Chevron said on Saturday that it will be making operational adjustments to its 285,000 barrel-per-day El Segundo refinery to meet Southern California's fuel demands after a large fire erupted on Thursday night at the refinery.
Chevron is selling a collection of pipeline assets in the Denver-Julesburg shale basin that are likely to fetch more than $2 billion, people familiar with the matter said.
Emergency services are actively responding to a fire at Chevron's El Segundo plant in California.
Chevron and Exxon Mobil are at the forefront of oil companies that can still capitalize even with crude prices below the threshold for peak profitability.
So far, much of the inflation discussion has focused on tariffs and trade policies. However, the price of oil is a more obvious sign that inflation may be moving higher.
Chevron Corporation's current valuation is attractive, largely driven by oil supply and oil price uncertainties. The market is overly concerned about oil uncertainties, and the natural gas catalyst is not priced in. A colder-than-average winter is expected to boost U.S. natural gas demand, supporting higher NG prices and benefiting CVX's profits.
Chevron Corporation remains a strong buy with robust fundamentals, reasonable valuation, and upside potential despite a recent 20% price surge. CVX's acquisition of Hess Corporation and expansion in Guyana position it for sustained growth, offsetting concerns about Permian Basin production plateau. Natural gas demand, driven by global data center expansion, and prudent cost management further bolster CVX's topline and margin resilience.
CVX enters lithium with a 125,000-acre Smackover acquisition, aiming to scale production and diversify its energy portfolio.
CVX sees a $200M-$400M Q3 earnings hit from Hess integration, but expects strong future gains from the deal.
Chevron (CVX) reached $159.18 at the closing of the latest trading day, reflecting a +1.12% change compared to its last close.
CVX's growth from Hess and steady dividends face off against EPD's stable midstream payouts and near-7% yield in this dividend showdown.
CVX, Anadarko and Westlawn join forces in Peru's Trujillo basin, aiming to spark an energy revival with seismic studies and billion-dollar investments.