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☆ Here are Monday's biggest analyst calls: Nvidia, Tesla, Delta, Skechers, Apple, Disney, Micron, Citi, Amazon & more
▼ + stars: | 2024-04-01 | by ( Michael Bloom | ) www.cnbc.com time to read: +7 min

Morgan Stanley initiates Compass Pathways at overweight Morgan Stanley said in its initiation of Compass that it's bullish on shares of the mental health biopharma company. Morgan Stanley reiterates Taiwan Semiconductor as overweight Morgan Stanley said it's standing by its overweight rating on shares of TSM. Morgan Stanley reiterates Delta as a top pick Morgan Stanley said Delta's push into "premium" will reward investors. Bank of America reiterates Micron as buy Bank of America said it sees further share gains for Micron. Morgan Stanley reiterates Planet Fitness as overweight Morgan Stanley said it's standing by its overweight rating on the fitness company.

Persons: Jefferies, Goldman Sachs, Goldman, it's, it's bullish, Hunt, Werner, Robinson, Morgan Stanley, Delta, Wells, Evercore, Bill, Tesla, Oppenheimer, Sweetgreen, Baird downgrades, Baird, Tommy Bahama Organizations: Microsoft, Barclays, Barclays downgrades J.B, J.B, C.H, Taiwan Semiconductor, DAL, " Bank of America, Nvidia, Broadcom, Bank of America, Micron, Devon Energy, Bloom Energy, Energy, Disney, underperform Bank of America, Baird downgrades Fifth, Bancorp, Royal Caribbean, Citi, Citigroup Inc, Royal Caribbean Cruises Ltd, TPG Inc, TPG, TE Connectivity, Chevron Corp, Citi downgrades Oxford Industries Locations: TSM, Wells Fargo, Devon, F1Q, Cincinnati, Royal, Oxford

☆ Mark Zuckerberg has had quite the week
▼ + stars: | 2024-02-02 | by ( Dan Defrancesco | ) www.businessinsider.com time to read: +5 min

In today's big story, we're recapping earnings from three tech giants: Meta, Apple, and Amazon. The big storyMeta's mega-winMark Zuckerberg is smiling: Its profit margins are much improved — and that's partly because of a shrinking headcount. Josh Edelson/AFP/Getty Images ; Isabel Fernandez-Pujol/ BIMark Zuckerberg has had quite the week. It lost $16 billion on the Metaverse in 2023, and Zuckerberg indicated more pain for years to come.) Following the success of Meta's "Year of Efficiency," Zuckerberg said that the company may never go back to large-scale hiring.

Persons: —, Phil doesn't, Zuck, Mark Zuckerberg, Josh Edelson, Isabel Fernandez, Sarah Jackson, Meta, Zuckerberg, BI's Peter Kafka, Peter, Richard Drew, Wall Street's, Rufus, BI's Eugene Kim, Amazon, Aaron Schwartz, Diem, Dan DeFrancesco, Hallam Bullock, Jordan Parker Erb Organizations: Service, Apple, Business, Getty, Pujol, Meta, Amazon, Xinhua, Microsoft, Chevron Corporation, ExxonMobil, Cigna Locations: AFP, China, New York, London

☆ 10 of our stocks report earnings next week. Here's what we want to see from each
▼ + stars: | 2024-01-27 | by ( Zev Fima | ) www.cnbc.com time to read: +16 min

All three major averages posted gains for the third consecutive week, lifted by solid quarterly earnings and positive economic data. Earnings season ramps up next week, with five of the Super Six mega-cap stocks delivering results. Employment numbers are the most important economic data, with Friday's January nonfarm payrolls report carrying the most weight. The January ISM Manufacturing report on Thursday and December's factory orders report Friday are expected to show the sector still in contraction mode. But earnings and commentary this week from peer Sartorious made us encouraged about a return to growth in 2024.

