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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. ..
Chevron, Woodside acquire blocks offshore Australia
2017-10-05 - Australian entity of oil major Chevron has acquired exploration interests in three offshore blocks located in the Northern Carnarvon Basin off Western Australia. Chevron Australia said on Thursday that it acquired an interest in blocks WA-528-P, WA-529-P, and WA-530-P which cover 23,170 square kilometers. The three blocks..
Chevron lining up Watson replacement?
2017-08-24 - Chevron CEO John Watson is reportedly set to be replaced at a board meeting next month, according to the media reports. The news was first reported this week by The Wall Street Journal. Also, Financial Times has, citing a person familiar with the matter, reported that Watson, 60, could be replaced by the company's head of mid..
A long time coming: Offshore project sanctioning
2017-08-07 - By Clarksons Research Now that half the year has passed, a review of offshore project sanctioning might be timely. Activity has picked up in 2017, especially for larger projects with CAPEX allocations of at least $500m. The uptick in FIDs has coincided with improved E&P budget guidance from many IOCs. So oil price volatil..
Chevron posts sharp rise in profit ahead of Wheatstone start-up
2017-07-28 - Chevron has reported a net income of $1,45 billion for the second quarter of the year, a substantial leap from a loss of $1,47 billion a year ago. The result was boosted by an $853 million contribution from the upstream segment, which in 2Q 2016 recorded a loss of $2,46 billion. “Second quarter results improved substanti..
Nigeria approves national gas plan
2017-07-05 - Nigeria's cabinet has approved the national gas policy which should help the country broaden its economy beyond oil. The petroleum ministry said on Wednesday that the gas policy would form appropriate institutional, legal, regulatory and commercial framework for the gas sector, and remove the barriers affecting investment and..
Wood Group signs ten-year master service deal with Chevron
2017-05-17 - UK-based energy services company Wood Group has signed a ten-year master services agreement (MSA) with U.S. oil major Chevron. Wood Group said on Wednesday that the new deal would allow it to deliver conceptual engineering, pre-front-end engineering design (pre-FEED), FEED, detailed design, and procurement services in multipl..
Australia offers 21 new offshore exploration areas in 2017
2017-05-15 - Australia has released 21 new offshore petroleum exploration areas in 2017. The Minister for Resources and Northern Australia, Senator Matt Canavan has revealed the latest offshore petroleum exploration areas at the 2017 APPEA Conference in Perth. The majority of the 2017 Release Areas are located along Australia's North ..
Anadarko finds more gas offshore Colombia
2017-05-03 - Colombia's Ecopetrol has informed that the Gorgon-1 exploratory well the Colombian Caribbean deep-water, showed presence of gas in zones with depths ranging between 3,675 and 4,415 meters below average sea level. The well is operated by Anadarko, a U.S. oil company. The discovery proves gas presence on a structured located in..