World Oil (Bloomberg) – If you want to understand why the two largest U.S. oil companies are together spending in excess of $100 billion on acquisitions right now, look no further than the amount of crude they’re extracting from the two hottest oil fields on the planet. Exxon Mobil Corp. and Chevron Corp., which reported earnings Friday, are both predicting
World Oil Publisher’s Note: Chevron Corp, (NYSE: CVX) is confirmed for EnerCom Denver – The Energy Investment Conference on August 18-21, 2024. Register to attend. (Bloomberg) – Chevron Corp.’s venture arm launched a fund — its third — with a $500 million commitment to invest in renewable energy technologies. The Future Energy Fund III “enables Chevron to see around corners,
World Oil (Bloomberg) – Diamondback Energy Inc.’s blockbuster deal for Endeavor Energy Resources LP makes the company’s shares the best way to invest in the prolific Permian basin in Texas, according to Tortoise Capital Advisors LLC. “Diamondback will become an acquisition target in 2025 given its larger size,” Tortoise senior portfolio manager Rob Thummel said in a note Tuesday. ConocoPhillips
Nasdaq It is the end of an era for Big Oil in California, as the most populous U.S. state divorces itself from fossil fuels in its fight against climate change. California’s oil output a century ago amounted to it being the fourth-largest crude producer in the U.S., and spawned hundreds of oil drillers, including some of the largest still in
At its annual Security Analyst Meeting today, Chevron Corporation (NYSE: CVX) announced expectations to deliver leading shareholder returns through disciplined capital spending, improved cost efficiency, and continued cash flow growth over the next five years.
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