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Tag: Chevron

Scams

EFCC secures conviction of firm for stealing ₦30.56m from Chevron contract staff

The Economic and Financial Crimes Commission has secured the conviction of AAC Consulting Limited for stealing ₦30.56 million belonging to contract staff of Chevron Nigeria Limited. The conviction was delivered on Friday, January 23, 2026, by Justice Rahman Oshodi of the Special Offences Court sitting in Ikeja, Lagos, according to a statement issued by the […]

Chevron, Tethys partner to produce local lubricants
Business

Chevron confirms participation in Nigeria’s 2026 oil licensing round

Chevron announced on Friday that it will participate in Nigeria’s next oil licensing round and plans to deploy a drilling rig in late 2026 as it actively seeks to expand its operations in Africa’s top energy producer. Jim Swartz, the chairman and managing director of Chevron Nigeria/Mid-Africa Business Unit, conveyed this commitment. Swartz stated that […]

Oil and Gas

TotalEnergies sells 40% stake in offshore licenses to Chevron

TotalEnergies EP Nigeria has agreed to sell a 40 per cent stake in two exploration licenses located offshore Nigeria to Chevron Corp. This transaction marks the second major collaboration between the two energy giants in six months as they work to unlock hydrocarbon resources in frontier basins. The French oil major signed a farmout agreement […]

News

Fire breaks out at Chevron’s US refinery

A major fire erupted Thursday night at Chevron’s El Segundo oil refinery in California, one of the largest refineries on the United States West Coast, following reports of an explosion. Chevron confirmed on Friday that no injuries were reported. The company’s fire department and local emergency services are actively responding to the blaze, according to […]

Business

Chevron shares rise after winning Hess acquisition case

Chevron has won a key arbitration case against Exxon Mobil over Hess Corporation’s offshore oil assets in Guyana. This was disclosed by the CEO of Exxon, Darren Woods, in an intervon on Friday, according to CNBC. The International Chamber of Commerce ruled in Chevron’s favor, paving the way for the company to move forward with […]

News

Chevron to cut 20% workforce in cost-saving plan

Chevron plans to cut 15% to 20% of its workforce as part of a cost-reduction strategy, aiming to save $2 billion to $3 billion by the end of 2025. The layoffs will begin this year and are expected to be largely completed by 2026, according to Chevron on Wednesday. “We do not take these actions […]

News

Chevron cuts low-carbon investments by 25%

Chevron plans to invest $1.5 billion in emission-reduction and alternative energy projects in 2025, a decrease from $2 billion this year. The company aims to focus on investments that align with its long-term strategy for energy transition. This reduction in low-carbon investments is more than twice the 11% overall cut to its budget announced on […]

Chevron pays stockholders $26bn
Business

Chevron pays stockholders $26bn

Chevron Corporation has announced a $26 billion return to investors for fiscal year 2023. This is true even if the business said that its reported earnings were lower than they were the previous year. The PUNCH reported Chairman and CEO of Chevron, Mike Wirth, was cited as saying, “In 2023, we returned more cash to […]

Chevron Nigeria appoints new chairman
Appointments

Chevron Nigeria appoints new chairman

Chevron Nigeria Limited has a new Chairman and Managing Director, Jim Swartz. This was announced in a statement on Wednesday by General Manager, Policy, Government, and Public Affairs Chevron Nigeria Limited, Esimaje Brikinn. Swartz, who was the Vice President of Capital Projects in Houston, Texas, prior to his appointment, was named Chairman and Managing Director of […]

Norway’s Equinor sells 20% share in Chevron Agbami field
Business

Norway’s Equinor sells 20% share in Chevron Agbami field

Equinor of Norway has completed the sale of its 20.21 percent interest in the Agbami oil field, which is operated by Chevron. The Punch reported that the Nigerian company Chappal Energies, owned by Equinor, announced on Wednesday that the company will purchase Equinor’s portion of the Agbami oil field for an undisclosed sum. Equinor Nigeria Energy Company’s […]

Chevron pays stockholders $26bn
Business

Chevron employees looming strike threatens global LNG supply

Workers at two huge liquefied natural gas plants in Australia controlled by US energy behemoth Chevron are poised to go on strike on 7 September, affecting approximately 5% of global LNG volumes and thereby driving up worldwide prices. This comes after weeks of negotiations over compensation and working conditions between Offshore Alliance members at Chevron’s Western […]

EXXONMOBIL-REFINERY
Business

ExxonMobil’s profit doubles in Q1 over high demand

ExxonMobil’s profits in the first quarter of 2023 doubled due to the increased demand for oil and gas and cost-cutting measures, resulting in a record $11.4bn profit despite falling oil prices and paying $200m in windfall taxes in Europe. BBC reported that the energy giant’s profits included a $3.4bn after-tax reduction to exit Russia. The […]

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