Chevron has shut in its Blind Faith platform in the U.S. Gulf of Mexico and evacuated all personnel from the facility in preparation for Hurricane Milton, the supermajor said on Monday.
The joint venture (JV) between Nigeria National Petroleum Co. Ltd. (NNPC) and Chevron Corp. is targeting to reach production of 165,000 barrels of oil per day (bopd) by the end of 2024 after converting their licenses under the terms of the Petroleum Industry Act (PIA)
The Nigerian National Petroleum Company Limited and its joint venture partner, Chevron Nigeria Ltd, have completed the conversion of five joint venture assets in compliance with the Petroleum Industry Act of 2021.
An oil production breakthrough that producers say can safely tap ultra-high pressure fields could put up to 5 billion barrels of previously inaccessible crude into production, analysts said.
With oil, gas, and liquefied natural gas (LNG) still running the global energy show as the crown jewels within the ebbs and flows in the worldwide energy demand, the European and U.S. oil majors – the UK’s duo Shell and BP, France’s TotalEnergies, and Italy’s Eni alongside U.S.-based trio: ExxonMobil, Chevron, and ConocoPhillips – have collected a staggering $31.65 billion in combined profit during the second quarter of 2024. BP, Shell, Eni, ExxonMobil, and Conoco Phillips are among the lucky ones, which beat analysts’ expectations. However, TotalEnergies and Chevron got the shorter end of the stick with their financial performance falling below forecasts.
QatarEnergy has signed an agreement with Chevron to acquire a 20% working interest in a production sharing contract for block 5 offshore Suriname.
Chevron, the operator of Suriname’s offshore block 5, will retain a 40% interest ,while Paradise Oil Company, an affiliate of Suriname’s state oil firm Staatsolie,will own the remaining 40%.
Chevron Corporation is revolutionising offshore energy development with innovative field development optimisation tools that significantly reduce decision-making timelines from days to hours.
After receiving preliminary approval from Israel’s Energy Ministry, partners in a gas field off the coast of Israel are expected to reach a decision on the expansion of the natural gas export capacity from the field, while stepping up domestic supply. The approval is perceived to constitute the basis for launching the next step of the field’s development.
ConocoPhillips has agreed to acquire Marathon Oil in an all-stock deal valued at $17.1 billion in a bid to catch up with rivals as drillers race to secure new oil and gas wells.