U.S. energy major Chevron has agreed that Hess CEO John Hess will not join its board in an agreement with the U.S. Federal Trade Commission to proceed with the $53 billion takeover deal, Bloomberg News reported on Thursday, citing people familiar with the matter.
CVX, EQNR, SLB, FTI and CHK emerge as the energy headline makers during the week.
Zacks.com users have recently been watching Chevron (CVX) quite a bit. Thus, it is worth knowing the facts that could determine the stock's prospects.
Chevron on Wednesday said it is shutting in production at Chevron-operated Gulf of Mexico facilities due to approaching hurricane Helene.
WMB, CVX and KMI present an opportunity for long-term stability and reliable returns in the volatile energy space.
CVX and WRTBY unite to lower methane emissions in LNG carriers with innovative engine conversions, setting new standards in the marine industry.
Chevron Corp said on Monday that nonessential personnel were being transported from their Gulf of Mexico facilities due to the tropical disturbance in the Gulf of Mexico.
Challenger Energy Group PLC (AIM:CEG, OTC:BSHPF) shares gained around 10% on Monday, boosted by the news that its farm-out deal with Chevron in Uruguay was nearing approval in the South American country. It struck the deal with Chevron back in the first quarter of the year, and it has supported the share price to the tune of 34% in the year-to-date.
CVX shifts strategy, focusing on direct gas sales instead of U.S. LNG plant investment and leveraging partnerships amid regulatory challenges.
Challenger Energy Group PLC (AIM:CEG, OTC:BSHPF) farm-out to Chevron in Uruguay is advancing, after the deal has now received a key approval. The company, in a statement, said that on 19 September the proposed transaction was approved by ANCAP, the Uruguayan state-owned oil company with regulatory responsibility for offshore licences.
Chevron has the balance sheet to weather energy industry cycles while continuing to pay investors well. Plains All American generates steady fee-based income as oil flows through its critical infrastructure network.
Gasoline prices are down again due to global demand concerns. The average US retail gas price is $3.3, down from nearly $3.8 in May. This year, energy is the worst-performing sector, as investors view oil as cyclical after 2008 and 2020 despite its historically non-cyclical pattern. The Federal Reserve's surprisingly quick dovish shift and geopolitical should encourage investors to look toward supply side inflation hedges.