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Tuesday, March 19, 2024
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Chevron News

18 Mar 2024

CEO Says Exxon Mobil Not Trying to Buy Hess

Source: Hess

Exxon Mobil CEO Darren Woods on Monday said his company is trying to establish it has rights over Hess Corp's Guyana assets in its dispute with Chevron, not buy the company itself.In his first public remarks on the company's pursuit of an arbitration case that could block Chevron's $53 billion deal for Hess, Woods said Exxon would not have waited for Chevron to announce its Hess deal if it had wanted to buy Hess."We're basically standing up for what we believe is a fundamental right," Woods told Reuters at the CERAWeek energy conference in Houston.

10 Mar 2024

Esgian Week 10 Report: Additional Backlog Secured

© freddytb Foto / Adobe Stock

Esgian reports that offshore drilling contractors secured additional backlog in the U.S. Gulf of Mexico, Egypt, Nigeria, and Brazil and operators confirmed new discoveries in Indonesia, Côte d’Ivoire, and China in its Week 10 Rig Analytics Market Roundup.ContractsDiamond Offshore has executed a two-year contract extension with a subsidiary of bp in the U.S. Gulf of Mexico for the 12,000-ft drillship Ocean BlackHornet.Shelf Drilling’s 250-ft jackup Rig 141 has secured a two-year…

06 Mar 2024

Iran to Unload Crude from Seized Tanker Advantage Sweet

© momentscatcher / Adobe Stock

Iran will unload about $50 million worth of crude from a Marshall Islands-flagged tanker seized last year, the semi-official Fars news agency reported on Wednesday, in a tit-for-tat action against the United States.Advantage Sweet is a Suezmax crude tanker that had been chartered by U.S. firm Chevron and was seized in April 2023 by Iran's army following an alleged collision with an Iranian boat.The unloading of the cargo follows a Tehran court order in favor of Iranian patients of Epidermolysis Bullosa (EB)…

01 Mar 2024

Venezuela Oil Exports Rising, but Shipping Delays Persist

© Vladimir / Adobe Stock

Venezuela's oil exports slightly increased in February to some 670,000 barrels per day (bpd), but ongoing shipping delays worsened a bottleneck of tankers waiting to load, according to documents and vessel monitoring data.State-run oil firm PDVSA's customers have rushed to send tankers to Venezuela in recent months to pick up crude and fuel before the United States potentially reimposes oil sanctions.Restrictions could resume on April 18 when an existing license expires, the U.S.

06 Feb 2024

Sea Machines Receives $12 Million in Funding

(File photo: Sea Machines)

Boston-based Sea Machines, a developer of autonomous control systems and advanced perception technology for maritime vessels, announced it has secured $12 million from a group of capital investors.The funding round, led by cleantech venture capital specialist Emerald Technology Ventures, was joined by Nabtesco Technology Ventures (NTV), Chevron Technology Ventures, Ingram Industries, RKKVC, Level 2 Ventures and IMC Ventures. This adds to a financing in 2023 led by the Geekdom Fund.The company said the investments will help it to "hone its technological edge and grow its market presence".

30 Jan 2024

Chevron Reroutes Kazakh Oil to Asia Around Africa

Chevron is sending cargoes of Kazakhstan's CPC Blend oil to Asia around Africa's Cape of Good Hope rather than via the Red Sea to avoid the risk of attacks by Yemen’s Houthis, according to three industry sources and LSEG ship-tracking data.The Iranian-aligned Houthis have stepped up attacks on shipping despite U.S.-led air strikes on the group's positions in Yemen, leading more vessels to avoid using the Red Sea and the Suez Canal - the shortest sea route between Europe and Asia.CPC Blend crude is loaded at the Russian Black Sea terminal of Yuzhnaya Ozereevka, near Novorossisk.

09 Jan 2024

Oil Tankers Continue Red Sea Movements Despite Houthi Attacks

© Haris Andronos / Adobe Stock

Oil and fuel tanker traffic in the Red Sea was stable in December, even though many container ships have rerouted due to attacks by Iran-aligned Houthi militants, a Reuters analysis of vessel tracking data showed.The attacks have driven up shipping costs sharply along with insurance premiums, but have had less impact than feared on oil flows, with shippers continuing to use the key East-West passage. The Houthis, who have said they are targeting Israel-bound vessels, have largely…

10 Jan 2024

Chevron Names Yavuz GM for its Global Marine Lubricants

Ayten Yavuz (Photo: Chevron)

Chevron announced it has appointed Ayten Yavuz as the new General Manager, Global Marine Lubricants.Yavuz joined Chevron in 1991 and has held notable positions over three decades at the company. Most recently, Yavuz was the Regional Manager of Chevron Marine Products for North West Europe and the Americas.In her new role, Yavuz will be responsible for charting the course toward profitable growth, innovation and development within the marine business sector, Chevron said. She will…

