August 20, 2008 |
Chevron Corp. resurrected plans to tap a 700-million-barrel oil field off Canada's East Coast more than two years after the project collapsed amid a dispute with the provincial government over ownership stakes. San Ramon, Calif.-based Chevron plans to sign an agreement today with the Newfoundland and Labrador government to develop the Hebron-Ben Nevis heavy-oil project, Newfoundland Premier Danny Williams said Tuesday. Chevron Chief Executive David O'Reilly is spending almost $50 million a day worldwide to arrest declining oil and natural gas output and replace reserves that last year tumbled to the lowest since at least 1998.
August 16, 2008 |
Chevron Corp. said it was open to an amicable solution to a multibillion-dollar lawsuit in Ecuador. An out-of-court settlement would hinge on state-owned PetroEcuador fulfilling obligations in oil-field cleanups, the company said. The plaintiffs' lawyers say that about 30,000 people have suffered from health problems triggered by pollution caused by Texaco, which Chevron took over in 2001.
August 9, 2008 |
Chevron Corp. agreed to pay $48 million to settle class-action lawsuits by California consumers over claims that Unocal Corp., which Chevron acquired in 2005, misled regulators about pending patents it held on technology for making cleaner-burning gasoline. The Federal Trade Commission sued Unocal in 2003, alleging that it misled California regulators after the state adopted clean-air standards.
August 2, 2008 |
Chevron Corp. said Friday that its second-quarter profit rose 11% to a record $6 billion, even though production slipped and the San Ramon, Calif., company lost money refining and selling fuel. In the April-June quarter, Chevron, the country's second-largest oil company, posted net income of $6 billion, or $2.90 a share, up from $5.4 billion, or $2.52, in the year-ago quarter. Operating revenue rose 49% to $81 billion. Analysts expected earnings of $3.
June 22, 2008 |
Chevron Corp. said it had shut down its onshore oil production to protect the environment after a pipeline in the southern Niger Delta was sabotaged. The region's main militant group said it was not involved but had been contacted by angry youths who said they had blown up the pipeline.
May 29, 2008 |
Ten years ago this week, I was shot by Nigerian soldiers who, my federal lawsuit will show, were paid for by Chevron Nigeria Ltd., a subsidiary of Chevron Corp. I was standing on a drilling platform in the Niger Delta run by Chevron Nigeria Ltd.
May 9, 2008 |
Chevron Corp. said it planned to fire as many as 1,000 employees in its refining, marketing and transportation divisions. About 300 workers, mostly outside the U.S., received termination payments in the first quarter, according to a regulatory filing by the San Ramon, Calif., company.
May 3, 2008 |
Record energy prices gave Chevron Corp., the nation's second-largest oil company, a bigger-than-expected profit gain during the first quarter despite weak income from making and selling gasoline, the company said Friday. In the January-March quarter, San Ramon, Calif.-based Chevron posted net income of $5.2 billion, or $2.48 a share, up from $4.7 billion, or $2.18, in the year-earlier quarter. Revenue increased 40% to $64.7 billion.
April 13, 2008 |
Two Ecuadoreans who have waged a 14-year fight to bring a U.S. energy giant to account for what they allege is massive oil contamination in the Amazon are among the winners of an international environmental prize. Pablo Fajardo Mendoza and Luis Yanza each will receive $150,000 today from the San Francisco-based Goldman Environmental Prize for organizing half a dozen indigenous communities to pursue legal action against Texaco and then Chevron Corp. after the two companies merged in 2001.