Chevron News Updates

Besides the disruption caused by the wars in Iran and Ukraine that have driven up the cost of fuel, Exxon is also seeing strong production in its fields in Guyana and the Permian Basin.

The storm arrives at a precarious time for oil markets. A shift westward could bring more offshore production and Gulf Coast energy infrastructure into the storm’s path.

Gustavson will replace Eimear Bonner, who had been CFO since March 2024, and who will take responsibility for all of Chevron’s oil, gas and refining operations.

Chevron is finalizing a deal that will significantly expand its operations in Venezuela by adding two giant oil fields in the Orinoco Belt.

Chevron is negotiating to add two new oil fields to its operations in Venezuela, according to people familiar with the matter, Bloomberg reports.

As the conflict has dragged on, high oil prices have driven up the cost of gasoline, jet fuel and diesel, which has led to higher shipping costs.

President Trump scolded ExxonMobil and Chevron for their soaring profits, as oil prices surged amid the war in Iran he launched in February alongside Israel. 

Net income and per-share earnings surpassed the prior all-time highs achieved in 2022, when Russia’s invasion of Ukraine turned the global energy market on its head. 

BP said ConocoPhillips will acquire 42% of its stake in a venture that’s redeveloping Iraq’s giant Kirkuk oil fields, a major revival target for the OPEC heavyweight.

Chevron would not consider paying a toll to move ships through the Strait of Hormuz, CEO Mike Wirth said.