CVX Jan 2022 70.000 put
| Previous close | 9.75 |
| Open | 8.45 |
| Bid | 8.10 |
| Ask | 9.45 |
| Strike | 70.00 |
| Expiry date | 2022-01-21 |
| Day's range | 8.45 - 8.45 |
| Contract range | N/A |
| Volume | 10 |
| Open interest | 811 |
- Bloomberg
Chevron’s Investors Defy Board in Demanding Climate Disclosures
(Bloomberg) -- In a rare move against Chevron Corp.’s board, shareholders of the U.S. oil giant are calling on the company to disclose lobbying efforts and ensure that they support international goals to combat global warming.The proposal was the only one where a majority of Chevron’s investors diverged from the board’s recommendations in an annual meeting held virtually Wednesday. The matter was brought by BNP Paribas Asset Management, which has stepped up efforts in recent years to help further the international Paris Agreement on climate change. BlackRock Inc., Chevron’s second-biggest shareholder, also backed the measure.The vote comes as the world’s oil giants are already reeling over a pandemic-fueled market rout, while also facing increasing pressure to curb greenhouse-gas emissions and contribute more to the fight against climate change.U.S. oil majors Chevron and Exxon Mobil Corp. have noticeably lagged behind their European counterparts in making carbon-cutting pledges. BP Plc and Royal Dutch Shell Plc have both committed to becoming carbon neutral by 2050 -- a move that Chevron’s chief recently called “aspirational” and Exxon’s described as nothing more than a “beauty competition.”Though America’s two biggest oil companies say they support the goals of the Paris accord, some investors want reassurance that they’re not funding trade organizations that promote policies to the contrary.“Climate issues are so central to the work of these organizations that it’s hard not to be concerned that there’s the potential for misalignment,” said Jonathan Bailey, head of ESG investing at Neuberger Berman, which voted for the proposal. “This will also help accelerate clearer activities from the organizations they support.”Chevron’s board had recommended investors vote against the proposal, saying that it already made transparent disclosures of its lobbying activities. The defeat -- with a preliminary count showing 53% of investors voting in favor of the proposal -- means Chevron will be required for the first time to issue a report detailing how those activities align or not with climate goals.The result “is a real rebuke to Chevron and a wake-up call to the board,” said Kathy Mulvey, a campaign director at the Union of Concerned Scientists. “Companies must back up their statements with consistent action.”For more articles like this, please visit us at bloomberg.comSubscribe now to stay ahead with the most trusted business news source.©2020 Bloomberg L.P.
- Reuters
Exclusive: Chevron to cut up to 15% of staff amid restructuring
The oil producer previously disclosed a 30% reduction in its 2020 spending and some voluntary job cuts amid this year's sharp drop in oil prices and lower demand for oil and gas due to the COVID-19 pandemic. Chevron has been widely seen as the standard bearer of financial discipline in the oil industry and was among the first to make significant budget cuts as oil demand plummeted. Last year, it abandoned a takeover bid for Anadarko Petroleum Corp rather than get into a bidding war with Occidental Petroleum Corp .
- Business Wire
Chevron Discusses Business Operations at Annual Stockholders Meeting
Chevron Corporation (NYSE: CVX) today provided an overview of the company’s work to respond to the COVID-19 pandemic at its 2020 annual meeting of stockholders. This year’s meeting was virtual in place of an in-person event due to safety concerns related to the pandemic.
- Zacks
Dow Touches 25,000 in More Than 2 Months: 4 Blue-Chip Picks
The blue-chip index's northbound journey began on Mar 24 and is continuing barring occasional fluctuations.
- Zacks
Top Analyst Reports for Alibaba, Chevron & Shopify
Top Analyst Reports for Alibaba, Chevron & Shopify
- Simply Wall St.
Is The Market Rewarding Chevron Corporation (NYSE:CVX) With A Negative Sentiment As A Result Of Its Mixed Fundamentals?
With its stock down 7.9% over the past three months, it is easy to disregard Chevron (NYSE:CVX). It is possible that...
- Investing.com
Crude Oil Higher as Producers Cut Output and Demand Rises
Investing.com - Oil prices pushed higher Tuesday, amid signs producers are making good their promises to cut crude supply while demand picks up.
- Oilprice.com
Which Oil Major Is Best Prepared For The Future?
Oil majors are forced to prepare for a challenging future, but the ways in which they position themselves are quite different
- Motley Fool
3 Top Stocks that Are Cash Cows
Looking for big dividends that look like they'll survive the COVID-19 crisis in stride? This trio of stocks should be on your short list.
