Chevron Corporation is a multinational energy company engaged in all aspects of the oil and gas industry, including exploration, production, refining, and marketing of crude oil and natural gas. The company operates in various regions around the world, focusing on both conventional and unconventional resources. In addition to its fossil fuel operations, Chevron is also investing in renewable energy technologies, such as biofuels and geothermal energy, as part of its commitment to transitioning towards a more sustainable energy future. Through its extensive supply chain, Chevron provides fuels and lubricants for transportation, industrial, and commercial needs, while also prioritizing safety and environmental stewardship in its operations.
Exxon is planning a large natural gas-powered plant to supply electricity directly to data centers, incorporating technology to capture over 90% of its carbon emissions.
Chevron’s wholly-owned subsidiary Chevron U.S.A., Inc. completed a retrofit of its refinery in Pasadena, Texas. This is expected to increase product flexibility and expand the processing capacity of lighter crudes by nearly 15% to 125,000 barrels per day.
Chevron U.S.A., Inc. (CUSA), a wholly owned subsidiary of Chevron Corporation (NYSE: CVX), has completed a retrofit of its refinery in Pasadena, Texas, which is expected to increase product flexibility and expand the processing capacity of lighter crudes by nearly 15 percent to 125,000 barrels per day.
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Chevron said it expects to recognize a restructuring charge of $0.7 to $0.9 billion after-tax in Q4, with associated cash outflows over the next two years.
Chevron Corporation today announced an organic capital expenditure range of $14.5 to $15.5 billion for consolidated subsidiaries (capex) and an affiliate capital expenditure (affiliate capex) range of $1.7 to $2.0 billion for 2025.
The OPEC+ group extends production cuts until 2026, with gradual increases and extended compensation period. Analysts view this as cautious market management.
The national average price of gas has fallen for the seventh straight week to $3 per gallon, the lowest level since May 2021. The price of gas has fallen slightly, 0.6 cents from last week, and is 23.2 cents lower than a year ago.
President-elect Donald Trump’s return to office promises a significant shift in the U.S. energy landscape, focusing on reviving the liquefied natural gas sector. This ambitious agenda could likely benefit players in the industry.
