Chevron Corporation

Chevron Earns Top Marks on Corporate Equality Index for 18th Consecutive Year

Retrieved on: 
Thursday, December 14, 2023

Chevron Corporation (NYSE: CVX) today announced the company received a score of 100 on the Human Rights Campaign Foundation’s 2023-2024 Corporate Equality Index (CEI) for the 18th consecutive year.

Key Points: 
  • Chevron Corporation (NYSE: CVX) today announced the company received a score of 100 on the Human Rights Campaign Foundation’s 2023-2024 Corporate Equality Index (CEI) for the 18th consecutive year.
  • Chevron is among other major U.S. businesses that received a CEI rating of 100 points along with the new Equality 100 Award: Leaders in LGBTQ+ Workplace Inclusion, a distinction recognizing companies that meet or exceed elevated criteria focused on four central pillars:
    “Chevron is extremely proud to be recognized by the Human Rights Campaign Corporate Equality Index for the 18th consecutive year,” said Josetta Jones, Chevron’s chief diversity and inclusion officer.
  • “We strive to create a workplace where all employees feel safe, heard and respected.
  • While no place can be perfect, it is wonderful to have our efforts validated.

Energy in Focus: EV, Oil & Solar Among Most Shorted Stocks in November, Finds Hazeltree Shortside Crowdedness Report

Retrieved on: 
Wednesday, December 13, 2023

During the month of November, the electric vehicle sector regained its position at the top, while oil and solar remained steady frontrunners, with multiple stocks among the 10 most shorted in their categories based on their Hazeltree crowdedness score.

Key Points: 
  • During the month of November, the electric vehicle sector regained its position at the top, while oil and solar remained steady frontrunners, with multiple stocks among the 10 most shorted in their categories based on their Hazeltree crowdedness score.
  • In the small-cap category, solar energy company Sunnova Energy was the most crowded security (99).
  • “November’s report shows a continued focus from alternative asset managers on shorting energy stocks in the Americas,” said Stephanie Miller, CEO of Hazeltree.
  • To view Hazeltree’s November Shortside Crowdedness Report and past reports, click here .

Chevron Plans $16 Billion in 2024 Capex, Led by U.S. Upstream

Retrieved on: 
Friday, December 8, 2023

In addition, about 25% of U.S. upstream capex is allocated for projects in the Gulf of Mexico, including the Anchor Field development--which Chevron expects will achieve first oil in 2024. The multi-phase project includes a $1.5 billion platform about 140 miles off the coast of Louisiana, a $500 million drilling program featuring seven wells, and about $500 million in subsea infrastructure. The Anchor development is expected to produce about 75,000 barrels per day (BBL/d) of crude oil and natural gas.

Key Points: 
  • Researched by Industrial Info Resources -- Chevron Corporation ( NYSE:CVX ) (San Ramon, California) has announced an organic capital expenditure (capex) budget of $16 billion for 2024.
  • The spend includes $14 billion for upstream spending, two-thirds of which is allocated to the U.S. Industrial Info is tracking $30 billion worth of active Chevron projects worldwide, including $18 billion worth in the U.S.
  • The $16 billion in projected capex for 2024 is up from the $14 billion projected last year for 2023.
  • In addition, about 25% of U.S. upstream capex is allocated for projects in the Gulf of Mexico, including the Anchor Field development--which Chevron expects will achieve first oil in 2024.

Chevron Announces $16 billion 2024 Capex Budget

Retrieved on: 
Wednesday, December 6, 2023

Chevron Corporation (NYSE: CVX) today announced an expected organic capital expenditure range of $15.5 to $16.5 billion for consolidated subsidiaries (capex) and an affiliate capital expenditure (affiliate capex) budget of approximately $3 billion for 2024.

Key Points: 
  • Chevron Corporation (NYSE: CVX) today announced an expected organic capital expenditure range of $15.5 to $16.5 billion for consolidated subsidiaries (capex) and an affiliate capital expenditure (affiliate capex) budget of approximately $3 billion for 2024.
  • Downstream capex is expected to be roughly $1.5 billion, with 80 percent allocated to the United States.
  • Included in the upstream and downstream budgets is approximately $2 billion in lower carbon capex to lower the carbon intensity of traditional operations and grow new energy business lines.
  • Following closing of the acquisition, Chevron’s annual capex budget is expected to be between $19 and $22 billion.

Malta Closes Funding to Deploy Its Long-Duration Energy Storage System

Retrieved on: 
Wednesday, November 29, 2023

Malta Inc., a leader in long-duration energy storage, today announced that it has closed on a round of financing provided by a group of investors including Siemens Energy Ventures and Alfa Laval as well as existing shareholders Breakthrough Energy Ventures, Proman, Chevron Technology Ventures, and Piva Capital.