- Motley Fool
Get Paid While You Wait: 3 Top Dividend Stocks in Energy
The energy sector is dealing with an unprecedented shock, but that is opening up interesting opportunities for long-term investors.
- Motley Fool
Is Chevron a Buy?
It also sounds like integrated oil major Chevron (NYSE: CVX). Chevron is the second-largest energy company in the world by market cap, surpassed only by its fellow U.S. oil juggernaut ExxonMobil (NYSE: XOM). Let's take a closer look at Chevron to see whether it's a buy.
- Motley Fool
3 High-Yield Dividend Stocks I'd Buy Right Now
Three that I own and plan to buy more of are AT&T (NYSE: T), STORE Capital (NYSE: STOR), and Chevron (NYSE: CVX). If ever there was an imperfect telecommunications stock, it would be AT&T. In fact, some flaws could be considered major grievances. Shifting away from its bread-and-butter mobile network service, the company racked up massive debt purchasing DirecTV in 2015 and Time Warner in 2018, leaving it with a heaping $164 billion in long-term liabilities at the end of its first quarter of 2020.
- Zacks
The Zacks Analyst Blog Highlights: ExxonMobil, Chevron, National Oilwell Varco, HollyFrontier and Halliburton
The Zacks Analyst Blog Highlights: ExxonMobil, Chevron, National Oilwell Varco, HollyFrontier and Halliburton
- Motley Fool
4 Top Oil Stocks to Buy Right Now
Oil prices have gone on a wild ride this year, taking most oil stocks with them. Crude, however, seems to have found its bottom and has recovered quite a bit of ground over the past month. That's leading many investors to consider buying oil stocks for the next leg of the rebound.
- Zacks
America's Fossil Fuel or Europe's Bet on Low Carbon Future?
The coronavirus pandemic has indelibly impacted the global energy sector. Although the demand for oil has noticeably dropped and prices have plunged, the pace of shift to renewable energy from fossil fuel is still uncertain.
- Reuters
Angola's oil exploration evaporates as COVID-19 overshadows historic reforms
The coronavirus pandemic has done in a handful of months what even a 27-year civil war did not: it has brought oil drilling to a halt in Angola, Africa's second-largest oil producer. The consequences could be grave for a poor country that relies heavily on oil revenues and is saddled with debts that exceed its economic output. The halt in oil exploration, which has not been previously reported, could represent a setback for one of the most ambitious economic reform drives on the continent, aimed at cleaning up corruption and attracting foreign money.
- Reuters
Exclusive: Exxon revives sale of stake in giant Azeri oilfield
Exxon Mobil has relaunched the sale of its stake in Azerbaijan's largest oilfield, the company said on Tuesday, as banking and industry sources said the move was drawing interest from large Asian oil and gas companies seeking to capitalize on the recent collapse in oil prices. The top U.S. oil and gas company first tried to sell its 6.8% stake in the Azeri-Chirag-Gunashli (ACG) field in the Caspian Sea in 2018, as rival Chevron launched the sale of its own 9.57% stake in the field.
