Oil giant Chevron ties executive pay to emissions reductions

It has pledged to reduce methane emissions and flaring intensity

Equinor buys 40% stake in giant undeveloped oil and gas field

It is estimated to hold 300m barrels of potential recoverable volumes of oil and gas

Academics demand climate change resolutions from ExxonMobil and Chevron

More than 1,000 professors have sent an open letter to ExxonMobil and Chevron’s shareholders demanding climate change resolutions. The academics from more than 40 universities are urging the companies to do so at their annual general meetings later this month. Positive Investment, an international coalition of students, academics and staff concerned about ethical investment, proposed nine […]

Chevron to cut up to 7,000 jobs

US oil giant Chevron could cut up to 7,000 jobs. The firm made the announcement earlier today however it hasn’t said when it will happen. It follows a fall in its profits in the third quarter of this year. Chevron’s average price for a barrel of crude oil and natural gas liquid plummeted 51.7% from $87  (£56/Bbl) a […]

BP to sell stakes in Gulf of Mexico oil fields

BP is to sell around half of its current stakes in two oil fields in the Gulf of Mexico. Chevron will buy the equity interests in the Gila and Tiber fields, which are also co-owned by ConocoPhillips and Petrobras. BP, Chevron and ConocoPhillips are also joining forces to explore 24 jointly-held offshore leases in the […]

Chevron “culls 225 jobs from Aberdeen oil site”

US oil giant Chevron is said to have announced a cull of 225 jobs from its operations in Aberdeen. Chevron suggested this number could be reduced if it moves staff to other sites. The news comes two days after the UK Treasury announced a review of its tax regime to keep more drillers working in […]

Chevron given go-ahead to develop North Sea gas field

US energy giant Chevron has been given the green light to develop an oil and gas field in the UK North Sea. The Alder field was discovered almost 40 years ago but development has now been approved by the Government after “new technologies made the high-temperature and high pressure characteristics” possible. Engineers have decided on […]

Chevron resumes shale drilling in Romania following protests

The US oil giant Chevron has reportedly resumed exploratory drilling for shale gas in eastern Romania after it was forced to halt work over the weekend for the second time in two months. In October the firm won the rights to drill in the small town of Pungesti, roughly 210 miles north east of the […]

Ukraine signs $10bn shale gas deal with Chevron

The Ukrainian Government signed a deal with US energy giant Chevron this week to extract shale gas from the Olesska field in western Ukraine according to reports. Chevron agreed to initially invest $350 million (£218 m) in exploration as part of the production-sharing agreement. Total investment in extraction as well as exploratory drilling is expected to […]

French energy firm bags North Sea contract

A French energy company has been awarded a two-year contract to assist Chevron’s developments in the North Sea. Technip will provide engineering, procurement, installation and construction services in the Alder field, located around 200 kilometres North-East of Aberdeen, Scotland, as Chevron develops a subsea tieback to the Britannia Bridge Link platform. The contract includes designing […]