World Oil (Bloomberg) – Chevron Corp.’s discussions with Exxon Mobil Corp. and China’s Cnooc Ltd. over a prolific oil field off the shores of Guyana ended “abruptly” a few weeks ago, Chief Executive Officer Mike Wirth said. Chevron held constructive talks with Exxon and Cnooc over the Stabroek block off Guyana several months ago as part its proposed $53 billion
Yahoo Finance HOUSTON – The global natural gas market has been more fundamentally changed for the long term by Russia’s invasion of Ukraine than the oil market, Chief Executive Mike Wirth on Monday said on Monday. The conflict in Ukraine and ensuing Western sanctions upended global oil and gas markets and disrupted supplies from Russia. Europe has turned away from
Oil Price The oil industry generates around 10% returns on capital employed through the cycle, Chevron’s chief executive Mike Wirth told Bloomberg Television, pushing back on the persistent accusations by the Biden Administration that oil companies are profiteering from the surge in prices after the Russian invasion of Ukraine. “Through the cycle, it’s an industry that generates 10%-ish returns on
Oil Price Chevron CEO Mike Wirth spoke at the Economic Club of New York on Thursday to warn about the Biden administration’s cunning plan to refill the Strategic Petroleum Reserve around the $70 a barrel level. He said filling the SPR at that level is “not necessarily a wise move.” Wirth explained the SPR should be refilled regularly to maintain
CNBC Chevron Chairman and CEO Mike Wirth told CNBC on Wednesday the oil company’s lower-carbon investments focus on areas such as renewable natural gas and hydrogen because it sees significant potential to create shareholder value. “One of the things we’ve chosen not to go into is wind and solar,” Wirth said in a “Mad Money” interview. “These are technologies that are relatively mature.