Key Points: 
  • Malta Inc., a leader in long-duration energy storage, today announced that it has closed on a round of financing provided by a group of investors including Siemens Energy Ventures and Alfa Laval as well as existing shareholders Breakthrough Energy Ventures, Proman, Chevron Technology Ventures, and Piva Capital.
  • Malta’s grid-scale, long-duration energy storage system helps governments, utilities, and grid operators transition to low-cost, carbon free renewable energy while enhancing energy security.
  • Alfa Laval is contributing with its innovative heat exchanger technology that will be vital to enable commercially viable long-duration energy storage, fundamental for the decarbonization of the renewable energy sector.
  • Alfa Laval is proud to continue and further strengthen our collaboration with Malta and our partners to accelerate the energy solutions required to reach net zero.”

Global Polyolefin Market Size, Share & Trends Analysis Report 2023-2033: Industry Growth Fueled by Weight Reduction in Automotive Applications - ResearchAndMarkets.com

Retrieved on: 
Wednesday, November 29, 2023

The global polyolefin market is anticipated to reach USD 357.3 billion by 2030.

Key Points: 
  • The global polyolefin market is anticipated to reach USD 357.3 billion by 2030.
  • The market is poised for growth due to increasing adaptation across the end-use industries.
  • The polyethylene (PE) led the market for market across the product segmentation and accounted for a revenue share of over 38.0% in 2022.
  • The film & sheet led the market for market across the application segmentation and accounted for a revenue share of over 25.0% in 2022.

Global LNG Market Poised for Growth, Aiding Environmental Goals and Energy Needs - ResearchAndMarkets.com

Retrieved on: 
Monday, November 13, 2023

The development of LNG import infrastructure, such as regasification terminals and distribution networks, has facilitated global access to LNG.

Key Points: 
  • The development of LNG import infrastructure, such as regasification terminals and distribution networks, has facilitated global access to LNG.
  • Growing demand for cleaner energy sources, particularly in Asia, incentivizes higher LNG production to meet energy needs and emissions reduction goals.
  • Import and Export: Japan dominates the global LNG import market, while Australia leads in LNG exports.
  • Additionally, long-term LNG supply contracts play a crucial role in the LNG market, providing stability and predictability for both buyers and sellers.

Hess Announces First Production from Payara Development, Offshore Guyana

Retrieved on: 
Tuesday, November 14, 2023

Hess Corporation (NYSE: HES) today announced startup of production from the Payara development on the Stabroek Block offshore Guyana, utilizing the Prosperity floating production, storage and offloading (FPSO) vessel.

Key Points: 
  • Hess Corporation (NYSE: HES) today announced startup of production from the Payara development on the Stabroek Block offshore Guyana, utilizing the Prosperity floating production, storage and offloading (FPSO) vessel.
  • The operator is currently working with the government of Guyana to secure regulatory approvals for a sixth project at Whiptail.
  • Hess Guyana Exploration Ltd. holds 30 percent interest and CNOOC Petroleum Guyana Limited holds 25 percent interest.
  • Hess Corporation is a leading global independent energy company engaged in the exploration and production of crude oil and natural gas.

Natural Gas Liquids (NGLs) Market size to grow by USD 19.62 billion from 2023 to 2028; Growth Driven by Increasing renewable energy demand - Technavio

Retrieved on: 
Wednesday, December 6, 2023

NEW YORK, Dec. 6, 2023 /PRNewswire/ -- The natural gas liquids (NGLs) market is expected to grow by USD 19.62 billion from 2023 to 2028, according to Technavio.

Key Points: 
  • NEW YORK, Dec. 6, 2023 /PRNewswire/ -- The natural gas liquids (NGLs) market is expected to grow by USD 19.62 billion from 2023 to 2028, according to Technavio.
  • Increasing renewable energy demand is notably driving the natural gas liquids (NGLs) market.
  • The natural gas liquids (NGLs) market is fragmented, and companies are deploying organic and inorganic growth strategies to compete in the market.
  • The gasoline as a fuel market size is estimated to grow at a CAGR of 1.06% between 2022 and 2027.

Ionomr Innovations closes USD$20M Series A-4 Financing with broad industry participation

Retrieved on: 
Tuesday, December 5, 2023

"We are delighted to receive the financial support of industry players that represent the full spectrum of the hydrogen ecosystem," said Bill Haberlin, CEO of Ionomr Innovations.

Key Points: 
  • "We are delighted to receive the financial support of industry players that represent the full spectrum of the hydrogen ecosystem," said Bill Haberlin, CEO of Ionomr Innovations.
  • "The participation of leaders across our industry underscores that Ionomr is delivering proven competitive advantages to our customers and their system users.
  • Green hydrogen production, hydrogen fuel cells and efficient carbon utilization are critical to reducing emissions in hard-to-decarbonize heavy industries such as steel making, chemical production, long-term seasonal energy storage, heavy-duty transport, aviation and shipping.
  • Ionomr's superior materials can make more efficient, cost-competitive solutions possible, including eliminating expensive precious metal requirements from hydrogen production, CO2 electrolysis and supporting higher-temperature fuel cell solutions.