Chevron plans $7 billion Venezuela investment to double oil production
Chevron, the only U.S. oil company operating in Venezuela, said it has received additional land in the Orinoco Belt region and plans to double its oil production.
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Chevron, the only U.S. oil company operating in Venezuela, said it has received additional land in the Orinoco Belt region and plans to double its oil production.
America's biggest oil companies are reporting massive profits as the Iran war continues to disrupt global energy supplies. CBS News business contributor Javier David joins with analysis.
Earnings reports for Exxon Mobil and Chevron showed a decrease in profits during the last fiscal quarter due to Iran war disruptions. Despite the loss on paper, both U.S. oil giants topped Wall Street expectations when it came to revenue for the three month period ending March 31. CBS News business contributor Javier David has more.
Commercial vessels face risks from mines and threats from land, Chevron's chief executive Mike Wirth said in an interview with "Face the Nation" moderator Margaret Brennan.
Chevron CEO Mike Wirth spoke with "Face the Nation" moderator Margaret Brennan about what he would need to see to feel confident sending a ship through the Strait of Hormuz.
The war with Iran is disrupting global oil and gas supplies, sending prices skyrocketing. CBS News chief foreign affairs correspondent and "Face the Nation" moderator Margaret Brennan spoke with Chevron CEO Mike Wirth about the economic impact.
Travelers could see airline fares rise and fewer flights available in the coming weeks, Chevron CEO Mike Wirth said in an interview with "Face the Nation with Margaret Brennan."
"Flights may not be as abundant as they otherwise would have been," Chevron CEO Mike Wirth told Margaret Brennan. "I think planes will probably be more full than they would have been. And yes, fares, fares could be higher."
Lilia Luciano traveled to Chevron's largest oil refinery on the Mississippi coast and spoke to Andy Walz, a president of the company, about what people at home can do to avoid high gas prices.
Venezuelan oil shipped to the U.S. is providing relief from higher prices caused by the Iran war, according to a senior Chevron executive.
Andy Walz, Chevron's president of downstream, midstream and chemicals, told CBS News' Lilia Luciano that the energy giant is bringing in Venezuelan crude oil to help lower costs driven up by the Iran war.
President Trump met with major oil industry executives Friday afternoon as he pushes U.S. oil companies to invest in Venezuela.
Trump administration officials are set to meet with representatives from Chevron, ConocoPhillips and Exxon to discuss Venezuela, two sources tell CBS News. Aaron Navarro reports.
Shares in Chevron, Exxon and other energy companies climbed, while oil prices jumped, on Monday after Maduro's ouster.
Emergency services say crews have extinguished a fire at a Chevron refinery in El Segundo, California. CBS News national correspondent Carter Evans has the details.
The Supreme Court ruled 6-3 Thursday to overturn a 40-year-old decision that had given federal agencies broad regulatory power, curtailing the agencies' ability to enforce regulations. Former federal prosecutor Scott Fredericksen joined CBS News to discuss the decision and attorney and CBS News campaign reporter Katrina Kaufman has more on the cases still on the court's docket.
The Supreme Court is putting the power of federal agencies on the chopping block. The latest case before the justices could forever change the way the government operates. Craig Green, law professor at Temple University, joins CBS News to explain.
Chevron's purchase of Hess for $53 billion is the second energy industry megadeal this month amid a surge in oil prices.
Record profits and a growing climate crisis have renewed calls for a tax on fossil-fuel companies.
Chevron announced roughly $36 billion in profits during 2022, setting an all-time high for the company. This follows a $75 billion stock buyback from the oil giant. Host of "TheStreet" J.D. Durkin joined CBS News to discuss why big oil had such a profitable year and what 2023 holds for the industry.