Chevron committed for the first time to an aspiration of net zero emissions from its operations as the company responded to rising investor and societal pressure to play a bigger role in a transition to a low-carbon future.
Indonesian national energy company Pertmina plans to invest $3 billion in the giant Rokan Block over the next five years in an effort to maintain upstream production after taking over operatorship from Chevron. Crucially, Pertamina said it is also seeking for partners interested in jointly developing chemical enhanced oil recovery (EOR) technology after failing to acquire the knowhow from Chevron (NYSE:CVX).
Energy majors, including Chevron, ExxonMobil, JERA, JGC, Mitsubishi Heavy Industries, Santos and SK E&S, are banding together to help nations in Asia achieve lower carbon emissions by promoting natural gas. Together they have established an advocacy group called Asia Natural Gas and Energy Association (ANGEA) that will join with policymakers to find solutions to cut carbon emissions.
Steven Donziger, the disbarred lawyer who once won an $8.6 billion judgment against Chevron over contamination of the Amazon rain forest, was sentenced to six months in jail for defying court orders.
Valaris has created a virtual tour of an oil rig operating in the Gulf of Mexico.
House Democrats are investigating the role oil and gas giants and their trade groups may have played in misleading the public on the role of fossil fuels in causing climate change.
Indonesian national oil company (NOC) Pertamina has seen production at the giant Rokan Block edge up by 2,000 barrels per day (b/d) since taking over the field from Chevron last month. However, it remains to be seen if the NOC, which plans to spend $2 billion at Rokan by 2025, can significantly boost volumes in the longer term.
The world is facing high energy prices for the foreseeable future as oil and natural gas producers resist the urge to drill again, according to Chevron's top executive.
Chevron has today set out plans to adapt to the energy transition through the investment of more cash in new low carbon sources.
Carbon capture and storage (CCS) will play an important role in decarbonising liquefied natural gas (LNG), but the pace of progress remains too slow, writes Gavin Thompson, Asia Pacific vice chair, Wood Mackenzie.
Oil and gas majors are being warned they must plan for a “major production drop” in order to hit the 1.5°C Paris Agreement target.
Arguably, much of the animosity directed towards carbon capture and storage (CCS) in recent times has seemed more than a tad harsh.
An emissions busting technology that is being backed by several large oil and gas firms could be a “non-starter” in the short term, according to researchers.
Chevron is responsible for decommissioning dozens of platforms at the giant Erawan Block, which it will hand over to Thai national oil company PTT Exploration & Production (PTTEP) in April 2022, when its concessionary contract expires. However, delays in official government approvals leaves key decommissioning contracts stalled for now.
Tropical Storm Ida has formed in the Caribbean and is forecast to a grow into a powerful hurricane in the days ahead, wreaking havoc across the Gulf of Mexico and ultimately crashing into the US coast.
Chevron has chosen Australian engineering company Worley to provide engineering and construction management services at the US giant’s recently sanctioned $4 billion Jansz-Io Compression (J-IC) project offshore Western Australia.
ABB will supply the overall electrical power system (EPS) for the multi-billion dollar Jansz-Io Compression (J-IC) project offshore Australia after winning contracts with Chevron and Aker Solutions worth $120 million.
Supply chain companies working to shape the energy transition would be “welcomed with open arms” in Houston, according to a leading economist.
Indonesian national oil company (NOC) Pertamina is now the official operator of the giant Rokan Block offshore Indonesia after taking over from Chevron today. Significantly, Pertamina will invest $2 billion over the next four years in an attempt to reverse declining production at the legacy asset.
Exxon Mobil Corp. and Chevron Corp. swung to their biggest profits since pre-pandemic days amid surging demand and prices for plastics and energy.
Thailand’s PTT Exploration & Production (PTTEP) said yesterday that there is still “no clarity” around access to the Chevron-operated Erawan gas field off Thailand ahead of a transition next year. PTTEP wants access before next April’s handover to ensure a smooth transition and stem a production decline at the field, which is key to Thai energy security.
Deepwater upstream projects are increasingly important for Southeast Asia, where new investment in production is critical to meet rising demand for oil and gas, as economies continue to expand.
Earlier this month Murphy Oil joined a long list of explorers, which includes BP, Equinor, Chevron, Karoon Energy, Bight Petroleum, and their joint venture partners, that have now exited and passed over the opportunity to unlock the Great Australian Bight.
Indonesian upstream regulator SKK Migas has asked Shell to complete the divestment process for its Masela Block, which holds the giant Abadi gas field, by the end of this year, reported local media. Chevron is also being pushed to finalise the sale of its Indonesian Deepwater Development (IDD) to Italy’s Eni.
Chevron is receiving heavy flak and potential fines for failing to meet emissions reduction targets at its troubled carbon capture and storage (CCS) scheme that forms a crucial element of the Gorgon liquefied natural gas (LNG) export project in Australia. Its partners include Shell and ExxonMobil.