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Chevron

All articles tagged with #chevron

business12 days ago•24 min saved

Chevron CFO: Gas Prices to Fall Slowly Amid Trump Pressure

Chevron’s chief financial officer, Eimear Bonner, said U.S. gasoline prices are likely to decline gradually as crude oil prices ease and Middle East tensions stabilize, noting a lag between oil costs and pump prices and signaling planned production growth of 7–10% this year. The remarks come as President Trump pushes an investigation into big oil for not lowering pump prices quickly enough, arguing prices should be closer to $2.25 per gallon. With the national average around $3.92/gal and crude futures easing, analysts say price declines typically take weeks due to taxes, refining and distribution costs, and market lag.

via Yahoo Finance|

#business #chevron #energy-market

business16 days ago•2 min saved

Chevron CFO Signals Gas Prices to Ease as Middle East Tensions Normalize

Chevron CFO Eimear Bonner told CNBC that U.S. gasoline prices are likely to fall as the Middle East situation normalizes, though there is a lag between oil moves and pump prices. President Trump has accused Big Oil of gouging and ordered a DoJ probe, while Chevron says majors are doing all they can and aims for 7–10% production growth this year as oil prices retreat; Brent was around $72.75 and WTI about $69.60.

via CNBC|

#big-oil #business #chevron

business19 days ago•1 min saved

Chevron inks 20-year natural-gas deal to power Microsoft's Texas AI data hub

Chevron will supply natural-gas-fueled power for Microsoft's new West Texas data center, Project Kilby, under a 20-year deal. The facility is expected to draw about 2.7 GW (roughly 2 million homes) via turbines from GE Vernova and Caterpillar, with power starting in 2028 as Microsoft expands AI-focused infrastructure.

via CNBC|

#business #chevron #data-centers

local1 month ago•32 min saved

Chevron Signs Blame State Policy for High California Gas Prices

Chevron gas stations in California have posted signs blaming state policymakers in Sacramento for high fuel prices, a message observed in the Central Valley that signals public frustration with energy policy.

via KMPH|

#california #chevron #energy-policy

politics1 month ago•4 min saved

Newsom urges Californians to skip Chevron as gas prices surge for Memorial Day

California Gov. Gavin Newsom’s office urged motorists to avoid Chevron stations over Memorial Day weekend, citing a state energy-commission analysis that Chevron prices run roughly 60–80 cents per gallon higher than unbranded fuel. With California averaging about $6.14 per gallon and a high gas tax, the move reflects ongoing tensions over oil profits and climate policies as the state contends with industry blame, refinery changes, and a global price uptick tied to geopolitics.

via ABC7 Los Angeles|

#california #chevron #gas-prices

politics1 month ago•15 min saved

Newsom urges Californians to avoid Chevron amid rising gas prices

California Gov. Gavin Newsom’s office is advising residents to avoid Chevron this holiday weekend due to high gas prices, with signs and billboards blaming Sacramento policies for the cost.

via AP News|

#california #chevron #energy-policy

politics1 month ago•39 min saved

Newsom urges Californians to skip Chevron stations during holiday weekend amid steep gas prices

California Governor Newsom's office is advising residents to avoid Chevron gas stations over the holiday weekend due to elevated fuel prices, suggesting shoppers compare prices and consider other brands to save on travel costs.

via Yahoo|

#california #chevron #fuel

business1 month ago•7 min saved

Chevron CEO Warns of Impending Physical Oil Shortages as Inventories Fall

Chevron CEO Mike Wirth warned that the global oil market could face physical shortages as stockpiles shrink and the Strait of Hormuz remains closed, pushing up crude and jet-fuel prices. Inventories are at multi-year lows (about 101 days of crude demand and 45 days of refined products), and rebuilding will take months, likely keeping prices higher through the year and potentially boosting Chevron’s near-term profits, even as the stock has lagged so far in 2026.