20 Dec 2023

US Gulf of Mexico oil Auction is Largest Since 2015

© arsenypopel / Adobe Stock

A Biden administration auction of Gulf of Mexico drilling rights raised $382 million on Wednesday as oil companies claimed offshore acreage for what is set to be the last time until 2025.The auction total was the highest of any federal offshore oil and gas lease sale since 2015, according to a Reuters tally.Shell, Hess, Anadarko, BP, Chevron, Repsol and Equinor were among the 26 companies that participated in the sale.Anadarko had the auction's highest bid of more than $25 million for a block in the deepwater Mississippi Canyon area, according to an online broadcast of the sale by the U.S.

14 Dec 2023

Bid Round Raises Optimism in Brazil's Deep Water Industry

Source: Petrobras

On December 13, 193 blocks were auctioned in Brazil’s oil and gas licensing round, signaling strong optimism for the industry, according to Wood Mackenzie.Highlights from these bid rounds included:• The total amount in bonuses was US$85 million• 44 blocks were acquired in the Pelotas Basin, a frontier area. Petrobras will operate 29 and Chevron 15• All Basins managed to attract bids, even Parana Basin• A single Brazilian operator, Elysian, acquired 122 onshore blocks• BP, Equinor…

12 Dec 2023

Shell to Boost Production at Perdido's Oil Project

© Troy V Smith / Adobe Stock

Shell on Tuesday said it has made a final investment decision (FID) to boost production at the Perdido oil project in the U.S. Gulf of Mexico, starting in April 2025.The company, which operates the platform, said it will add three wells that are expected to produce up to 22,000 barrels of oil equivalent per day (boepd) at peak rates.

29 Nov 2023

Equinor Sells Nigerian Business to Chappal Energies

Source: Equinor

Equinor and Chappal Energies have entered into an agreement for the sale of Equinor Nigeria Energy Company (ENEC), which holds a 53.85% ownership in oil and gas lease OML 128, including the unitised 20.21% stake in the Agbami oil field, operated by Chevron.Equinor has been present in Nigeria since 1992 and has played a significant role in developing Nigeria’s largest deep-water field, Agbami. Since production started in 2008, the Agbami field has produced more than 1 billion barrels of oil…

28 Nov 2023

Black Sea Storm Disrupts Russian and Kazakh Oil Exports

© Vladimir / Adobe Stock

A severe storm in the Black Sea region has disrupted up to 2 million barrels per day (bpd) of oil exports from Kazakhtsan and Russia, according to state's officials and port agent data.Oil loadings from Novorossiysk and the Caspian Pipeline Consortium (CPC) terminal in nearby Yuzhnaya Ozereyevka have been suspended since last week.Kazakhstan's largest oilfields - Tengiz, Kashagan and Karachaganak - are cutting combined daily oil output by 56% from November 27 as the storm disrupts loadings at CPC…

15 Nov 2023

ZEI Raises $8.75 Million in Series A Funding

ZEI is best known as the technology team behind the Sea Change ferry, the world’s first commercial hydrogen fuel cell vessel. (File photo: All American Marine)

San Francisco-based hydrogen technology company Zero Emission Industries (ZEI) announced it has raised $8.75 million through the completion of a Series A financing round led by Chevron New Energies, with participation from commodity trading company Trafigura and shipping and logistics company Crowley.ZEI, formerly known as Golden Gate Zero Emission, is best known as the technology team behind the Sea Change ferry, the world’s first commercial hydrogen fuel cell vessel launched…

15 Nov 2023

US Appeals Court Orders Gulf Lease Auction Within 37 Days

Source: Earthjustice, Credit: NOAA

A U.S. appeals court on Tuesday ordered that a postponed federal auction of drilling rights in the Gulf of Mexico be held within 37 days, a setback for environmentalists seeking expanded protections for the endangered Rice's whale.According to court papers, the New Orleans-based U.S. Court of Appeals for the 5th Circuit dismissed an effort by four green groups to block an expansion of the sale ordered by a lower court judge in September.The judges said the groups lacked standing to challenge the September decision.

14 Nov 2023

Chevron's Lubricating Oil Enables Fuel Flexibility in Marine Engines

Wartsila 34 dual fuel engine test cylinder - Credit: Chevron Marine Fuels

Chevron Marine Products said Tuesday that four-stroke engine operators could benefit from its new lubricating oil's versatility.HDAX 9700 was created to provide a solution for engines that run on multiple liquid and gaseous fuels and applications that require a low-sulfated ash lubricant, Chevron said.According to the company, the HDAX 9700t is also suitable for dual-fuel marine engines, as HDAX 9700 has successfully completed more than 20.000 hours of testing on a Wärtsilä dual-fuel power plant.“HDAX 9700 brings many benefits for operators of four-stroke engines.

