Chevron

Daily freight rates to ship liquefied natural gas are at a record high, and prices are expected to climb further as winter approaches.Spot rates for ships commonly used to transport LNG are at $450,000 this week, a sixfold increase since the start of this year, according to the Baltic Exchange a London-based, freight-information provider. Brokers expect daily rates along main trade routes, including one from Texas to Northern Europe, to climb to $500,000 this month as the demand to charter ships remains high. In 2021,…

WASHINGTON—OPEC’s decision to slash oil production has the U.S. considering responses that could include measures aimed at breaking the cartel’s hold on markets or limiting U.S. oil exports should shortages emerge.The cutback by the Organization of the Petroleum Exporting Countries and its Russia-led allies is the latest dilemma for President Biden, who has sought to transition the U.S. away from fossil fuels while at the same time keeping consumer prices in check. A long fall in gasoline prices has started to reverse,…

The Biden administration is preparing to scale down sanctions on Venezuela’s authoritarian regime to allow Chevron Corp. CVX 0.57% to resume pumping oil there, paving the way for a potential reopening of U.S. and European markets to oil exports from Venezuela, according to people familiar with the proposal. In exchange for the significant sanctions relief, the government of Venezuelan President Nicolás Maduro would resume long-suspended…

The second-largest U.S. oil company closed the sale Wednesday of its Chevron Park campus in San Ramon, Calif., its global headquarters for two decades, to Sunset Development Co. The family-run company had originally sold the 92-acre parcel to Chevron in the early 1980s. Sunset Chief Executive Alex Mehran Jr. said Chevron also signed a lease for nearly 400,000 square feet of space in a nearby office building located in Sunset’s Bishop Ranch mixed-use project in San Ramon. Chevron’s office space there could house about…

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A line delivered by Danny Devito’s Penguin character in the 1992 film Batman Returns is one of the references cited in Chevron’s brief.Photo: Robyn Beck/AFP (Getty Images)Big Oil wants you to believe that, because climate change was mentioned in children’s cartoons and a Batman movie in the 1990s, companies like Chevron hold no responsibilities for the current climate crisis.02:49Guess How Much Crypto's Been Stolen Lately? Part 2Today 10:45AMThat’s the gist of abrief filed by Chevron in Hawaii’s First Circuit Court,…

Five of the world’s biggest fossil fuel giants aren’t putting their money where their mouths are. Shell, BP, Chevron, ExxonMobil, and TotalEnergies are all spending hundreds of millions of dollars each year to look better on climate change—while at the same time investing a relative pittancein their own company-identified, low-carbon or renewable energy activities, according to a new report.The analysis from InfluenceMap, a UK-based climate think-tank, found that an average of 60% of 2021 public communications from the…

Money managers bracing for a global slowdown have pulled back from bets on oil and other commodities, helping push prices lower. But their focus on potentially waning demand isn’t shared with some of the most powerful figures in the industry, or with investment banks, who point to a host of other reasons why prices should be higher. This week, Saudi Prince Abdulaziz bin Salman said the oil futures market has become increasingly disconnected from supply and demand for energy. Saudi Arabia is considering cuts to OPEC+…

The Permian Proud website.Screenshot: GizmodoAt first glance, the story looks like something your aunt might post on her Facebook from her local newspaper. “Midland County judge ‘pardons’ jaywalking puppy,” the headline reads, with a photo of a startled-looking Pomeranian behind a microphone, seemingly on a witness stand. The post details how a Texas judge found a dog underneath his truck in the parking lot of his courthouse and used social media to find the owner.But the piece isn’t a quirky feel-good story from a local…

A federal appeals court ruled that lawsuits by Delaware and Hoboken, N.J., seeking compensation from oil companies for the impacts of climate change should be decided in state, not federal courts. The decision Wednesday is the latest procedural victory by state and municipal governments, which have sought to bring climate-liability cases against companies such as Exxon Mobil Corp. , Chevron Corp. and Shell…