Chevron

Tear the Paper Ceiling Gains Momentum As It Celebrates First Anniversary

Retrieved on: 
Wednesday, November 1, 2023

In the first year of the initiative, Tear the Paper Ceiling corporate partners collectively opened up more than 34,000 jobs to STARs.

Key Points: 
  • In the first year of the initiative, Tear the Paper Ceiling corporate partners collectively opened up more than 34,000 jobs to STARs.
  • “The past year is only the beginning of a national effort to tear the paper ceiling.
  • Most importantly, Tear the Paper Ceiling coalition corporate partners are actively working to create more opportunities for STARs at their own companies.
  • SkyHive has integrated its AI-powered skills software with fellow Tear the Paper Ceiling Coalition member Workday’s Human Capital Management and Skills Cloud solutions.

Valero Posts $2.6 Billion 3rd Q Profit On CA Gasoline Margins 70% Greater Than Other Regions; Shows Need For Expedited Price Gouging Penalty, Consumer Watchdog Says

Retrieved on: 
Thursday, October 26, 2023

Consumer Watchdog called for the California Energy Commission to expedite the process for setting a price gouging penalty under a new law passed this year, SBx1 2.

Key Points: 
  • Consumer Watchdog called for the California Energy Commission to expedite the process for setting a price gouging penalty under a new law passed this year, SBx1 2.
  • "It is time for the state to prevent refiners from using us as one big ATM."
  • Its refining sector reported third quarter operating income of $3.4 billion, down from $3.8 billion the year before.
  • Valero reported margins on Gulf Coast at 41 cents; at 49 cents for the U.S. Mid-Continent; and 48 cents for the North Atlantic.

ALLY Energy Names 2023 GRIT Awards & Best Energy Workplace Winners

Retrieved on: 
Thursday, October 26, 2023

HOUSTON, Oct. 26, 2023 /PRNewswire-PRWeb/ -- ALLY Energy is proud to announce this year's winners for the 7th Annual GRIT Awards and Best Energy Workplaces. These awards are regarded by many as the most prestigious, significant recognition in the energy industry worldwide. Nominations are open to the public. The 58 winners were selected from shortlisted finalists that included 60 leaders, 32 teams, and 14 companies with representation across the globe in oil and gas, power and utilities, wind, solar, hydrogen, nuclear, climate tech startups, and academia.

Key Points: 
  • HOUSTON, Oct. 26, 2023 /PRNewswire-PRWeb/ -- ALLY Energy is proud to announce this year's winners for the 7th Annual GRIT Awards and Best Energy Workplaces.
  • These awards are regarded by many as the most prestigious, significant recognition in the energy industry worldwide.
  • "This year's GRIT Awards and Best Energy Workplaces winners are a diverse cohort of game-changing entrepreneurs, gritty leaders, collaborative teams, and companies committed to combatting climate change."
  • "This year's GRIT Awards and Best Energy Workplaces winners are a diverse cohort of game-changing entrepreneurs, gritty leaders, collaborative teams, and companies committed to combatting climate change.

Hess Midstream LP Reports Estimated Results for the Third Quarter of 2023

Retrieved on: 
Wednesday, October 25, 2023

Hess Midstream LP (NYSE: HESM) (“Hess Midstream”) today reported third quarter 2023 net income of $164.8 million compared with net income of $159.4 million for the third quarter of 2022.

Key Points: 
  • Hess Midstream LP (NYSE: HESM) (“Hess Midstream”) today reported third quarter 2023 net income of $164.8 million compared with net income of $159.4 million for the third quarter of 2022.
  • We refer to certain results as “attributable to Hess Midstream LP,” which exclude the noncontrolling interests in Hess Midstream Operations LP owned by the Sponsors.
  • Hess Midstream expects upon consummation of the proposed transaction, Chevron will acquire Hess’ 37.8% ownership in Hess Midstream, including its right to appoint four directors to the Board of Hess Midstream.
  • Revenues and other income in the third quarter of 2023 were $363.1 million compared with $334.8 million in the prior-year quarter.

Hess Midstream LP Announces Distribution Per Share Level Increase

Retrieved on: 
Monday, October 23, 2023

Hess Midstream LP (NYSE: HESM) (“Hess Midstream”), today announced that the Board of Directors of its general partner declared a quarterly cash distribution of $0.6175 per Class A share for the quarter ended September 30, 2023.

Key Points: 
  • Hess Midstream LP (NYSE: HESM) (“Hess Midstream”), today announced that the Board of Directors of its general partner declared a quarterly cash distribution of $0.6175 per Class A share for the quarter ended September 30, 2023.
  • The distribution represents an approximate 2.7% increase in the quarterly distribution per Class A share for the third quarter of 2023 as compared to the second quarter of 2023.
  • This increase consists of an approximate 1.5% increase in Hess Midstream’s distribution level per Class A share in addition to the quarterly 1.2% increase per Class A share consistent with its target of at least 5% growth in annual distributions per Class A share through 2025.
  • Hess Midstream expects upon consummation of the proposed transaction, Chevron will acquire Hess’ 37.8% ownership in Hess Midstream, including its right to appoint four directors to the Board of Hess Midstream.

