News on Chevron Corporation

NYC judge allows Chevron arbitration to proceed

2010-03-11T13:32:28Z

<div id="subtitle">NYC judge rejects Ecuador's attempt to stop Chevron arbitration bid in environmental lawsuit</div><div><p>A judge ruled Thursday that Chevron can proceed with an international arbitration claim against Ecuador related to a 17-year-old court battle over rain forest contamination in t...

U.S. judge rules for Chevron in Ecuador case

2010-03-11T10:45:30Z

<div><p>NEW YORK (Reuters) - Chevron Corp may pursue an international arbitration claim over environmental pollution allegations in Ecuador, a judge ruled on Thursday, part of a long-running case that carries a potential $27 billion liability for the second-largest Reuters) - Chevron Corp <CVX.N>, the second-largest U.S. oil company, put some of its downstream operations up for sale, including its Pembroke refinery in the UK, and said it would eliminate 2,000 jobs...

Chevron to shed 2,000 jobs, sell some assets

2010-03-09T14:45:14Z

<div id="subtitle">Chevron plans to cut 2,000 jobs, sell some overseas assets in restructuring</div><div><p>Chevron Corp. said Tuesday it will cut 2,000 jobs this year and sell some overseas operations as it revamps its struggling refinery, marketing and transportation operations.</p><p>The job cuts represent almost 12 percent of its 17,000 workers in the so-called downstream part of its bus...

Chevron To Cut 2,000 Positions

2010-03-09T14:33:18Z

SAN FRANCISCO - MARCH 09: A Chevron customer walks by gas pumps at a Chevron gas station March 9, 2010 in San Francisco, California. Chevron Corp. announced that it would cut 2,000 jobs this year. (Photo by Justin Sullivan/Getty Images)

Chevron said Tuesday it would downsize its global refining and marketing activities to compete in "difficult" market conditions, cutting 2,000 jobs this year.</p><p>At a meeting with financial analysts in New York, Mike Wirth, executive vice president of Chevron's Global Downstream...

Chevron legal executive leaving company

2010-02-25T12:00:25Z

<div id="subtitle">Chevron legal executive Charles James leaving company, to be succeeded by general counsel Pate</div><div><p>Chevron Corp. said Thursday that executive vice president Charles James, who guides legal strategy for the nation's second-largest oil and gas producer, will leave the company May 2 as part of a planned transition.</p&...

Chevron to build solar plant at NM tailings site

2010-02-23T17:00:10Z

<div id="subtitle">Chevron subsidiary to build solar plant at New Mexico tailings site</div><div><p>A subsidiary of oil giant Chevron Corp. plans to build what New Mexico officials say will be the largest solar power plant in the nation that uses lenses to focus sunlight onto solar cells.</p><p>Chevron Mining Inc. and Chevron Corp. to build solar plant on part of New Mexico metals mine</div><div><p>Chevron Corp. said Tuesday it will build a solar power plant near a mine that a subsidiary operates in New Mexico.</p><p>The plant will generate electricity by spreading 175 solar panels across 20 ...

Ecuadorean judge changed on Chevron pollution case

2010-02-22T09:30:44Z

<div><p>QUITO (Reuters) - The provincial court in Ecuador's Amazon region that is hearing a $27 billion environmental damages case against Chevron Corp has changed the judge in charge of the case, court officials said on Monday.</p><p>The change was described as an administrative matter not ex...

Chevron says expert biased in cleanup case

2010-02-22T10:19:02Z

<div id="subtitle">Chevron says damage assessment in Ecuador pollution case is tainted by biased reports</div><div><p>Chevron Corp. has stepped up its offensive against a group that says the oil giant poisoned sections of the Amazon rain forest.</p&...

How Nigeria is sabotaging the global oil market

2010-02-22T11:07:37Z

<div id="subtitle">Could be time to go oil heavy</div><div><p>Nigeria's oil industry is about to implode. The coming destruction will have a disastrous effect on the global oil market... But I've got a good idea exactly how this will play out, and I'm getting my readers ready. Before we get into that, let me give you a little background. In the last few years, civil unrest in the Marathon Oil Corp. said Tuesday that higher oil prices helped it earn $355 million in the fourth quarter, reversing a loss from a year ago.</p><p>The Houston<...

Business Highlights

2010-02-22T15:06:17Z

<div id="subtitle">Business Highlights</div><div><p>Economy grows at 5.7 pct pace, fastest since 2003</p><p>WASHINGTON (AP) — The economy's faster-than-expected growth at the end of last year, fueled by companies boosting output to keep stockpiles up, is likely to weaken as consumers keep a lid on spending.</p><p>The 5.7 percent annual growth rate in the fourth quarter was the fastest ...

Chevron 4Q profit falls 37 percent

2010-02-22T13:35:41Z

<div id="subtitle">Higher crude prices squeeze Chevron refining business; 4Q profits fall 37 percent</div><div><p>Chevron Corp. said Friday its fourth-quarter profit fell 37 percent as higher crude prices led to huge losses in its refining business.</p><p>Oil refineries, which turn crude into gasoline, diesel and other fuels, struggled last yea...

Chevron Q4 profit down, sees 2010 output up 1 percent

2010-02-22T13:35:29Z

<div><p>NEW YORK/SAN FRANCISCO (Reuters) - Chevron Corp posted a drop in quarterly profit on Friday, and its new boss said the second-largest U.S. oil company had plenty of work to do on its own proje...

Chevron's Quarterly Profits Slide 37 Percent

2010-01-29T12:31:04Z

ALAMEDA, CA - JANUARY 29: Chevron customers drive out of a Chevron gas station January 29, 2010 in Alameda, California. Chevron reported a 37 percent decline in fourth quarter profits with earnings of $3.07 billion, or $1.53 a share compared to $4.9 billion, or $2.44 a share, a year ago. (Photo by Justin Sullivan/Chevron gas station in Jackson, Miss. Chevron Corp. said Friday, Jan. 29, 2010, its fourth-quarter profit fell 37 percent as higher crude prices led to huge losses in its refining business.(AP Photo/Rogelio V. Solis, file)

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Nigeria: Minister says oil leases not in jeopardy

2010-02-22T15:12:04Z

<div><p>Nigeria's oil minister says oil leases held by Chevron Corp. and Royal Dutch Shell PLC are not in jeopardy while the nation's president remains out of the country receiving medical care.</p><p>Minister Nigerian government is in talks with the United States oil firm Chevron and Anglo-Dutch oil giant Shell over the renewal of their shallow water oil licences, an official statement said on Tuesday.</p><p>"Chevron and Shell are still in negotiations with the F...