Persons: nonfarm, December's, Sartorious, We've, Stanley Black, Decker, We're, We'd, Royal Philips, Crane, Woodward, ServisFirst, Cadence Bancorporation, CADE, Johnson, Phillips, Avery Dennison, Columbus McKinnon, Robinson, SIRI, Cardinal Health, Parker, DOV, Pitney Bowes, Ferrari N.V, CSW, COLM, W.W, Grainger, Dwight Co, Jim Cramer's, Jim Cramer, Jim, Tim Cook, Justin Sullivan Organizations: Gross, Procter, Gamble, Gillette, Super, Consumer, JPM Healthcare, Amazon, Microsoft, Honeywell, Aerospace, Solutions, Apple Watch, Masimo, Vision Pro, Franklin Resources, Resource Partners, Bank of Marin Bancorp, Bank7 Corp, Pacific Premier Bancorp Inc, Provident Financial Holdings, Dynex, Cliffs Inc, Nucor Corp, Whirlpool Corp, F5 Networks, Capital Southwest Corp, Harbors Investment Corp, Crane Co, Payne, Equity, Heartland Financial, Cadence, FinWise Bancorp, Five Star Bancorp, PotlatchDeltic Corporation, Sanmina Corporation, Pfizer, General Motors Corp, United Parcel Service, JetBlue Airways Corporation, Smith Corp, Marathon Petroleum Corp, HCA Healthcare, Oshkosh Corporation, SYSCO Corp, Danaher Corp, Johnson Controls, M.D.C . Holdings, Commvault Systems Inc, Hope Bancorp, Hubbell Incorporated, Malibu Boats, Polaris Industries, Inc, Camden National Corp, Cambridge Bancorp, Microsoft Corp, Starbucks Corp, Devices, Electronic Arts Inc, Juniper Networks, Stryker Corp, Lending, Canadian, Canadian Pacific Kansas City Limited, Mondelez, Chubb Corporation, Modine Manufacturing, Partners, Management, Hawaiian Holdings, Manhattan Associates, Unum Group, UNM, Axos, Enova, Boston Properties, Boeing Co, Novo Nordisk, Mastercard Inc, Roper Technologies, Boston Scientific Corporation, MarketAxess Holdings, Fisher, Aptiv PLC, Hess Corp, Nasdaq, United Microelectronics Corp, Rockwell Automation, Teva Pharmaceutical Industries, Ltd, Avery, Avery Dennison Corp, Extreme Networks, Otis Worldwide Corporation, OTIS, Columbus, Columbus McKinnon Corp, Central Pacific Financial Corp, Brinker International, Fortive Corporation, Qualcomm, Technology, Metlife, Hanover Insurance, Barn Holdings, CONMED Corporation, DLH Holdings Corp, Meritage Homes Corporation, Honeywell International, Eaton Corp, Altria, Royal Caribbean Cruises Ltd, Merck, Co, Enterprise Products Partners, Dorian LPG, SiriusXM Holdings, Cardinal, Hannifin Corporation, Allegheny Technologies Incorporated, Tractor Supply Company, Trane Technologies, Dover Corp, Huntington Ingalls Industries, Brunswick Corporation, Dickinson, Canada Goose Holdings, Kirby Corp, WEC Energy Group, WestRock Company, Allegro MicroSystems, Ball Corporation, Broadridge Financial, BrightSphere Investment Group, CMS Energy Corp, Lancaster Colony Corp, Rogers Communications Inc, Sanofi, Apple, Atlassian Corporation, United States Steel Corp, Corp, Adtalem Global, Homes, DXC Technology Company, Eastman Chemical Company, Gen, Post Holdings, America, Columbia Sportswear Company, Exxon Mobil Corp, Chevron Corporation, Myers Squibb Co, CIGNA Corp, Regeneron Pharmaceuticals, Charter Communications, AON, Cboe, Dwight, Banco Santander, Jim Cramer's Charitable, CNBC, Apple Vision, Getty Locations: China, East, United States, Europe, Cleveland, Alexandria, California, Corning, Canadian Pacific, Teradyne, TER, Novo, Hanover, PBI, Skechers U.S.A, Bristol, Chile

☆ Oil climbs as Mideast tension back in focus
▼ + stars: | 2023-12-04 | by ( ) www.cnbc.com time to read: +2 min

Oil futures rose on Monday as geopolitical tension in the Middle East returned to focus, spurring concerns about supply from the region, but uncertainty over OPEC+ voluntary output cuts and global fuel demand growth clouded the sector's outlook. Brent crude futures climbed 28 cents, or 0.4%, to $79.16 a barrel by 0018 GMT, while U.S. West Texas Intermediate crude futures were at $74.36 a barrel, up 29 cents, or 0.4%. "A re-emergence of geopolitical tension over the weekend has come to the aid of an ailing crude oil price on the reopen this morning," IG markets analyst Tony Sycamore said. The resumption of the Israel-Hamas war fueled the bullish momentum for oil prices, CMC Markets analyst Tina Teng said. "However, oil prices may continue to be under pressure for the time being due to China's disappointing economic recovery and the ramp-up of U.S. production," Teng said.