via The Motley Fool|

#business #chevron #mike-wirth

energy2 months ago•2 min saved

Big-3 Oil Stocks Poised to Lead What Could Be a Historic Oil Rally

The author argues that Chevron, Exxon Mobil, and ConocoPhillips stand to benefit from unprecedented Middle East oil disruptions, forecasting Brent crude could reach $150–$200 per barrel due to Strait of Hormuz closures, depleted reserves, and strong demand. With diversified assets outside the Middle East, the Big-3 are positioned for outsized profits as global supply tightens, and all three are rated as buys, with Chevron favored for its steady dividend growth and a ~3.9% yield.

via Seeking Alpha|

#chevron #energy #energy-sector

business2 months ago•2 min saved

Oil price rally belies weaker Q1 profits at Exxon and Chevron

Exxon Mobil and Chevron posted lower first-quarter profits despite oil prices surging, citing timing effects and Middle East supply disruptions. Exxon earned $4.2B (down about 46% YoY) and Chevron $2.2B (down about 37%), though both beat expectations. Excluding timing effects, Exxon’s profit would be about $8.8B, with roughly $3B of timing headwinds at Chevron. The market remains hopeful that profits will lift as disruptions ease and prices stay elevated.

via The Guardian|

#business #chevron #earnings

business2 months ago•7 min saved

Oil rally fails to lift majors as hedges bite Exxon and Chevron

ExxonMobil and Chevron posted weaker first‑quarter profits despite rising crude and gasoline prices, as hedging backfired and one‑time timing effects dented results. Exxon earned about $4.18 billion ($1 per share) but took roughly a $4 billion hit from hedge timing, while revenue topped expectations. Chevron reported $2.21 billion in quarterly profit with adjusted EPS of $1.41, beating forecasts, though GAAP results were affected by a $360 million net loss from a legal reserve and currency effects. Production slipped to about 4.6 million oil‑equivalent barrels per day, and the near‑closure of the Strait of Hormuz limited the benefits of higher prices.

via Baton Rouge Business Report|

#business #chevron #exxonmobil

business2 months ago•5 min saved

Big Oil defies White House drilling push as prices surge

ExxonMobil and Chevron refused to shift their prewar production plans despite White House calls to boost drilling amid a global energy crunch from Middle East tensions; they say their strategy remains focused on growing free cash flow rather than production. In Q1, profits fell due to hedge losses, though refinery runs stay high and production gains from Hess integration and Permian output are being pursued within their long-term plans.

via Financial Times|

#business #chevron #exxonmobil

business2 months ago•310 min saved

Oil majors brace for profits rebound as prices stay high despite Q1 dip

ExxonMobil and Chevron both reported falling first-quarter profits (Exxon net income $4.2B, down 46% YoY; Chevron $2.2B, down 37%) due to hedging losses as oil prices rose amid the Iran conflict. However, analysts expect a sharp earnings rebound later in 2026, with Exxon Q2 profits anticipated to more than double and full-year up about 46%, and Chevron Q2 profits expected to triple with a roughly 56% annual rise, supported by higher oil prices and elevated fuel costs while geopolitical tensions keep markets volatile.

via CNN|

#business #chevron #energy

politics2 months ago•5 min saved

White House mobilizes oil firms to cushion prices amid Iran standoff

White House officials, including Treasury Secretary Scott Bessent, convened with Chevron and major oil traders to discuss steps to curb a price surge if Iran-related shipping blockades persist for months, as crude nears $100 a barrel and gasoline prices reach four-year highs; talks covered domestic production, Venezuela, oil futures, natural gas, and shipping, with a goal of minimizing the impact on American consumers while sustaining pressure on Iran.

via Politico|

#chevron #energy-prices #iran

courts-and-law2 months ago•21 min saved

Supreme Court sides with Chevron, allowing environmental-damages case to proceed in federal court

The Supreme Court ruled in favor of Chevron, allowing the environmental-damages lawsuit to be heard in federal court, a decision that could affect about a dozen similar lawsuits against the oil and gas industry; the ruling carries particular resonance for Louisiana, where offshore drilling and coastal erosion shape the economy.

via The Washington Post|

#chevron #courts-and-law #environmental-damage