Monday, December 23

Tag: Chevron

Chevron Warns of Billions in Charges From California Challenges, Gulf of Mexico Assets
2Jan By adminNo Comments
World

Chevron Warns of Billions in Charges From California Challenges, Gulf of Mexico Assets

Chevron said it will book $3.5 billion to $4 billion in charges for the fourth quarter, citing challenges tied to regulations in California and previously sold oil and gas production assets in the Gulf of Mexico.Chevron said it will impair a portion of its U.S. upstream assets, mostly in California, due to regulatory challenges in the state that have led to “lower anticipated future investment levels in its business plans.” Chevron said it will continue to operate the affected assets for many years.Copyright ©2024 Dow Jones & Company, Inc. All Rights Reserved. 87990cbe856818d5eddac44c7b1cdeb8
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The Dow Jones Industrial Average Is So Back. Here Are the Stocks Sending It to New Highs.
13Dec By adminNo Comments
Money

The Dow Jones Industrial Average Is So Back. Here Are the Stocks Sending It to New Highs.

The Dow Jones Industrial Average is poised to become the first major U.S. stock index to set a record since the Federal Reserve started raising interest rates.Investors on Wednesday drove the blue-chip index up more than 225 points to 36805, after Federal Reserve officials penciled in three interest-rate cuts next year at the conclusion of their December meeting. The rally puts the benchmark on the cusp of topping its previous closing high of 36799.65 set on Jan. 4, 2022. The 30-stock index has risen for six consecutive weeks and is up 10% this year through Tuesday.Copyright ©2023 Dow Jones & Company, Inc. All Rights Reserved. 87990cbe856818d5eddac44c7b1cdeb8
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FTC Probes Chevron’s $53 Billion Deal for Hess
8Dec By adminNo Comments
World

FTC Probes Chevron’s $53 Billion Deal for Hess

The Federal Trade Commission is investigating Chevron’s $53 billion proposed deal to buy Hess, the second-biggest oil megamerger this year.  Chevron and Hess said Friday the antitrust enforcer is seeking additional information about the merger, a move signaling the commission is reviewing whether the deal could be anticompetitive under U.S. law. Copyright ©2023 Dow Jones & Company, Inc. All Rights Reserved. 87990cbe856818d5eddac44c7b1cdeb8
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Energy & Utilities Roundup: Market Talk
31Oct By adminNo Comments
World

Energy & Utilities Roundup: Market Talk

The latest Market Talks covering Energy and Utilities. Published exclusively on Dow Jones Newswires at 4:20 ET, 12:20 ET and 16:50 ET.0802 GMT – BP reported weak 3Q numbers, with a large miss to net income, partly driven by weaker gas trading, RBC Capital Markets analyst Biraj Borkhataria writes in a research note. “This may come as a surprise given commentary from peers, however notably, BP has reported exceptional gas trading results on several occasions in the last couple of years, including last quarter,” he says. Despite some solid indicators segmentally, earnings missed across all divisions, he says, adding that the downstream, customers and products business reported $2.1 billion in underlying replacement cost profit before interest and taxes versus consensus of $2.4 billion despit...
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Exxon, Chevron Look to the West in an Increasingly Uncertain World
25Oct By adminNo Comments
World

Exxon, Chevron Look to the West in an Increasingly Uncertain World

Oct. 24, 2023 11:00 pm ETListen to article(2 minutes)As the world becomes more dangerous, the two largest Western crude producers are focusing their investments closer to home. Chevron on Monday announced that it was acquiring Hess in a $53 billion deal that gives it access to one of this century’s biggest oil finds in the South American country of Guyana and allows it to double down on shale by expanding its presence to North Dakota. Both regions are established oil producers with limited geopolitical tensions, affording Chevron new reserves with fewer risks.Copyright ©2023 Dow Jones & Company, Inc. All Rights Reserved. 87990cbe856818d5eddac44c7b1cdeb8
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Stocks Gain After Major Companies Beat Wall Street Expectations
24Oct By adminNo Comments
Money

Stocks Gain After Major Companies Beat Wall Street Expectations

Makers of everything from Post-it Notes to jet engines to business software clued in Wall Street Tuesday on their 2023 outlooks. Markets were cautiously optimistic.The three major stock indexes opened in the green and didn’t look back. The Dow Jones Industrial Average edged higher 0.6%, or 205 points. The S&P 500 climbed 0.7% while the tech-heavy Nasdaq Composite rose 0.9%.Copyright ©2023 Dow Jones & Company, Inc. All Rights Reserved. 87990cbe856818d5eddac44c7b1cdeb8
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