Persons: Brent, Tony Sycamore, Israel's, Tina Teng, Teng, Baker Hughes, Mike Tran Organizations: Chevron Corporation, U.S, West Texas, IG, CMC, Organization of, Petroleum, RBC Capital, Washington Locations: San Ardo , California, Middle, Gaza, Israel, U.S, Russia, Moscow, Ukraine, Venezuela, India

☆ Oil and gas industry needs to let go of carbon capture as solution to climate change, IEA says
▼ + stars: | 2023-11-23 | by ( Spencer Kimball | ) www.cnbc.com time to read: +3 min

The Gorgon liquefied natural gas (LNG) and carbon capture and storage (CCS) facility, operated by Chevron Corp., on Barrow Island, Australia, on Monday, July 24, 2023. The oil and gas industry needs to let go of the "illusion" that carbon capture technology is a solution to climate change and invest more in clean energy, the head of the International Energy Agency said Thursday. Just 1% of global investment in clean energy has come from oil and gas companies, according to Birol. The industry needs to face the "uncomfortable truth" that a successful clean energy transition will require scaling back oil and gas operations, not expanding them, the IEA chief wrote. One of the major pitfalls in the energy transition is excessive reliance on carbon capture, according to the report.

Persons: Fatih Birol, Birol, Hess Organizations: Chevron Corp, International Energy Agency, United Nations, IEA, Exxon Mobil, Chevron, Shell, BP, Exxon, Resources Locations: Barrow Island, Australia, Dubai

☆ The Best Savings Accounts for Kids and Teens
▼ + stars: | 2023-11-22 | by ( Kerri Anne Renzulli | ) www.wsj.com time to read: +11 min

Best overallCapital One Kids Savings Account Learn MoreAge to open: under 18Interest rate: 2.5%, with no cap$0 to openNo maintenance feesWhy we picked it:Capital One’s Kids Savings Account delivers everything a parent could want in a place to stash their child’s funds: It’s easy to use, fee-free, and generously rewards kid savings of any size. On your child’s 13th birthday, the account will be converted into a MyLife Teen Checking or MyLife Savings account. Older savers should consider our best overall pick, the Capital One Kids Savings Account, or our choice for best teen savings account, the MySavings Youth Account from Chevron Financial Credit Union and Spectrum Credit Union. For instance, a kid with $2,500 in the account would net $81 in a year vs. only $63 with Buy Side from WSJ’s best overall pick, Capital One’s Kids Savings account. Also worth noting: Alliant’s adult offering, the High-Rate Savings account, is Buy Side from WSJ’s top choice for a credit union savings account thanks to its identical 3.1% payout and lack of fees.

Persons: Kerri Anne Renzulli, don’t, One’s, USAlliance, Best, Foster, Alliant, Cookie, Elmo Organizations: Capital, Capital One’s, Financial, Union MyLife Savings, Savings, Kids, American Consumer Council, Chevron Financial Credit Union, Spectrum Credit Union, Chevron Federal Credit Union, Chevron Corporation, Bechtel Corporation, Federal, Foster Care, Bank, PNC Bank’s, PNC, D.C Locations: Washington

[1/5] Stephan Feldgoise, co-head of global M&A for of Goldman Sachs, speaks at the ReutersNEXT Newsmaker event in New York City, New York, U.S., November 8, 2023. This has fueled soul-searching among investment bankers about the prospects for their business. "I'm reasonably bullish that this will return, but obviously it will be in fits and starts." "Our (deal pipelines) are at one of the largest levels that you've seen in five-six years. Reporting by Anirban Sen in New York; Editing by Chizu NomiyamaOur Standards: The Thomson Reuters Trust Principles.

