Because we understand that the well-being of people everywhere depends on energy. Market indices are shown in real time, except for the DJIA, which is delayed by two minutes. Reducing the cost and improving the efficiency of our operations is critical to generating more revenues for the Federal Government of Nigeria”. Although Noble is in serious debt, its assets -- including its proven but undeveloped reserves -- are an attractive and a relatively cheap buy for. READ our Privacy-policy and cookie policy. We’re working together to provide energy that drives human progress. Foreign currency effects had an unfavorable impact on earnings of $284 million between periods. All rights reserved. “This will increase efficiency and effectiveness, retain value, reduce cost, and generate more revenue for the Federal Government of Nigeria. Second quarter organic capital expenditures were $3.0 billion, 40 percent below the quarterly budget, and year to date organic capital expenditures are on track with the company’s revised full year guidance of $14 billion. Making matters worse, many energy producers had incurred piles of debt to fund their operations before the current recession hit. Sales and other operating revenues in second quarter 2020 were $16 billion, compared to $36 billion in the year-ago period. It's the biggest energy deal since the Covid-19 pandemic decimated the oil industry. downloads. SUMMARIZED STATEMENT OF CASH FLOWS (Preliminary)1, Distributions less than income from equity affiliates, Loss (gain) on asset retirements and sales, Net decrease (increase) in operating working capital, Net Cash Provided by Operating Activities, Proceeds and deposits related to asset sales and returns of investment, Net maturities of (investments in) time deposits, Distributions to noncontrolling interests, EFFECT OF EXCHANGE RATE CHANGES ON CASH, CASH EQUIVALENTS AND RESTRICTED CASH, NET CHANGE IN CASH, CASH EQUIVALENTS AND RESTRICTED CASH. (1) Totals may not match sum of parts due to presentation in billions. (Millions of Dollars, Except Per-Share Amounts), Less: Net income (loss) attributable to noncontrolling interests, NET INCOME (LOSS) ATTRIBUTABLE TO CHEVRON CORPORATION, * Includes operating expense, selling, general and administrative expense, and other components of net periodic benefit costs, Net Income (Loss) Attributable to Chevron Corporation, Weighted Average Number of Shares Outstanding (000's), SELECTED BALANCE SHEET ACCOUNT DATA (Preliminary), Total Chevron Corporation Stockholders' Equity. Brikinn said: “In this process, the company will be streamlining its workforce and improving service delivery and overall performance at all levels”, adding that “the aim is to have a business that is competitive and have an appropriately sized organization with improved processes. Commercial scale production is a significant achievement, and the result of the company’s two-year exploration into the technical viability of creating circular polymers from waste plastics. October 13, 2020 #OndoDecides2020 SUMMARIZED STATEMENT OF CASH FLOWS (Preliminary), Capital and operating cost reductions on track, Second quarter loss of $8.3 billion; adjusted loss of $3.0 billion, Includes non-cash net charges of $5.2 billion and a $310 million asset sale gain. Chevron Phillips Chemical (CPChem) has announced success in its first commercial scale production of polyethylene using advanced recycling technology. This news release contains forward-looking statements relating to Chevron's operations that are based on management's current expectations, estimates and projections about the petroleum, chemicals and other energy-related industries. Updated 2:32 PM ET, Mon January 6, 2020 New York and London (CNN Business) Chevron has evacuated all of its American oil workers from Iraq following last week's US airstrike in Baghdad. Making changes to the organization is never easy for anyone that will be impacted, but it is necessary to improve our ability to remain competitive in Nigeria. (2) Net income attributable to Chevron Corporation (See Attachment 1). Factset: FactSet Research Systems Inc.2018. The amounts included $2.3 billion in 2020 and $3.1 billion in 2019 for the company’s share of expenditures by affiliates, which did not require cash outlays by the company. All times are ET. “Due to a recent Executive Order banning the use of WeChat, Chevron is requiring that you remove the application from your mobile device,” said the … CNL’s General Manager Policy, Government and … “We have prospects for our company in Nigeria; however, we must make the necessary adjustments in light of the prevailing business climate; and we need everyone’s support to get through these tough times stronger, more efficient and more profitable, in order to sustain the business. As used in this news release, the term “Chevron” and such terms as “the company,” “the corporation,” “our,” “we,” “us” and “its” may refer to Chevron Corporation, one or more of its consolidated subsidiaries, or to all of them taken as a whole. The oil-equivalent gas conversion ratio is 6,000 cubic feet of natural gas = 1 barrel of crude oil. “The past few months have presented unique challenges,” said Michael K. Wirth, Chevron’s chairman of the board and chief executive officer. “We also call on the Federal Government to call Chevron Management to order, otherwise we can no longer guarantee industrial peace in the oil and gas sector. “We will continue to consistently engage all relevant stakeholders, including the leadership of the employee unions as we continue this process of business optimization. Morningstar: Copyright 2018 Morningstar, Inc. All Rights Reserved. pressreleases. This followed the sack of 600 Nigerian employees and what they said were other anti-Labour practices by the management of the company. Energy that is affordable, reliable and ever-cleaner. Upon certification, Chevron Phillips Chemical intends to market its new circular polyethylene range under the trade name Marlex® Anew™ Circular Polyethylene. Warren Buffett's Berkshire Hathaway invests big in Japan, chose to walk away from any bidding contest. Sunday, October 4, 2020 7:20 pm | Business | 0 Comment(s). U.S. upstream operations reported a loss of $2.1 billion in second quarter 2020, compared with earnings of $896 million a year earlier. The District Court of The Hague today ruled in favor of Chevron Corporation in its dispute with the Republic of Ecuador, upholding a 2018 arbitral award rendered by an international tribunal administered by the Permanent Court of Arbitration. Included in the 2020 period were inorganic capital expenditures of $0.3 billion associated with the downstream acquisition of Puma Energy (Australia) Holdings Pty Ltd. Chevron’s discussion of second quarter 2020 earnings with security analysts will take place on Friday, July 31, 2020, at 8:00 a.m. PDT. The increase in net charges between periods was mainly due to absence of the Anadarko termination fee that was received in second quarter 2019, along with severance accruals that were recorded in the current period. TOTAL NET OIL-EQUIVALENT PRODUCTION (MB/D): (4). Unless legally required, Chevron undertakes no obligation to update publicly any forward-looking statements, whether as a result of new information, future events or otherwise. And we're having the difficult conversations about race and reaffirming our commitment to equal pay, equal opportunity and equal rights.”. Chevron News: auf dieser Seite finden Sie alle Chevron News und Nachrichten zur Chevron Aktie. But to companies looking to snap up cheap assets, these are good conditions to go on a buying spree. Refinery crude oil input of 589,000 barrels per day in second quarter 2020 decreased 2 percent from the year-ago period. The company’s average sales price per barrel of crude oil and natural gas liquids was $19 in second quarter 2020, down from $52 a year earlier. Additionally, the company recently announced that it entered into a definitive agreement with Noble Energy to acquire all of its outstanding shares in an all stock transaction. International upstream operations reported a loss of $4.0 billion in second quarter 2020, compared with earnings of $2.6 billion a year ago.
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