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Natural Gas Flowing from Chevron’s Alen Project Offshore Equatorial Guinea

Natural Gas Flowing from Chevron’s Alen Project Offshore Equatorial Guinea

The Alen Gas Monetization Project offshore Equatorial Guinea, with capacity to move 930 MMcfe/d, has achieved its first natural gas flows, Chevron Corp. said Friday. The project, overseen by Chevron’s Noble Energy EG Ltd., runs 70 kilometers (43.5 miles) from the field in the Douala Basin. Processing is done at existing onshore facilities, maximizing how…

February 26, 2021
Chevron, Pavilion Agree to LNG Supply Deal Detailing Emissions to Produce and Deliver Cargoes

Chevron, Pavilion Agree to LNG Supply Deal Detailing Emissions to Produce and Deliver Cargoes

An affiliate of Chevron Corp. has signed a deal to supply liquefied natural gas (LNG) that requires it to detail the emissions generated to produce and deliver the cargoes as more countries scrutinize their energy consumption and climate impacts.  Chevron U.S.A. Inc. has agreed to supply Pavilion Energy Trading & Supply Pte. Ltd. with 500,000…

February 22, 2021
Under Pressure, ExxonMobil Ups Ante Against Global Warming, Promises to Contain Overall Costs

Under Pressure, ExxonMobil Ups Ante Against Global Warming, Promises to Contain Overall Costs

ExxonMobil on Tuesday pledged $3 billion to lower emissions in a bid to bolster its environmental record even as it slashed overall capital spending and vowed to safeguard its dividend. Executives, while declining to directly address a news report that ExxonMobil and fellow supermajor Chevron Corp. had discussed a potential tie-up, also said they continue…

February 2, 2021
Chevron CEO Cautious on Biden Climate Actions, but ‘Onerous’ Conditions May Push Investments Overseas

Chevron CEO Cautious on Biden Climate Actions, but ‘Onerous’ Conditions May Push Investments Overseas

Chevron Corp. CEO Mike Wirth on Friday was optimistic that the supermajor could navigate near-term under a potential cap on federal leasing in the United States but he warned that if conditions were to deteriorate, “we have other places to take our dollars.” Wirth helmed a conference call with CFO Pierre Breber on Friday to…

January 29, 2021

Asia LNG Rally Continues with Cargo Bid at $26-Plus — The Offtake

A roundup of news and commentary from NGI’s LNG Insight Trafigura Group Pte. Ltd. has reportedly bid $26.15/MMbtu for an early February LNG cargo delivery to South Korea. The trading firm has reportedly bought cargoes on the Asian spot market at $21.70 and $20.80 in recent days for February delivery, shattering previous Japan Korea Marker…

January 7, 2021
Chevron Nears Ramp of One Gorgon LNG Train, Eyes Opportunities for Eastern Med Natural Gas

Chevron Nears Ramp of One Gorgon LNG Train, Eyes Opportunities for Eastern Med Natural Gas

Chevron Corp. continues to see lower demand for oil and natural gas from Covid-19, but it is focusing on what it can control, CEO Michael Wirth said. The San Ramon, CA-based major issued its third quarter results Friday, highlighting the completion of its takeover of Noble Energy Inc. and the startup of some alternative energy…

October 30, 2020
EQT Continues Appalachian Consolidation by Bolting on Chevron Assets for $735M

EQT Continues Appalachian Consolidation by Bolting on Chevron Assets for $735M

EQT Corp. continues adding to its massive position in the Marcellus and Utica shales, saying late Tuesday that it has acquired all of Chevron Corp.’s Appalachian assets for $735 million in a deal expected to boost operating efficiencies and free cash flow.   Expected to be completed by year’s end, the sale includes 450 MMcfe/d of…

October 28, 2020
Chevron Completes Noble Energy Acquisition

Chevron Completes Noble Energy Acquisition

Chevron Corp. said Monday that it has completed its acquisition of Noble Energy Inc. after Noble’s shareholders approved the transaction last week. Chevron in July clinched a definitive agreement in an all-stock transaction worth $5 billion that carried a total enterprise value, including debt, of $13 billion. The transaction, which at the time valued Noble…

October 5, 2020
Chevron Warns Pandemic Threatening Through September, but Common Ground in Election

Chevron Warns Pandemic Threatening Through September, but Common Ground in Election

Chevron Corp., savaged in the second quarter by the hurricane-force winds of Covid-19, warned Friday that the pandemic may choke profits through September.  The San Ramon, CA-based major posted an $8.3 billion loss (minus $4.44/share), compared with net profits a year earlier of $4.3 billion ($2.27). U.S. upstream operations lost $2.1 billion, versus year-ago earnings…

July 31, 2020
Chevron Planning to Sell Stake in Australia’s North West Shelf LNG Facility

Chevron Planning to Sell Stake in Australia’s North West Shelf LNG Facility

Chevron Corp. said Thursday it plans to sell its 16.67% interest in Australia’s North West Shelf Project, which is among the country’s largest liquefied natural gas (LNG) facilities.

June 18, 2020
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