CHEVRON PRODUCTS

ShipServ’s e-procurement Solutions Expand

ShipServ announced that Chevron Shipping Company and Seabulk International have contracted to conduct their procurement business via ShipServ’s TradeNet trading platform. ShipServ established a foothold in North America, by adding a number of blue chip clients and breaking into new sectors such as LNG, cruise ships etc. Chevron Shipping, San Ramon, California, signed on its tanker fleet currently at 25 ships, including the, Northwest Swan, an LNG vessel operated by an affiliate of Chevron Shipping on behalf of the North West Shelf Venture Gas Project. Seabulk International, Fort Lauderdale, Florida, who operate one of the largest USA tanker fleets, will use TradeNet for all purchasing for their fleet of ten petroleum product and chemical tankers. “Chevron Shipping and Seabulk, together with other ShipServ TradeNet Members Keystone, OSG, Fairmont and Tycom, make for a real blue-chip presence in the American shipping markets. We have also made inroads into the cruise industry.” comments Peder Arstorp, Director of Sales, Americas, the most recent addition to the US operations.

South China Sea Energy Exploration by Chevron

Chevron Corporation's China subsidiary signs production sharing contracts for exploration blocks in the Pearl River Estuary, South China Sea. Chevron's agreement is with China National Offshore Oil Corporation (CNOOC). Under the PSC agreements, Chevron China Energy Company will hold a 100 percent interest in blocks 15/10 and 15/28 in the Pearl River Mouth Basin. During the exploration phase Chevron China Energy Company will be the operator of the two shallow water blocks

Chevron Strikes Big in Deepwater GOM

Chevron Corporation reported that it has completed a record setting production test on the Jack #2 well at Walker Ridge Block 758 in the U.S. Gulf of Mexico. The Jack well was completed and tested in 7,000 ft. of water, and more than 20,000 ft. under the sea floor, breaking Chevron's 2004 Tahiti well test record as the deepest successful well test in the Gulf of Mexico. The Jack #2 well was drilled to a total depth of 28,175 ft.

Improving Fuel Efficiency and Maintenance Time Within The Chevron Fleet

Live water systems free of sea life are one reason why the Chevron fleet runs more efficiently and economically than others. Since 1995, a number of Chevron Shipping Company's crude oil tankers have been operating smoothly with electrochlorination systems, the generators of hypochlorite that in turn prevent the fouling of live water cooling systems. Hypochlorite is the active ingredient required for bio-fouling control

Chevron Opposes Oil Import Duty, Anti-Dumping Petitions

Chevron has reaffirmed its opposition to the anti-dumping and countervailing duty petitions filed against imports of crude oil from Mexico, Venezuela, Saudi Arabia and Iraq. The company's position was presented in a second letter from Chevron Chairman Kenneth Derr to the U.S. Department of Commerce. A coalition of independent oil producers petitioned the Department of Commerce to determine whether Mexico, Venezuela, Saudi Arabia and Iraq are illegally "dumping" crude oil into the U.S

Chevron Names FPSO Vessel

Chevron's Floating Production Storage and Offloading Vessel (FPSO) Kuito was officially named at a ceremony in Singapore recently. Named after the field discovered by Chevron in 1997, Kuito is an intricate portion of plans for the first development of Block 14, a 1,560 sq. mile area located next to another Chevron operated concession, Block 0. After commissioning, Kuito will depart for the western coast of Africa where it will be spread moored in water depths of approximately 1,260 ft

Next Generation Deepwater Drillship Starts Work

Chevron commences operations with drillship, 'Pacific Santa Ana', in deepwater, Gulf of Mexico Chevron Corporation announced that the Pacific Santa Ana, a deepwater drillship built to Chevron's specifications, has arrived in the Gulf of Mexico to work for Chevron under a five-year contract with a subsidiary of Pacific Drilling S.A. It is the first drillship designed with the capacity to perform dual gradient drilling (DGD).

Chevron Strike Gas Offshore Western Australia

Natural gas deposits discovered in two locations by Chevron Australia's deepwater drilling exploration program in the Carnarvon Basin. The Pinhoe-1 exploration discovery well encountered approximately 197 feet (60 meters) of net gas pay in the Barrow and Mungaroo Sands. Pinhoe-1 is located in the WA-383-P permit area, located approximately 124 miles (200 kilometers) north of Exmouth off the Western Australia coast. The well was drilled in 3

Crowley Christens ATB Innovation

Crowley Maritime Corporation christened the ninth in a series of 10 new 185,000 barrel ATBs at the VT Halter Marine shipyard in Pascagoula. The Innovation and barge 650-9 will be chartered to Chevron, to safely transport petroleum products throughout the Gulf of Mexico. During the ceremony, Joan Pennella, wife of Crowley Vice Chairman and Executive Vice President Bill Pennella, christened the 10,728-horsepower tug Innovation; while Lynn Brewer, wife of Burl Brewer

Chevron Increases Dividend For 12th Consecutive Year

Chevron Corp. today declared a quarterly dividend of $.65 per share, payable December 10 to stockholders of record Nov. 19. The dividend rate increased $.14 per share - or 6.6 percent - over the preceding quarter.