Persons: Stephan Feldgoise, Goldman Sachs, Brendan McDermid, Goldman, Steven Baronoff, Anu Aiyengar, Aiyengar, Anthony Kim, Kim, Michal Katz, Katz, Anirban Sen, Chizu Organizations: REUTERS, Goldman Sachs Group Inc, Reuters NEXT, Federal Reserve, Bank of America, Chevron Corp, Hess Corp, Exxon Mobil Corp, Natural Resources, JPMorgan Chase &, Microsoft Corp, Illumina Inc, Centerview Partners, Greenhill, Co Inc, Thomson Locations: New York City , New York, U.S, East, Ukraine, Americas, United States, New York

☆ US Senator Schumer urges FTC to probe Exxon, Chevron mega-deals
▼ + stars: | 2023-11-01 | by ( ) www.reuters.com time to read: +2 min

Earlier this month, Exxon proposed to buy Pioneer Natural Resources (PXD.N) for $60 billion and Chevron agreed to acquire Hess (HES.N) for $53 billion. The Democratic Senate leader said in a letter that the two of the largest oil and gas deals of this century are "likely to harm competition." Chevron and Exxon have accumulated huge profits from strong energy prices and demand since Russia's invasion of Ukraine. The oil industry last went through an era of major consolidation in the late 1990s when Exxon, Shell (SHEL.L), BP (BP.L) and France's TotalEnergies (TTEF.PA) merged with rivals to create huge integrated companies. The acquisitions followed a collapse in oil prices that weakened many companies.

Persons: Dado Ruvic, Charles Schumer, Hess, Schumer, France's, Tanay Dhumal, Arunima Kumar Organizations: ExxonMobil, Pioneer, REUTERS, U.S, Wednesday, U.S . Federal Trade Commission, Exxon Mobil, Chevron Corp, Exxon, Natural Resources, Chevron, Democratic, Shell, BP, FTC, Big, Thomson Locations: Ukraine, United States, Bengaluru

We continue to encourage all countries to take tangible measures to halt the flow of arms, aviation fuel, and revenue to the military regime," U.S. Secretary of State Antony Blinken said in a separate statement. Canada imposed sanctions against 39 individuals and 22 entities for supporting Myanmar's military regime. The U.N. human rights expert for Myanmar in September called on the United States to further tighten sanctions on the country's military rulers to include the state oil and gas enterprise. Human rights advocates have repeatedly called for sanctions on MOGE, but Washington had so far held back. Myanmar military officials have played down the impact of sanctions.

Persons: Stringer, Washington, Antony Blinken, Brian Nelson, Simon Lewis, Daphne Psaledakis, Tim Gardner, Sarah Young, Ismail Shakil, Chizu Nomiyama, Rod Nickel Organizations: Army, Bank, REUTERS, Rights, Myanma, Gas Enterprise, U.S . Treasury Department, Reuters, Treasury, Financial, United Nations, Terrorism, Financial Intelligence, Chevron Corp, Chevron, Washington, Myanmar Foreign Trade Bank, Myanma Investment, Commercial Bank, Sky Royal Hero Company, General Staff, Myanmar's Army, Navy, Air Force, Thomson Locations: Yangon, Myanmar, United States, Washington, U.S, United Kingdom, Canada, Britain

☆ Morning Bid: Amazon and goldilocks ride to the rescue
▼ + stars: | 2023-10-27 | by ( ) www.reuters.com time to read: +6 min

Unlike the reaction to similarly decent results from some of its Big Tech peers this week, shares in the online retail giant Amazon climbed 5% after hours. And both Nasdaq and S&P500 futures were set to bounce into the weekend later after the cash markets closed at their lowest since May. With nominal U.S. growth running at close to 8%, depending on which inflation gauge you use, the heat is impressive. And even the racy headline GDP growth rate was below many assumptions of a 5%-plus print. That bond relief has perhaps flattered the overnight stocks bounce - although on aggregate the earnings season is pretty decent too.

Persons: Brendan McDermid, Mike Dolan, megacaps, Wang Yi, crumb, Sanofi, TRowe Price, Stanley Black, Decker, CBRE, Christine Lagarde, Jane Merriman Organizations: Chevron Corp, Hess Corp, New York Stock Exchange, REUTERS, Amazon, Big Tech, Nasdaq, Treasury, Federal Reserve, Fed, Big, Exxon Mobil, Chevron, Apple, of Japan, European Central Bank, Britain's NatWest, Financial, Authority, University of Michigan, Colgate, Palmolive, Xcel Energy, Charter Communications, Phillips, Central Bank, European Union Summit, Reuters Graphics Reuters, Reuters, Thomson Locations: New York City, U.S, United States, China, Syria, Europe, Dallas, Abbvie, LyondellBasell, Brussels

