy US oil group Hess for $53bn in the biggest transaction in its history....
...The acquisition positioned Chevron to strengthen its long-term performance and further enhance its “advantaged portfolio by adding world-class assets”, Chevron chief executive Mike Wirth said....
...Chevron is hoping it has struck an equally shrewd deal with the Hess family. On Monday Chevron said it would acquire Hess Corporation, the listed oil and gas driller, at an enterprise value of $60bn....
...Chevron has shut down production in its Tamar gasfield off the coast of Israel....
...Wirth has insisted Chevron’s mega-deal wasn’t influenced by the former....
...And in acquiring Hess, Chevron will become one of the largest producers in the Bakken Formation (and gains a foothold in Guyana, where Exxon already has a leading presence)....
...“Chevron and Shell are oil majors and if they can’t get it right, who can?”...
...Australian unions and energy giant Chevron have agreed to bring an end to strikes at two important liquefied natural gas facilities in the country that threatened the global supply....
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