14 Nov 2023

Egypt Expected to Resume LNG Exports in December or January

© Anatoly Kolodey / Adobe Stock

Egypt is expected to resume exports of liquefied natural gas (LNG) in December or January as domestic demand declines during winter and as it receives more gas from Israel, an executive at Italy's ENI said on Tuesday."Consumption in Egypt is reducing and we would expect by December, possibly January, (LNG) exports could resume," Cristian Signoretto, director for ENI's global gas and LNG portfolio, told reporters on the sidelines of an industry conference in London.Egypt shipped…

09 Nov 2023

Mideast Conflict Dims Prospect of More Egyptian LNG Exports to Europe

Tamar Platform - Credit III Production media via Delek Group (File Image)

The prospect of the EU receiving more liquefied natural gas (LNG) from Egypt in the short and medium term looks unachievable due to tight gas balances and reduced imports from Israel, Oxford Institute of Energy Studies (OIES) said.Egypt shipped 80% of its liquefied natural gas (LNG) exports to Europe last year as the continent sought to replace Russian pipeline gas after Moscow's invasion of Ukraine. The European Union in June last year signed a framework deal between the bloc…

19 Oct 2023

LNG Tanker Diverts from Egypt Terminal as Gas Flows from Israel Ebb

A tanker seeking to fill up liquefied natural gas (LNG) at a terminal in Egypt left empty and diverted to another port, after an Israeli pipeline supplying gas was halted due to Israel-Hamas conflict, analysts said on Thursday.The Seapeak Catalunya tanker has changed course from Egypt's Idku LNG plant and is now heading to Algeria's Arzew LNG facility instead, LSEG analyst Olumide Ajayi said, citing shipping data.Chevron has shut down the Israeli Tamar gas field amid the military conflict in the country and suspended exports through the subsea EMG pipeline, which runs from Ashkelon in southern Israel to Egypt.Egypt relies on Israeli gas imports to meet some of its domestic demand and therefore…

09 Oct 2023

WinGD Issues NOL for Chevron's Taro Ultra Advanced 40

Clean piston - it is vital for high performance 40 BN cylinder oils to have excellent performance, centred on their cleaning ability. The test was done on WinGD 9X82 for over 4300h VLSFO. The feed rate during the test was 0.8 g/kWh. (Photo: Chevron)

Chevron Marine Products’ Taro Ultra Advanced 40 oil has successfully passed NOL (No Objection Letter) requirements by engine manufacturer WinGD. This follows the earlier NOL award for Taro Ultra Advanced 40 from MAN Energy Solutions. This latest test validates the suitability of the oil for use in WinGD engines operating with liquid fuels containing sulphur in the range 0.00<1.50 % m/m, which includes very low sulphur fuel oil (VLSFO). The test also approved the general usage…

18 Sep 2023

Chevron's Strike-hit Australia LNG Facility Resumes Full Production

Credit: Chevron Australia (file photo)

Chevron said on Monday full production had resumed at its strike-hit Wheatstone liquefied natural gas (LNG) facility in Western Australia after a fault last week cut production by about one-fifth.Wheatstone and the nearby Gorgon facility account for over 5% of global LNG supply, and the fault and the strikes did not affect scheduled deliveries, Chevron said, with shipping data on LSEG Eikon also showing exports from Wheatstone were unaffected.Chevron said on Monday full production…

18 Sep 2023

California Sues Oil Giants

Source: California Office of Governor

The state of California has sued major oil companies including Exxon Mobil, Shell PLC, and Chevron, accusing them of playing down the risks posed by fossil fuels, according to a court filing on Friday.The lawsuit, which also targets BP and ConocoPhillips, alleges the energy giants' actions have caused tens of billions of dollars in damages and accuses them of deceiving the public, the filing in a superior court in San Francisco showed.The American Petroleum Institute, an industry trade group…

30 Aug 2023

Kinder Morgan Says Idalia Caused Minimal Damage to Florida Terminals

(Image: NOAA)

Kinder Morgan KMI.N on Wednesday said its Port Manatee, Port Sutton and Tampaplex terminals in Florida sustained minimal damage due to Hurricane Idalia, and that it was also planning to shut its Charleston area terminals later in the day.The U.S. energy company said it was planning to reopen the terminals on Thursday, while its Tampa facilities including the Tampa refined products terminal and Central Florida Pipeline system have resumed normal operations.The Port Manatee, Port Sutton and Tampaplex terminals handle commodities such as fertilizers…

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