☆ Exclusive: ConocoPhillips weighs CrownRock bid to challenge rivals
▼ + stars: | 2023-10-26 | by ( David French | ) www.reuters.com time to read: +2 min

CrownRock's investment bankers have asked interested parties to submit initial offers next week, two of the sources added. Diamondback Energy (FANG.O), Devon Energy (DVN.N), Marathon Oil (MRO.N) and Continental Resources are also studying potential bids for CrownRock, the sources said. The company is led by Texas billionaire businessman Timothy Dunn and backed by private equity firm Lime Rock Partners. Bloomberg News reported last week that Devon was considering a bid for CrownRock, and that Devon has also held preliminary talks about a tie-up with Marathon. Reporting by David French in New York; Editing by Greg Roumeliotis and Christian SchmollingerOur Standards: The Thomson Reuters Trust Principles.

Persons: Chris Helgren, CrownRock, Timothy Dunn, Conoco, Devon, David French, Greg Roumeliotis Organizations: ConocoPhillips, REUTERS, Houston, Exxon Mobil Corp, Chevron Corp, Diamondback Energy, Devon Energy, Continental Resources, CrownRock, Marathon Oil, Continental, Diamondback, Exxon, Natural Resources, Chevron, Hess Corp, Lime Rock Partners, EOG Resources, Devon, Bloomberg News, Marathon, Reuters, Thomson Locations: Vancouver , British Columbia, Canada, Texas, Conoco, Devon, Midland, Marathon, New York

☆ Chevron target Hess beats quarterly profit estimates on production boost
▼ + stars: | 2023-10-25 | by ( ) www.reuters.com time to read: +2 min

New York-based Hess's net production was 395,000 barrels of oil equivalent per day (boepd) in the quarter, compared to 351,000 boepd a year earlier. The company forecast production to be around 410,000 boepd in the fourth quarter. Hess said its worldwide average realized crude oil selling price, excluding hedges, was $81.53 per barrel in the quarter, compared to $71.13 in the preceding quarter and $85.32 a year earlier. Production from Guyana totaled 108,000 boepd, 10% higher compared with the prior-year quarter. Production at the Stabroek oil block is expected to triple to more than 1.2 million barrels per day (bpd) by 2027.

Persons: Dado Ruvic, Hess, China's CNOOC, Seher, Sriraj Organizations: REUTERS, Companies Chevron Corp, Hess Corp, Wednesday, Wall, Chevron Corp, Chevron, Exxon Mobil, HK, Thomson Locations: New York, Guyana, North Dakota, U.S, Bengaluru

NEW YORK (AP) — Chevron is buying Hess Corp. for $53 billion and it’s not even the biggest acquisition in the energy sector this month as major producers seize the initiative while oil prices surge. Chevron said Monday that the acquisition of Hess adds a major oil field in Guyana as well as shale properties in the Bakken Formation in North Dakota. Hess shareholders will receive 1.0250 shares of Chevron for each Hess share. The boards of both companies have approved the Hess deal, which is targeted to close in the first half of next year. Shares of Chevron Corp., based in San, Ramon, California, declined more than 3% before the opening bell Monday.

Persons: Hess, China’s CNOOC, John Hess Organizations: Chevron, Hess Corp, Exxon Mobil, Natural Resources, China’s, Hess, Chevron Corp Locations: Russia, Ukraine, Guyana, North Dakota, American, Qatar, United States, Mexico, Norway, South America, Australia, San, Ramon , California, New York City

☆ VIEW Chevron to buy Hess Corp for $53 bln in all-stock deal
▼ + stars: | 2023-10-23 | by ( ) www.reuters.com time to read: +4 min

A 3D printed natural gas pipeline is placed in front of displayed Chevron logo in this illustration taken Feb. 8, 2022. The transaction might also create a peculiar coexistence of the United States' two leading oil majors in Guyana... Hess is geared towards crude production, with oil accounting for 60% of its current output which fits in very nicely with Chevron's similarly oil-focused portfolio. On the deal itself, the Chevron-Hess merger is expected to have a significant impact on the shale oil industry with Chevron becoming the second-largest shale producer in the United States. The merger is also likely to lead to increased M&A and industry consolidation in the North America shale sector.

