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Wood bags Gorgon gig extension
2018-05-17 - Oilfield services provider Wood has been awarded an extension of its framework agreement with Chevron Australia to provide master contractor services to the Gorgon Stage Two development located offshore Western Australia. Effective immediately, the two-year contract extends an agreement in place since 2015 and will continue t..
Chevron earnings up on higher output, prices
2018-04-27 - U.S. energy giant Chevron recorded an increase in its first quarter earnings on the back of growing production, higher prices, and foreign currency effects.  Chevron on Friday reported earnings of $3.6 billion for first quarter 2018, compared with $2.7 billion in the first quarter of 2017. According to the company, forei..
JGC, COOEC sign 5-year modules pact
2018-04-27 - Japan's JGC Corporation has signed a cooperation agreement with China’s Offshore Oil Engineering Co. (COOEC) to mutually develop projects using "the module method." JGC said on Friday that the agreement was for five years. According to JGC, both companies will cooperate in new orders for oil, gas, and chemical plants that ..
Chevron sticking to disciplined approach to spending
2018-03-06 - Oil major Chevron Corporation plans to maintain its discipline in spending during 2018 with a budget of $18 billion for the year.  Chevron on Tuesday, March 6 hosted its annual security analyst meeting in New York, where executives highlighted the company’s plans to excel in any market environment. “We intend to grow..
Shell's 4Q earnings up 147%
2018-02-01 - Oil giant Shell's 4Q CCS earnings attributable to shareholders excluding identified items were $4.3 billion for the fourth quarter 2017. This is an increase of 147 percent from the fourth quarter of 2016. The oil major said the result reflected increased contributions from all businesses, compared with 2016. Worth no..
Chevron: Wheatstone to contribute to Australia for decades
2017-12-01 - Chevron Australia and its joint venture participants have commemorated the Wheatstone project in Onslow, Western Australia, on December 1. Chevron corporation chairman and CEO John Watson was joined at the Wheatstone plant site by Western Australian Premier Mark McGowan, other government dignitaries, joint venture partners, ..
Shell sells part of its Woodside stake for $1.7 billion
2017-11-13 - Oil major Royal Dutch Shell has made an agreement to sell part of its stake in Australia's Woodside Petroleum to equity investors for $1.7 billion as part of its three-year divestment program. According to Shell's statement on Monday, Shell’s subsidiary, Shell Energy Holdings Australia Limited (SEHAL), has entered into an u..
Shell's 3Q profit soars
2017-11-02 - Oil giant Shell saw its 3Q current cost of supply (CCS) profit soar to $4 billion, up from $1.37 billion a year ago, boosted by higher contributions from Downstream, Upstream and Integrated Gas businesses. According to Shell, earnings benefited mainly from stronger refining and chemicals industry conditions, increased realize..
Chevron profit climbs to $2 billion
2017-10-27 - Oil major Chevron has joined its industry peers ExxonMobil and Total in recording a profit increase for the third quarter 2017 when compared to the prior-year period.  Namely, Chevron on Friday reported earnings of $2 billion for the third quarter 2017, compared with $1.3 billion earnings in the third quarter of 2016. I..
Chevron gives up on Great Australian Bight exploration
2017-10-13 - Chevron Australia has made a decision to discontinue the company’s Great Australian Bight exploration program. The company said on Thursday that, while the Great Australian Bight is one of Australia’s most prospective frontier hydrocarbon regions, it was not able to compete in the current low oil price environment. ..