SANTA BARBARA, Calif.—A California jury has returned a $63 million verdict against Chevron after finding the oil giant covered up a toxic chemical pit on land purchased by a man who built a house on it and was later diagnosed with a blood cancer. Kevin Wright, who has multiple myeloma, unknowingly built his home directly…
IN-DEPTH: Oil Company Profits Soar
Top oil companies continue to see massive earnings, according to published earnings reports for the first quarter of 2023 this week. Energy prices have been soaring following Russia’s invasion of Ukraine in February 2022 and due to persistent global demand. TotalEnergies, ExxonMobil, Chevron, BP, and Shell reported a combined record profit of $153.5 billion in 2022…
ANALYSIS: Oil Company Profits Soar
Top oil companies continue to see massive earnings, according to published earnings reports for the first quarter of 2023 this week. Energy prices have been soaring following Russia’s invasion of Ukraine in February 2022 and due to persistent global demand. TotalEnergies, ExxonMobil, Chevron, BP, and Shell reported a combined record profit of $153.5 billion in 2022…
Chevron Tops Estimates With 1st Quarter Profit Gain Despite Slide in Oil Prices
HOUSTON—Oil major Chevron Corp. beat market expectations on Friday as profit nudged higher in the first quarter, with earnings from refining compensating for slides in energy prices as well as oil and gas production. Net profit climbed 5 percent to $6.57 billion or $3.46 per share. Results beat consensus by 4 percent, according to Refinitiv…
Chun Wins $1 Million for Charity With Hole-in-One at Chevron
THE WOODLANDS, Texas—In Gee Chun of South Korea hit a million-dollar shot at the Chevron Championship. She won $1 million for charity with a hole-in-one on the 17th at the first major of the season on Saturday. Chun jumped around and high-fived members of her team after watching the ball curve and roll in at…
Corpuz, Yin Tied for Lead at Chevron After 3rd Round
THE WOODLANDS, Texas—Americans Allisen Corpuz and Angel Yin shared the Chevron Championship lead at 10-under 206 after the third round Saturday. Corpuz and Yin each shot 5-under 67 at The Club at Carlton Woods in the major tournament that moved from the California desert to suburban Houston this year. Corpuz started out strong, with birdies…
A Lim Kim Shoots 7-under 65, Leads Rain-Delayed Chevron
THE WOODLANDS, Texas—A Lim Kim birdied the final two holes for a 7-under 65 and the lead Friday in the suspended second round of the rain-delayed Chevron Championship. Thirty-one players were unable to finish the round before dark in the first women’s major tournament of the season, with the event in its first year in…
Oil Companies Testing Low-Emissions Gasoline as an Electric Vehicle Alternative
The two biggest U.S. oil companies are testing the production of new, less carbon-emitting blends of gasoline, as the government push for electric vehicles (EVs) gets more pronounced. Chevron Corp. and Exxon Mobil Corp. are testing gasoline production from non-fossil sources, a move that could extend the period gasoline-powered vehicles remain available for purchase, as…
Chevron Boosts Share Buyback Program, Hikes US Spending
HOUSTON—Oil major Chevron Corp. on Tuesday expanded its share buyback program and laid out plans to add 750,000 barrels of oil and gas per day to its U.S. production on gains from the country’s shale basins and the Gulf of Mexico. U.S. oil companies have been moving more of their investments to the Americas to…
Chevron Annual Profit Hits Record but Q4 Miss Hits Shares
HOUSTON—Chevron Corp. on Friday posted a record $36.5 billion profit for 2022 that was more than double year-earlier earnings, but the bottom line fell shy of Wall Street estimates, undercut by asset writedowns and rising costs. The second largest U.S. oil producer’s adjusted net profit for 2022 exceeded its previous record set in 2011 by…
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