Latest Chevron Corp News

FILE - In this March 9, 2010, file photo a tanker truck passes the Chevron oil refinery in Richmond, Calif. A federal appeals court ruled Tuesday, May 26 against major oil companies in lawsuits brought by California cities and counties seeking damages for the impact of climate change. A panel of the 9th U.S. Circuit Court of Appeals said state courts are the proper forum for the lawsuits alleging that Big Oil promoted petroleum as environmentally responsible when producers knew it was causing damage. (AP Photo/Paul Sakuma, File)

Big Oil loses appeal, climate suits go to California courts

May. 26, 2020 7:40 PM EDT

LOS ANGELES (AP) — Big Oil lost a pair of court battles Tuesday that could lead to trials in lawsuits by California cities and counties seeking damages for the impact of climate change. The 9th U.S. Circuit Court of Appeals rejected arguments by energy companies and ruled state courts are the proper forum...

FILE In this April 21, 2020 file photo, a pumpjack is pictured as the sun sets in Oklahoma City.  Google says it won’t build custom artificial intelligence tools for speeding up oil and gas extraction, taking an environmental stance that distinguishes it from cloud computing rivals Microsoft and Amazon.  The announcement followed a Greenpeace report on Tuesday, May 19,  that documents how the three tech giants are using AI and computing power to help oil companies find and access oil and gas deposits in the U.S. and around the world. (AP Photo/Sue Ogrocki File)

Google says it won't build AI tools for oil and gas drillers

May. 19, 2020 2:07 PM EDT

Google says it will no longer build custom artificial intelligence tools for speeding up oil and gas extraction, separating itself from cloud computing rivals Microsoft and Amazon. A statement from the company Tuesday followed a Greenpeace report that documents how the three tech giants are using AI and...

A man stands near an electronic stock board showing Japan's Nikkei 225 index at a securities firm in Tokyo Thursday, May 7, 2020. Asian shares were mixed Thursday after a decline on Wall Street after more depressing data rolled in on the devastation sweeping the global economy. (AP Photo/Eugene Hoshiko)

Asian shares mixed after Wall St dips on pandemic worries

May. 7, 2020 12:06 AM EDT

TOKYO (AP) — Asian shares were mixed Thursday after a decline on Wall Street after more depressing data rolled in on the devastation sweeping the global economy. Comments by President Donald Trump on trade with China and casting blame on Beijing for the coronavirus pandemic have further dampened sentiment....

FILE - In this April 23, 2018, file photo, the logo for ExxonMobil appears above a trading post on the floor of the New York Stock Exchange.  Profits fell at Exxon Mobil, Friday, May 1, 2020, during the first quarter as the global pandemic began to erode oil demand. The Irving, Texas oil giant lost $610 million in the first quarter, down 126% from the same time last year.(AP Photo/Richard Drew, File)

Exxon profits drop as most of world stays home, forgoes fuel

May. 1, 2020 1:41 PM EDT

NEW YORK (AP) — Profits fell at Exxon Mobil and Chevron warned of tough times ahead as the global pandemic began to erode oil demand. Exxon lost $610 million in the first quarter, down 126% from the same time last year, the Irving, Texas oil giant said Friday. Revenue was $56.16 billion, down 12% from the...

FILE - This Oct. 8, 2019, file photo the logo for Chevron appears above a trading post on the floor of the New York Stock Exchange.  Chevron turned a profit in the first quarter. But the company warned, Friday, May 1, 2020,  its financial picture is likely to be depressed in the future because of reduced demand caused by the coronavirus. (AP Photo/Richard Drew, File)

Chevron turns a profit but warns of pain ahead

May. 1, 2020 8:39 AM EDT

NEW YORK (AP) — Chevron turned a profit in the first quarter. But the company warned its financial picture is likely to be depressed in the future because of reduced demand caused by the coronavirus. The San Ramon, California-based oil producer brought in $3.6 billion in profits, up 36% from the same time...

FILE - In this April 1, 2020, file photo, several dozen mothballed Delta Air Lines jets are parked at Kansas City International Airport in Kansas City, Mo.  Investors are now getting their first look at companies navigating the coronavirus pandemic. A clearer snapshot of the business landscape should start to formulate by keeping an eye on the busiest week of the earnings season as many companies are reporting earnings on Tuesday, April 28. (AP Photo/Charlie Riedel, File)

Earnings season is in full swing and uncertainty is certain

Apr. 28, 2020 7:50 PM EDT

The most active week of the earnings season is on and the rush of quarterly reports Tuesday, 39 in all, captured the maneuvering of companies from almost every sector as they feel their way through an unprecedented economic shockwave. Companies are being affected in different ways but if there's a common theme,...

FILE - In this March 12, 2020, file photo, Venezuelan President Nicolas Maduro speaks at a press conference at the Miraflores Presidential Palace in Caracas, Venezuela. The Trump administration will announce Thursday, March 26, 2020, indictments against Maduro and members of his inner circle for effectively converting Venezuela's state into a criminal enterprise at the service of drug traffickers and terrorist groups, according to multiple people familiar with the situation. (AP Photo/Matias Delacroix, File)

Trump tells Chevron to "wind down" oil fields in Venezuela

Apr. 21, 2020 10:34 PM EDT

CARACAS, Venezuela (AP) — The Trump administration on Tuesday ordered Chevron Corp. to “wind down” operations in Venezuela by Dec. 1, barring the California-based oil giant in the meantime from drilling or exporting, as the U.S. increases pressure on President Nicolás Maduro to give up...

Historic oil price plunge trashes sector's profit outlook

Apr. 9, 2020 12:15 PM EDT

LOS ANGELES (AP) — Amid a historic Wall Street crash it's been the energy sector that's suffering the worst selling, thanks to a double whammy of the coronavirus crisis and a price war among big crude producers. The sector has lost 44% so far this year, as the price of crude recorded its worst drop in...