Persons: Dado Ruvic, bode, Hess, John Hess, PETER MCNALLY, VIKTOR KATONA, KPLER Hess, Chevron, ROBIN HELANDER, Seher Dareen, Ron Bousso, Dmitry Zhdannikov, Mark Potter Organizations: Chevron, REUTERS, Chevron Corp, Hess Corp, Exxon Mobil, ROYAL, Third, Natural Resources, Hess, Thomson, & $ Locations: Guyana, Chevron, North Dakota, United States, North America

Rolling back Trump-era sanctions, U.S. officials issued general licenses for Venezuela's oil, gas and mining sectors in response to a deal between Venezuelan President Nicolas Maduro and the county's opposition on the 2024 presidential election. SLOW RECOVERYThe sanctions relief authorizes the production, sale and export of Venezuela's crude and gas, while keeping a ban on business with Russia. Since the U.S. imposed secondary oil sanctions on Venezuela in 2020, PDVSA had been unable to fulfill its supply contracts to clients in regions from Europe to Asia. An individual authorization to Chevron Corp (CVX.N) allowed the return of Venezuela's crude to the United States this year. Area chart shows data from U.S. EIA showing Venezuela crude oil production.

Persons: Leonardo Fernandez Viloria, Francisco Monaldi, Rice University's, Nicolas Maduro, Joe Biden, Monaldi, PDVSA, Baker Hughes, Maduro, Marianna Parraga, Julia Symmes Cobb, David Gregorio, William Mallard Organizations: REUTERS, Rights, South, Rice University's Baker Institute ., Trump, Venezuelan, OPEC, U.S, Chevron Corp, U.S Chevron, Eni, EIA, Thomson Locations: Jusepin, Venezuela, South American, U.S, American, Russia, Iran, Europe, Asia, United States, Trinidad and Tobago, China, Caribbean

ExxonMobil and Pioneer Natural Resources logos are seen in this illustration taken, October 8, 2023. Pioneer shares closed at $237.41 on Tuesday, having risen 11% since the first reports of a deal surfaced last Thursday. Exxon declined to comment on "market speculation," while Pioneer did not immediately respond to a request for comment. It is the third-largest oil producer in the Permian basin, after Chevron Corp (CVX.N) and ConocoPhillips (COP.N), with rock-bottom production costs averaging about $10.50 per barrel of oil and gas. Under CEO Scott Sheffield, the oil producer grew through rapid-fire purchases, including multi-billion dollar deals in 2021 for DoublePoint Energy and Parsley Energy.

Persons: Dado Ruvic, Darren Woods, Scott Sheffield, Exxon's, Shubhendu, Anirban Sen, Sabrina Valle, Gary McWilliams, Rashmi Aich, Jamie Freed Organizations: ExxonMobil, Pioneer, REUTERS, Exxon Mobil, Natural Resources, Exxon, Mobil Oil, Antitrust, Reuters, Exxon socked, Chevron Corp, ConocoPhillips, DoublePoint Energy, Parsley Energy, BG Group, Bloomberg News, Denbury Inc, Denbury, Shubhendu Deshmukh, Thomson Locations: HOUSTON, Ukraine, U.S, Bengaluru, New York, Houston

[1/2] The sun sets behind a crude oil pump jack on a drill pad in the Permian Basin in Loving County, Texas, U.S. November 24, 2019. The acquisition would be Exxon's biggest since its $81 billion deal for Mobil in 1998 and would expand its footprint in one of the most lucrative regions of the U.S. oil patch. Pioneer, which had a market value as of Thursday of $50 billion, is the third-largest producer of oil in the Permian basin after Chevron Corp (CVX.N) and ConocoPhillips (COP.N). Exxon produced about 620,000 boed in the Permian basin in the second quarter, a record for the company. Chevron Corp (CVX.N), for example, agreed in May to acquire shale producer PDC Energy Inc in a stock-and-debt transaction worth $7.6 billion.

