Latest Chevron Corp News

Climate bill's unlikely beneficiary: US oil and gas industry

Aug. 18, 2022 20:05 PM EDT

BILLINGS, Mont. (AP) — The U.S. oil industry hit a legal roadblock in January when a judge struck down a $192 million oil and natural gas lease sale in the Gulf of Mexico over future global warming emissions from burning the fuels. It came at a pivotal time for Chevron, Exxon and other industry...

Fed panel: Delaware suit against oil industry is state issue

Aug. 17, 2022 17:40 PM EDT

DOVER, Del. (AP) — A federal appeals court has ruled that a lawsuit filed by Delaware’s attorney general seeking to hold the petroleum industry responsible for climate change effects in the state must be heard in state court instead of federal court. Wednesday's ruling by a...

Target, Krispy Kreme fall; Hill International, Lowe's rise

Aug. 17, 2022 16:20 PM EDT

NEW YORK (AP) — Stocks that traded heavily or had substantial price changes Wednesday: Target Corp., down $4.85 to $175.34. The retailer's second-quarter profit fell far short of Wall Street forecasts as it slashed prices to clear unwanted inventories of clothing,...

Buffett's firm buys more Apple shares while betting on oil

Aug. 16, 2022 11:13 AM EDT

OMAHA, Neb. (AP) — Warren Buffett's company bet more on high-tech darling Apple during the second quarter, while also investing billions in old-school oil producers Occidental Petroleum and Chevron. Berkshire Hathaway detailed all its second-quarter investments Monday in a new...

High oil prices help Saudi Aramco earn $88B in first half

Aug. 14, 2022 10:23 AM EDT

DUBAI, United Arab Emirates (AP) — Saudi energy company Aramco said Sunday its profits jumped 90% in the second quarter compared to the same time last year, helping its half-year earnings reach nearly $88 billion. The increase is a boon for the kingdom and the crown prince's spending power as...

Illumina, ResMed fall; Broadridge, Humana rise

Aug. 12, 2022 16:29 PM EDT

NEW YORK (AP) — Stocks that traded heavily or had substantial price changes Friday: Illumina Inc., down $19.12 to $208.33. The genetic testing tools company reported disappointing second-quarter financial results. Chevron Corp., up 23 cents to...

Gas prices dip just below $4 for the first time in 5 months

Aug. 11, 2022 18:26 PM EDT

DALLAS (AP) — Gasoline prices have dipped under $4 for the first time in more than five months — good news for consumers who are struggling with high prices for many other essentials. AAA said the national average for a gallon of regular was $3.99 on Thursday, down from the...

Growth in corporate profits may not be as strong as it seems

Aug. 11, 2022 09:43 AM EDT

NEW YORK (AP) — Wall Street's big gains this summer have been spread widely across industries. The profit growth helping to underpin those gains? Not so much. Roughly 90% of the companies in the S&P 500 have reported their second quarter results, and their earnings per share...

Warren Buffett's company has bet $47B on the oil sector

Aug. 09, 2022 12:05 PM EDT

OMAHA, Neb. (AP) — Warren Buffett's company has bought up more than $11 billion worth of Occidental Petroleum stock this year, giving Berkshire Hathaway control of more than 20% of the oil producer. Occidental's stock rose more than 3.5% on Tuesday to $62.18 after Buffett revealed...

Buffett's firm reports $44B loss but its businesses thrive

Aug. 06, 2022 14:33 PM EDT

OMAHA, Neb. (AP) — Warren Buffett’s company reported a $43.76 billion loss in the second quarter as the paper value of its investments plummeted, but Berkshire Hathaway’s many operating companies generally performed well suggesting the overall economy is weathering the pressure from inflation...