Hess Cancels Earnings Release Conference Call

Retrieved on: 
Monday, October 23, 2023

Hess Corporation (NYSE: HES) announced today that it will no longer hold its third quarter results conference call originally scheduled for Wednesday, October 25, 2023 at 10 a.m. Eastern Time due to the announcement earlier today that Hess has entered into a definitive agreement to be acquired by Chevron, subject to shareholder and regulatory approvals and other customary closing conditions.

Key Points: 
  • Hess Corporation (NYSE: HES) announced today that it will no longer hold its third quarter results conference call originally scheduled for Wednesday, October 25, 2023 at 10 a.m. Eastern Time due to the announcement earlier today that Hess has entered into a definitive agreement to be acquired by Chevron, subject to shareholder and regulatory approvals and other customary closing conditions.
  • Hess Corporation is a leading global independent energy company engaged in the exploration and production of crude oil and natural gas.
  • More information on Hess Corporation is available at www.hess.com/ .

Electric Era Announces Investment from Chevron Technology Ventures to Scale Adoption of its PowerNode™ Electric Vehicle Charging Stations

Retrieved on: 
Tuesday, October 3, 2023

Electric Era Technologies , a leader in revolutionizing the world’s EV fast charging infrastructure with its proprietary PowerNode™ EV high-speed charging stations, today announced an investment from Chevron Technology Ventures.

Key Points: 
  • Electric Era Technologies , a leader in revolutionizing the world’s EV fast charging infrastructure with its proprietary PowerNode™ EV high-speed charging stations, today announced an investment from Chevron Technology Ventures.
  • This evolutionary leap in EV charging technology has the potential to unlock new revenue streams for store owners and brings reliable EV charging infrastructure into new communities, reducing a key friction point for electric vehicle adoption.
  • “Electric Era’s technology has the potential to enable delivery of an easier-to-deploy, fast charging solution at scale,” said Jim Gable, Vice President, Innovation and President of Technology Ventures at Chevron.
  • The investment from Chevron Technology Ventures’ Future Energy fund is part of Electric Era’s series A financing led by HSBC Asset Management with participation from SQM Lithium Ventures, Blackhorn Ventures, and Proeza Ventures.

Revolutionizing Energy Operations and Logistics with Web3 Field Automation: Unveiling Groundbreaking Solutions for the B4E Network & Platform

Retrieved on: 
Tuesday, October 3, 2023

Following the successful launch of the industry-driven Network & Platform, Blockchain for Energy (B4E), proudly introduces its new Commodity Transport Web3 Field Automation solution.

Key Points: 
  • Following the successful launch of the industry-driven Network & Platform, Blockchain for Energy (B4E), proudly introduces its new Commodity Transport Web3 Field Automation solution.
  • Available exclusively via the B4E Network & Platform, this cutting-edge solution unlocks operational and financial efficiencies with the powerful convergence of IoT and Web3 technologies.
  • This ecosystem, creates real-time visibility and hyper-automation for field logistics, ensuring significant cost reductions, streamlined operations, and frictionless consumer-supplier interactions.
  • With multiple projects currently spearheaded by consortium members, the B4E Network & Platform allows companies to build Web3 solutions on top of B4E’s decentralized and interoperable platform.

Advisory: Chevron Corporation’s 3Q 2023 Earnings Conference Call and Webcast

Retrieved on: 
Monday, October 2, 2023

Jake Spiering – General Manager, Investor Relations

Key Points: 
  • Jake Spiering – General Manager, Investor Relations
    To access the live webcast, visit www.chevron.com .
  • The meeting replay will also be available on the company website under the “Investors” section.
  • Chevron is one of the world’s leading integrated energy companies.
  • Chevron produces crude oil and natural gas; manufactures transportation fuels, lubricants, petrochemicals, and additives; and develops technologies that enhance our business and the industry.

Mitsubishi Power Marks Successful Validation, Installation and Operation of Large-Scale Electrolyzers

Retrieved on: 
Thursday, September 28, 2023

(Image credit: Mitsubishi Power)

Key Points: 
  • (Image credit: Mitsubishi Power)
    The large-scale 5.5 MW single stack pressurized alkaline electrolyzer is being validated in two stages.
  • From there the technology is now undergoing long-term validation at a permanent installation in the Takasago Hydrogen Park.
  • It is designed for the long-term operation of these electrolyzers at one location and under the same conditions as they would operate commercially.
  • Full-scale validation of a technology is a method championed by Mitsubishi Power for more than 30 years and aims to minimize technology risk for customers.