Persons: Angus Mordant, Bill Smead, Exxon, Scott Sheffield, Richard Dealy, David French, Anirban Sen, Sabrina Valle, Greg Roumeliotis, Lincoln, Kim Coghill Organizations: REUTERS, Exxon Mobil, Natural Resources, Mobil, Chevron Corp, ConocoPhillips, Exxon, Pioneer, Street Journal, Smead Capital Management, Energy Inc, DoublePoint Energy, Parsley Energy, Thomson Locations: Loving County , Texas, U.S, Texas, New Mexico, Ukraine, dealmaking, Dallas, New York, Houston

[1/2] The sun sets behind a crude oil pump jack on a drill pad in the Permian Basin in Loving County, Texas, U.S. November 24, 2019. The acquisition would be Exxon's biggest since its $81 billion deal for Mobil in 1998 and would expand its footprint in one of the most lucrative regions of the U.S. oil patch. Pioneer, which had a market value as of Thursday of $50 billion, is the third-largest producer of oil in the Permian basin after Chevron Corp (CVX.N) and ConocoPhillips (COP.N). If the negotiations conclude successfully, an agreement between Exxon and Pioneer could be reached in the coming days, the three sources said, asking not to be identified because the matter is confidential. Exxon produced about 620,000 boed in the Permian basin in the second quarter, a record for the company.

Chevron/Handout via REUTERS Acquire Licensing RightsCompanies Chevron Corp FollowOct 5 (Reuters) - Chevron (CVX.N) has "reneged" on commitments made to Australia's industrial tribunal, unions representing workers at its two local liquefied natural gas (LNG) sites said on Thursday, weeks after both sides struck a tentative deal to end major strikes. Workers called off strikes less than two weeks ago after unions and Chevron accepted proposals on pay and conditions proposed by the country's industrial arbitrator. However, the Offshore Alliance, a coalition of two unions, said Chevron had "reneged" on its commitments. Members would meet on Thursday and Friday to discuss the issue, according to a statement posted on Thursday to social media. A union representative who declined to be named said they would recommend workers serve Chevron notice of intent to resume strikes.

Persons: Lewis Jackson, Urvi, Kim Coghill, Sonali Paul Organizations: Reuters, Chevron, Handout, REUTERS Acquire, Companies Chevron Corp, Workers, Offshore Alliance, Commission, Thomson Locations: Wheatstone, Western Australia, Sydney, Bengaluru

A general view of Chevron's Wheatstone LNG facility in Pilbara coast, Western Australia, as seen in this undated handout image obtained by Reuters on September 8, 2023. Workers called off strikes less than two weeks ago after unions and Chevron accepted proposals on pay and conditions proposed by the country's industrial arbitrator, the Fair Work Commission. However, the Offshore Alliance, a coalition of two unions, on Thursday said Chevron had "reneged" on its commitments. A union representative who declined to be named said they would recommend workers serve Chevron notice of intent to resume strikes. Chevron and unions had made progress drafting the agreement, but differences remained over issues like reimbursement for meals or travel for training, according to a second union representative involved in the negotiations.

Persons: Weeks, Lewis Jackson, Urvi, Kim Coghill, Sonali Paul Organizations: Reuters, Chevron, Handout, REUTERS Acquire, Companies Chevron Corp, Workers, Offshore Alliance, Commission, Thomson Locations: Wheatstone, Western Australia, U.S, Sydney, Bengaluru

Cain's Sept. 22 order had been celebrated by the oil and gas industry, which had sued in August alongside the state of Louisiana over an earlier decision by the Interior Department to scale back the auction. Representatives for the Interior Department, environmental groups, the Louisiana attorney general's office and the American Petroleum Institute did not immediately respond to requests for comment. The Interior Department finalized plans for a reduced lease sale in August, after last year's Inflation Reduction Act mandated the auction move forward. The sale made about 67 million acres in the Gulf available for bids. Those groups had claimed the whales can be harmed or killed by oil spills, vessel strikes, noise, marine debris and other impacts of oil and gas exploration and development.

Persons: Biden, James Cain's, Joe Biden, Nichola Groom, Clark Mindock, Sandra Maler, Alexia Garamfalvi, Richard Chang Organizations: Chevron Corp, Monday, Circuit, U.S . Interior Department, Interior Department, U.S, District, of Ocean Energy Management, American Petroleum Institute, Democratic, Thomson Locations: Gulf of Mexico, New Orleans, Louisiana, U.S

A woman walks in the Chevron office as the U.S. government granted a six-month license allowing Chevron to boost oil output in U.S.-sanctioned Venezuela, in Caracas, Venezuela December 2, 2022. Current oil flows mark a 70%-increase from average output in 2022. But to go further requires large specialized drilling rigs that might be difficult to find in Venezuela, the people said. The California-based company's campaign calls for addition of at least two powerful drilling rigs. Other foreign oil companies in joint ventures with PDVSA also have begun early planning for possible drilling campaigns.

