News for Chevron
Mar 2 · 10:48:00 AM · Source: San Francisco Chronicle
As a verdict nears in the long-running environmental lawsuit against Chevron Corp. in Ecuador, both sides are ratcheting up the pressure, the San Francisco Chronicle reports.
The man who says oil field contamination in Ecuador's rain forest killed two of his children will try to meet with Chevron's new chief executive officer, John Watson, the newspaper says. Together with some of his American supporters, Emergildo Criollo will go first to Watson's home in Lafayette, then to the company's headquarters in San Ramon, carrying with him petitions signed by 325,000 people asking Chevron to settle the suit.
Read more: http://www.sfgate.com/cgi-bin/article.cgi?f=/c/a/2010/03/01/BULA1C97V3.DTL#ixzz0h2ArSRBj
This litigation is a long-running sad story, and it is unclear when or if it will end.
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by Jeffrey Epstein
Feb 25 · 8:59:00 PM · Source: Company Press Release
Chevron Corporation today announced that executive vice president,
Charles A. James, will leave the company effective May 2, 2010. James, who
intends to retire from the active practice of law, will join the adjunct faculty
of the law school at Arizona State University and pursue other charitable
ventures. This move is part of a planned transition under which James led the
recruitment of his successor, R. Hewitt Pate, vice president and general
counsel. Pate joined the company in August 2009 and has reported to James during
this transition period.
"Charles has provided tremendous leadership to our global legal team over the
past eight years," said John Watson, Chevron`s chairman and CEO. "During his
tenure, he created a world-class law function and guided our legal strategy on a
range of complex and important legal matters. Charles will have an ongoing
consulting relationship with Chevron and we look forward to drawing on his deep
understanding of the law and our business. We wish him well."
No known reason to think this is anything other than a pre-planned transition, expected to go smoothly. If not, oil sheen in the executive suite would be evident.
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by Jeffrey Epstein
Feb 23 · 7:39:00 PM · Source: Company Press Release
SANTA FE, N.M., Feb. 23 /PRNewswire/ -- In the presence of Governor Bill
Richardson, Chevron Mining Inc. (CMI), a subsidiary of Chevron Corp (NYSE:
CVX) announced that sister company Chevron Technology Ventures (CTV), will
build a one megawatt concentrating photovoltaic solar facility on the tailing
site of CMI's molybdenum mine in Questa, New Mexico. The project will
demonstrate and evaluate an emerging solar technology and a practical use of
previously impacted land.
The electricity produced will be sold to Kit Carson Electric Cooperative
through a power purchase agreement. Project construction is scheduled to
begin in spring 2010 and conclude by year-end.
The demonstration project will be the largest concentrating solar photovoltaic
installation in the U.S. This is one of several solar technologies being carefully watched for practicality and a future potential payoff.
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by Jeffrey Epstein
Feb 23 · 8:07:00 AM · Source: Financial Express Bangladesh
Chevron has sold half of its stake in block seven to South Korean oil company GS Caltex tying up the first ever Korean company for hydrocarbon exploration in the country's southern region, officials said Monday. The US oil giant sold 45 per cent stakes to the South Korean company retaining 45 per cent stakes including the operator-ship of block 7 that covers parts of Barisal, Patuakhali, Barguna and Bhola.
State-owned Bangladesh Petroleum Exploration and Production Company (Bapex) has 10 per cent carried over interest in the block.
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by Jeffrey Epstein
Feb 11 · 11:10:00 AM · Source: Reuters
Chevron Corporation today announced that a consortium led by its
Venezuelan subsidiary has been selected to negotiate its participation in a project composed of three blocks in the Orinoco Oil Belt (Faja) of eastern Venezuela.
"We look forward to being part of this new opportunity that will expand development of one of the world`s largest known hydrocarbon resources," said Chevron Vice Chairman George Kirkland.
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by Michael Oliveto
Feb 10 · 1:58:00 PM
In a court filing today in Lago Agrio, Ecuador, Chevron provided
newly discovered information showing that the author of a report recommending
that Chevron be ordered to pay $27 billion in damages is the majority owner of
an oilfield remediation company that stands to gain financially from a judgment
against Chevron.
Due to the remediation company`s relationship with Ecuador`s
state-owned oil company, Petroecuador, Chevron called upon the court to
immediately reject the work of Richard Cabrera on the grounds that he knowingly
hid his relationship and that he stands to gain from what was supposed to be
unbiased work for the court.
"For three years, Mr. Cabrera has concealed clear financial conflicts of
interest that disqualify him from acting as an independent and objective
evaluator of the evidence in the case," Chevron Vice President and General
Counsel Hewitt Pate said. "While Mr. Cabrera`s financial interests alone are
sufficient grounds for his report to be rejected, his intentional concealment of
those interests further demonstrates that the entirety of his work lacks
honesty, integrity, or credibility."
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by Michael Oliveto
Dec 31 · 11:32:00 AM · Source: The Wall Street Journal
Chevron's Cabinda joint venture is spending $2.3 billion over five years to reduce flaring, the burning of natural gas from oil fields, and instead utilize the gas, a top company official said this month.
The disclosure comes as foreign oil companies are increasingly investing to monetize the gas that used to burn in their African fields, driven by higher gas prices and environmentalists' demands.
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by Michael Oliveto
Dec 31 · 11:30:00 AM · Source: San Diego Source
Chevron will pay $45.5 million to resolve claims that it underpaid natural gas royalties to the US government and Native Americans, the Justice Department announced.
Most of the settlement money will be distributed to federal, state and American Indian accounts affected by the underpayments. More than $12.3 million of the amount will go to the heirs of the whistleblower who filed the lawsuit in Beaumont, TX.
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by Michael Oliveto
Dec 18 · 1:47:00 PM · Source: Dividend.com
Dividend.com is reporting that Chevron saw its coverage reinstated on Friday with a “Buy” rating by analysts at Bank of America/Merrill Lynch. The analyst also set a $105 price target on CVX shares, which had closed at $76.78 on Thursday. The analyst said that a group of new projects over the past 18 months will likely spur growth and set the company apart from its peers in the oil industry.
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by Rich Pike
Dec 7 · 2:47:00 PM · Source: Business Spectator
Tokyo Electric Power Company has signed a deal to buy 4.1 million tons of liquefied natural gas per year from Chevron Corp’s Wheatstone project off Western Australia for two decades.
Under the $90 billion deal, Tokyo Electric will also take a 15% stake in Chevron’s holdings in the project and an 11.25% stake in Wheatstone’s onshore processing facilities.
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by Michael Oliveto
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