On April 2, Chevron Africa Holdings closed the sale of 100% of its ownership in Chevron Uganda to Total Uganda Ltd. The deal involved the sale 72 Caltex-branded service stations, an aviation operation at Entebbe International Airport, two lubricants warehouses, and four fuel depots.
Chevron Africa Holdings sold Chevron Nigeria Holdings to Corlay Global S.A, a Panamanian company owned by an African consortium. The sales agreement was first announced in September 2008 and closed after plans for the sale were finalized last week.
Chevron Corp. (CVX) announced that its Tahiti project in the Gulf of Mexico will begin production in the second quarter of 2009, a quarter earlier than expected. The project is expected to reach full production capacity in the fourth quarter of 2009.
The price of crude oil rose for the first tim ein six days after Saudi Arabia announced deeper supply cuts.
Company cites falling crude oil and natural gas prices.
OPEC announced it would cut oil output by 4.2 million barrels per day from September output, equivalent to a new reduction of 2.2 million bpd, to stabilize the price of oil. The cut was larger than expected.
Easily besting Wall Street's expectations, Chevron reported third quarter net income of $7.9 billion, or $3.85 per share, up from $3.7 billion, or $1.75 per share a year ago. Revenue rose 43% to $78.9 billion.
Chevron extends by 30 years its deal with the Saudi Arabian government to drill the Partitioned Neutral Zone. The company has a 50% interest in return for producing the region.
Chevron signs with the government of Canada's Newfoundland and Labrador province to develop the Hebron offshore oil field, which is worth $4.7 billion.
Chevron and Weyerhauser announce a JV partnership, Catchlight Energy LLC., which will produce cellulosic biofuels from non-food sources - specifically, Weyerhauser's scrap wood.
Chevron announces that it has finished repairs to its Pascagoula crude refining unit that was damaged by a fire last August; production has started again.
07/13/07 – 07/17/07: Chevron’s share price increased from USD 64.94 on July 13, 2007 to USD 66.38 on July 17, 2007, on account of
Chevron’s share price increased from USD 68.08 on March 16, 2007 to USD 72 on March 22, 2007, due to the