- Zacks
Dow, S&P Jump Over 3% on Encouraging Vaccine Data
Dow, S&P; Jump Over 3% on Encouraging Vaccine Data
- Bloomberg
Australia Looks to Big Oil in Latest Plan to Curb Emissions
(Bloomberg) -- Australia is seeking to cut emissions in one of the world’s biggest per-capita polluters by encouraging oil firms including Chevron Corp. and Woodside Petroleum Ltd. to invest in carbon-reduction projects.The nation on Tuesday said it would revamp a multibillion-dollar climate fund to support the development of technologies such as carbon capture and storage to improve efficiency and reduce greenhouse gases. The move was welcomed by the oil and gas industry and blasted by climate groups, which said it undermines renewable energy projects.Calls for Prime Minister Scott Morrison to do more to combat climate change got louder after devastating bushfires destroyed thousands of homes this past summer. Morrison has said the country will comfortably meet its international commitments, but progress on emissions reduction has stalled in recent years as a number of heavy-polluting gas export facilities started operations.The government plans to revamp the A$2 billion ($1.3 billion) Climate Solutions Fund, after an independent report published Tuesday found that stronger action was needed for the country to meet its climate commitments under the Paris Agreement. The fund is part of a A$3.5 billion package to help Australia meet the 2030 goal.“Key sectors are not projected to have begun significantly reducing emissions by 2030 and concerted effort is needed to unlock the critical, transformative technologies these sectors need,” according to the report, headed by former Origin Energy Ltd. Managing Director Grant King.The King report’s recommendations “align with the government’s technology-based approach to reducing emissions,” Energy Minister Angus Taylor said in a statement. He will support a proposal to award credits to big facilities for adopting low-emissions technology, which could then be used to meet their climate obligations under the government’s so-called “safeguard mechanism.” That system sets a target limit for a facility’s emissions, above which it must purchase abatement.Under Taylor’s proposal, carbon capture and storage projects would be eligible for carbon credits, in a move welcomed by the Australian Petroleum Production & Exploration Association, an industry lobby group. It was also hailed by Santos Ltd., which is developing a CCS program in South Australia backed by Occidental Petroleum Corp. and BP Plc. Meanwhile, Chevron has ploughed billions of dollars into a carbon sequestration project at its Gorgon LNG plant, which started operation in August after several years of delay.“Australia needs low-cost, large-scale abatement to maintain our position as a leading energy exporter and manufacturer of energy-intensive materials such as steel and cement, as well as to enable new industries such as hydrogen,” Santos Chief Executive Officer Kevin Gallagher said in a statement. “CCS can facilitate the fastest route to a hydrogen fueled economy.”Climate groups said the proposal was too soft on big emitters such as Chevron and Woodside, whose giant liquefied natural gas facilities in Western Australia put them both in the country’s top 10 polluters. The government was wasting taxpayer money on unproven CCS technology, said Richie Merzian, climate & energy director at the Australia Institute think tank.“Many other industrialized countries are using stimulus programs for the dual benefit of climate action, while Australia is still missing even the most basic climate and energy policy,” he said. “This review is just tinkering on the margins of addressing Australia’s deep and dangerous fossil fuel reliance.”Read: The $30 Billion Fight to Fuel Australia’s Post-Covid EconomyThe report’s proposal for the government to give carbon credits to Australia’s biggest polluters to stay below legally required pollution limits is like paying drivers to stay under the speed limit, the Australian Conservation Foundation said in a statement.“Asking a former oil industry executive to review the national climate policy is like asking a fox to review the design of the chook house,” ACF climate campaigner Suzanne Harter said. “Australia has virtually no effective climate policy and no pathway to achieve net zero by 2050, which is required if we want to keep this a liveable continent for coming generations.For more articles like this, please visit us at bloomberg.comSubscribe now to stay ahead with the most trusted business news source.©2020 Bloomberg L.P.
- Zacks
The Zacks Analyst Blog Highlights: EOG Resources, Occidental Petroleum, ExxonMobil, Chevron and BP
The Zacks Analyst Blog Highlights: EOG Resources, Occidental Petroleum, ExxonMobil, Chevron and BP
- Reuters - UK Focus
Kazakhstan's Kashagan oil output jumps 48% in Jan-April
- Zacks
The Zacks Analyst Blog Highlights: ExxonMobil, Chevron, BP, Equinor and Royal Dutch Shell
The Zacks Analyst Blog Highlights: ExxonMobil, Chevron, BP, Equinor and Royal Dutch Shell
- Reuters
Oil crash pain drives potential gain for west Australian gas
A slump in energy prices that has led to the deferral of liquefied natural gas (LNG) projects around the world is set to be an unexpected boon for some producers trying to kickstart new ventures in gas-rich western Australia. Offshore and onshore projects led by Woodside Petroleum , Chevron Corp and Japan's Mitsui are in the mix to plug a looming supply gap at North West Shelf, Australia's oldest and biggest gas export plant. The shortfall follows a decision in March to put the giant offshore Browse gas project on ice after its owners, led by Woodside, balked at the $20 billion price tag to develop the field amid a slump in LNG prices to record lows.
- Zacks
Williams (WMB) Clinches Deepwater Anchor Transportation Deal
Williams (WMB) secures a transportation pact to supply natural gas from the massive Anchor field in the deepwater Gulf of Mexico to the Discovery system.
- Reuters - UK Focus
CORRECTED-Saudi Aramco debt to climb as world's largest dividend weighs
Saudi Aramco's debt is expected breach target levels as an oil price collapse triggered by the coronavirus forces it to borrow to meet the world's largest dividend pledge and buy a major stake in petrochemicals maker SABIC, analysts said. Compared with western oil companies, Saudi Arabia's national oil company appears in robust financial health.
