Oil major Chevron has joined a number of businesses to opt out of the Texas open carry law - which means employees will no longer be able to carry firearms inside office buildings. The move was made apparent to employees in an email sent on the final day of last year. The decision covers handguns, rifles or shotguns.
Chevron made more progress in its table- turning campaign against plaintiffs' lawyers suing the oil company over pollution in Ecuador.
Chevron has made around 1,000 workers redundant from its Gorgon LNG plant in Australia as it looks to streamline costs.
Total said the Moho Phase 1b project in the Republic of the Congo has been brought on stream. The company said the site, which is 75 kilometres off the coast of Pointe-Noire, has a production capacity of 40,000 barrels of oil equivalent per day. The project will involve the drilling of 11 new subsea well and the installation of the two most powerful subsea multiphase pumps in the world.
Chevron has completed a jobs consultation process which will see a reduction in headcount by 140 positions from its North Sea operations. Earlier this week the company said it would be reducing its spending in 2016 by around 24%.
BP Plc, Chevron Corp. and the other partners in Australia’s largest oil and gas venture approved a $2 billion expansion in the project, the fourth major gas development at the North West Shelf in the past seven years. The Greater Western Flank Phase 2 off the north-west coast will develop 1.6 trillion cubic feet of gas from six fields, the operator of the North West Shelf, Woodside Petroleum Ltd., said Friday in a statement.
Oil giant Chevron said it will cut its budget by 24% next year as it aims to control spending following the decline in oil price. The company said it would spend $26.6billion in 2016, with the bulk of spending planned on international oil and gas exploration and production projects.
Oil major Chevron is making headcount reduction from its staff in Australia as it looks to streamline costs across the globe. The company previously announced it would be cutting between 6,000 and 7,000 jobs around the world as it looks to combat low oil prices.
Oil major Chevron is said to be considering whether to make 1,000 staff members who work in the neutral zone between Saudi Arabia and Kuwait redundant. According to the Wall Street Journal, a dispute between the countries has halted all work on oil fields for several months. The company has already reduced the number of petroleum-development rigs in the neutral zone.
Oil major Chevron is reviewing up to 140 positions across its North Sea operations as it looks to streamline costs.
Oil major Chevron said it had reduced its 2016 budget by 25% as well as laying off around 10% of its workforce. The company said it plans to spend between $25billion to $28billion next year. It will also reduce its spending in 2017 and 2018, an acknowledgement that oil prices are not expected to rise drastically in the next few years.
A stubborn 16-month crude rout with no end in sight is driving the largest US oil producers away from costly, high-risk mega-projects long touted as the industry’s future and toward safer shale operations that generate the cash needed to satisfy anxious investors.
Oil major Chevron said it has made a “significant discovery” after the appraisal of the Anchor discovery in the Gulf of Mexico. The original discovery well, which is located 140 miles off the coast of Louisiana, was drilled in late last year to a depth of 33,750feet and encountered 690feet of net oil pay. The appraisal drilling began in June this year and Chevron said complete appraisal of the field will require further delineation wells and technical studies.
Oil major Chevron has made changes to its senior team with two of its top executives assuming new roles. The company said Michael Wirth will become executive vice president from midstream and development. Wirth is currently executive vice president for downstream and chemicals.
Fred Olsen Energy (FOE) has cancelled a construction contract for a newbuild rig with Hyundai Heavy Industries in South Korea, as well as ending an agreement with Chevron in the UK North Sea. The company’s subsidiary, Bollsta Dolphin, said it had exercised its contractual termination right as a result of the rig’s delay.
BG Group has restarted production from its Everest platform in the central North Sea after completing the first phase of a £300million major upgrade that will extend its life a further 10 years.
Exxon Mobil Corp. and Chevron Corp. were among several U.S. oil and natural gas producers that had their outlooks or ratings cut by Standard & Poor’s as the industry suffers from weak crude prices, hurting their cash flow and liquidity. S&P cut ratings for Chesapeake Energy Corp., Denbury Resources and Whiting Petroleum Corp., while giving Exxon and Chevron "negative" outlooks, the ratings agency said Friday in a statement. Exxon “has substantially more debt than during the last cyclical commodity price trough in 2009, while upstream production and costs are at similar levels,” S&P analysts Thomas Watters and Carin Dehne-Kiley said. Oil prices have fallen 58 percent from last year’s peak, threatening $1.5 trillion in North America energy investments, according to Wood Mackenzie Ltd. Oil has been stuck near $45 a barrel as U.S. crude stockpiles stay about 100 million barrels above the five-year seasonal average and OPEC pumps at near- record levels.
Chevron North Sea (CNS) has defended its record for awarding contracts after being criticised for favouring foreign companies for its biggest projects. US-owned CNS has shortlisted four companies to bid for topsides and jacket engineering, procurement and construction (EPC) work on its Captain Enhanced Oil Recovery (EOR) project. The oil producer has come under fire in north-east England for not including OGN Group, based in Wallsend, Tyne and Wear, where it is feared thousands of workers could be laid off as existing contracts end.
Plans to expand a major oil and gas office complex in Aberdeen have been hailed as evidence that the city is “here to stay” as a global centre of expertise. A planning application has been lodged to create a 20,000sq ft extension at Chevron House, part of the Hill of Rubislaw business park that is the UK home to oil giants Chevron, Marathon Oil and Conocophillips. The development has emerged at a time when thousands of North Sea jobs have been lost or thrown into doubt as a result of the global oil industry downturn. Maeve Callery, vice-president of commercial development at the site’s owners, the Talisker Corporation, said: “We have been active in the Aberdeen market for nearly 30 years, including the development of Chevron House and the proposed R7 development across the road.
Construction workers on Chevron’s Gorgon LNG project in Western Australia have voted in favour of taking industrial actions over roster concerns. According to reports, more than 1,000 employees – who are employed by contractor Chicago Bridge and Iron – want to change the current rota from 26 days on and nine off. Instead, staff are calling for more ‘family-friendly’ shifts with 20 days on, with 10 off.
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Oil giant Chevron today confirmed that it would move to a new combination shift pattern of three on, three off and two weeks on and four weeks off. The move which breaks away from the traditional two on, three off will give the workers the chance to supplement the equal time rota with additional field breaks. Workers will be able to utilise the new two weeks on, four weeks off shift pattern three times a year.
Employees in Houston working for oil major Chevron are expected to find out when potential job losses are to come as the company reduces its headcount in the region by 950 positions. The move is understood to be part of a wider plan as it looks to streamline its costs globally following the oil price decline. Chevron workers are expected to be given two months’ notice in advance that their positions have been cut.
Chevron has awarded a contract for work on its Barrow Island assets in Australia to engineering company Monadelphous. The move has given the company a jobs boost with 500 people expected to be employed to perform work under the three-year agreement.
Oil refiners including Chevron, ExxonMobil and BP are being investigated for alleged price fixing based on claims that they colluded to control the supply of gasoline in the western United States.