Persons: Gaby Oraa, Petropiar, PDVSA, Chevron, Marianna Parraga, Sabrina Valle, Matt Spetalnick, David Gregorio Our Organizations: Chevron, REUTERS, Companies, Chevron Corp, OPEC, Treasury, U.S . Office, Foreign Assets, U.S, PDVSA, Thomson Locations: Venezuela, Caracas, HOUSTON, Washington, The California, Lake Maracaibo, U.S

☆ California sues oil giants for downplaying risks posed by fossil fuels
▼ + stars: | 2023-09-16 | by ( ) www.reuters.com time to read: +2 min

A general view of oil drilling equipment on federal land near Fellows, California, U.S., April 15, 2023. The American Petroleum Institute, an industry trade group, has also been listed as a defendant in the case, according to the filing. California has sought the creation of an abatement fund to pay for future damages caused by climate-related disasters in the state, the filing showed. Sharing a similar sentiment, Shell said in an emailed statement, "We do not believe the courtroom is the right venue to address climate change." California Governor Gavin Newsom, said in a post on X, formerly known as Twitter, "California is taking action to hold big polluters accountable."

Persons: Nichola, Shell, Gavin Newsom, ConocoPhillips didn't, Kanjyik Ghosh, Lavanya, Nate Raymond, Mark Potter, Diane Craft Organizations: REUTERS, Rights, Chevron Corp, Conocophillips, Exxon Mobil Corp, Shell PLC, BP, ConocoPhillips, American Petroleum Institute, Reuters, Chevron, Exxon Mobil, Thomson Locations: Fellows , California, U.S, California, San Francisco, United States, Bangalore, Boston

☆ California sues oil giants for downplaying risks posed by fossil fuels - NYT
▼ + stars: | 2023-09-16 | by ( ) www.reuters.com time to read: +2 min

A general view of oil drilling equipment on federal land near Fellows, California, U.S., April 15, 2023. REUTERS/Nichola Groom/File Photo Acquire Licensing RightsCompanies Bp Plc FollowChevron Corp FollowConocophillips Follow Show more companiesSept 16 (Reuters) - The state of California has sued major oil companies including Exxon Mobil Corp (XOM.N), Shell PLC (SHEL.L), and Chevron Corp (CVX.N), accusing them of playing down the risks posed by fossil fuels, the New York Times reported on Friday. The American Petroleum Institute, an industry trade group, has also been listed as a defendant in the case, the report said, adding that California has sought the creation of an abatement fund to pay for future damages caused by climate related disasters in the state. The legal action follows dozens of lawsuits filed in recent years against the fossil fuel industry by states and municipalities across the United States broadly alleging harms from climate impacts including extreme weather. Reporting by Kanjyik Ghosh in Bangalore; additional reporting by Lavanya Ahire; editing by Mark PotterOur Standards: The Thomson Reuters Trust Principles.

Persons: Nichola, Kanjyik Ghosh, Lavanya, Mark Potter Organizations: REUTERS, Rights, Chevron Corp, Conocophillips, Exxon Mobil Corp, Shell PLC, New York Times, BP, ConocoPhillips, American Petroleum Institute, Congress, Shell, Exxon Mobil, Thomson Locations: Fellows , California, U.S, California, San Francisco, United States, Chevron, Bangalore

☆ Chevron Australia LNG workers escalate strikes, 24-hour stoppages possible
▼ + stars: | 2023-09-14 | by ( ) www.cnbc.com time to read: +2 min

The Gorgon liquefied natural gas (LNG) and carbon capture and storage (CCS) facility, operated by Chevron Corp., on Barrow Island, Australia, on Monday, July 24, 2023. Workers at Chevron's two liquefied natural gas (LNG) projects in Australia plan to escalate industrial action from Thursday to anything from a total strike to hours-long work stoppages, their union said, increasing the risk of disrupted output from facilities accounting for over 5% of global supply. Workers at the Gorgon and Wheatstone facilities have been stopping work briefly for the past six days, after talks with Chevron over wages and working conditions broke down. The unions had said they would ratchet the pressure on the company from Thursday, possibly by completely stopping work. "We are strategically assessing the protected industrial action we need to take every 12 hours and will continue to escalate at times which align with our industrial strategy."

Persons: Wheatstone Organizations: Chevron Corp, Workers, Chevron, Traders Locations: Barrow Island, Australia, Asia

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