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Ballyhooed U.S. Deepwater Oil, Gas Prospect Set to Sail, Say Chevron, TotalEnergies

Ballyhooed U.S. Deepwater Oil, Gas Prospect Set to Sail, Say Chevron, TotalEnergies

The Ballymore oil and natural gas project in the deepwater Gulf of Mexico (GOM), which would be developed using a three-mile subsea tieback to reduce costs, has gotten a thumb’s up to proceed.  The Mississippi Canyon prospect, with design capacity of 75,000 b/d of crude oil, would be tied back to the Chevron-operated Blind Faith…

May 19, 2022
Talos, Carbonvert Bring Chevron Aboard to Propel CCUS Project Offshore Texas

Talos, Carbonvert Bring Chevron Aboard to Propel CCUS Project Offshore Texas

Talos Energy Inc. and Carbonvert Inc. are in talks with Chevron Corp. to join them in advancing a carbon capture hub southeast of Houston near the massive petrochemical complex. Houston-based Talos, whose upstream exploration is focused in the Gulf of Mexico, is developing several carbon capture, sequestration and utilization (CCUS) projects for the Gulf Coast.…

May 10, 2022
Chevron ‘Getting The Machine Running Again’ in Permian, Pondering U.S. LNG Growth

Chevron ‘Getting The Machine Running Again’ in Permian, Pondering U.S. LNG Growth

The sharp upturn in energy demand, which has escalated since Russia invaded Ukraine, has created a big opening for Chevron Corp. to ramp up once again in the massive Permian Basin and ponder whether it’s time to invest in U.S. liquefied natural gas (LNG), CEO Mike Wirth said Friday. In sharing the 1Q2022 results, Wirth…

April 29, 2022
Global Markets – Not U.S. E&Ps – Sending Pump Prices Higher, Say Top Energy Execs

Global Markets – Not U.S. E&Ps – Sending Pump Prices Higher, Say Top Energy Execs

U.S. oil and natural gas producers don’t set global commodity prices, nor are they attempting to gouge consumers, executives of the leading domestic explorers told Congress on Wednesday. Top executives of BP America Inc., Chevron Corp., Devon Energy Corp., ExxonMobil, Pioneer Natural Resources Co. and Shell USA Inc. discussed the reasons for sustained high prices…

April 6, 2022
TotalEnergies Vows to Withhold Capital in Russia Following ‘Military Aggression’ in Ukraine

TotalEnergies Vows to Withhold Capital in Russia Following ‘Military Aggression’ in Ukraine

The energy industry on Tuesday continued its condemnation of Russia’s unprovoked invasion of Ukraine, with TotalEnergies SE joining BP plc, Equinor ASA and Shell plc in withdrawing capital for new projects. Shunning Russia has been nearly universal, with the western energy majors, some with large interests in the country, pulling back resources. ExxonMobil was one…

March 1, 2022
Chevron CEO Applauds Strongest Quarter Since 2014, Eyes Gorgon LNG ‘Uplift’ in 2022

Chevron CEO Applauds Strongest Quarter Since 2014, Eyes Gorgon LNG ‘Uplift’ in 2022

Natural gas and oil resources can be produced in many areas today at lower than current breakeven commodity prices, allowing operators to develop their portfolios and haul in strong cash flow, Chevron Corp. CEO Mike Wirth said Friday. Wirth and CFO Pierre Breber held court with financial analysts to discuss the quarterly and full-year 2021…

January 28, 2022
Chevron Hikes Capex by 20%, Driven by U.S. Upstream, Downstream

Chevron Hikes Capex by 20%, Driven by U.S. Upstream, Downstream

Chevron Corp. expects to spend 20% more in 2022 on capital and exploratory efforts than it did this year to support “higher returns and low carbon” efforts, the supermajor said. Organic capital expenditures (capex) in the coming year are set at $15 billion, at the low end of its $15-17 billion initial budget plan but…

December 2, 2021
Chevron Updates 2050 Net-Zero Targets, Sees Australian LNG a Keeper Longer Term

Chevron Updates 2050 Net-Zero Targets, Sees Australian LNG a Keeper Longer Term

Chevron Corp. is aiming by 2050 to reach net-zero carbon in its equity upstream operations, with more capital set to be poured into alternative energies and improved efficiencies across the traditional global oil and natural gas businesses. The San Ramon, CA-based integrated major has adopted a net-zero pledge within 30 years for Scope 1 (direct)…

October 12, 2021
Chevron Tripling Low-Carbon Spending to Expand Opportunities, Entice New Customers

Chevron Tripling Low-Carbon Spending to Expand Opportunities, Entice New Customers

Using the financial muscle of its global natural gas and oil portfolio, Chevron Corp. is tripling its investments in low-carbon ventures with an eye on becoming a force in renewable fuels, hydrogen, carbon capture and offsets. The nation’s No. 2 oil producer on Tuesday pledged to earmark $10 billion in capital spending for low-carbon opportunities…

September 15, 2021
U.S. RNG Market Expanding as BP, Chevron Snag More Supply Agreements

U.S. RNG Market Expanding as BP, Chevron Snag More Supply Agreements

BP plc has clinched an agreement to purchase a unique blend of renewable natural gas (RNG) initially for customers in California. Maryland-based CleanBay Renewables said it would provide BP with RNG produced from poultry litter, a mixture of manure, feathers and bedding. The biogas is processed into RNG and can be used to fuel vehicles.…

August 24, 2021
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