Natural gas investors applauded a move by energy giant Chevron to buy a stake in, and operate, a proposed liquid natural gas project on Canada’s British Columbia coast.
Articles Tagged "NYSE:CVX"
The Globe and Mail reported that Chevron Corp. (NYSE:CVX) has agreed to take 50-percent ownership of Kitimat LNG by buying the minority positions held by Encana Corp. (TSX:ECA,NYSE:ECA) and EOG Resources Inc. (NYSE:EOG). The move places Chevron at the helm of the project and brings it closer to becoming a reality.
Apache Corporation (NYSE:APA, NASDAQ: APA) announced that it has signed an agreement with Chevron Canada Limited to build and operate the Kitimat LNG project and develop world-class shale gas resources at the Liard and Horn River basins located in B.C.
The Wall Street Journal reported that Chevron Corp. (NYSE:CVX) paid a $17.3 million fine for irregularities related to a 2011 oil spill off the coast of Rio de Janeiro.
Reuters reported that Chevron (NYSE:CVX) and YPF SA (NYSE:YPF) have signed a memorandum of understanding to explore for natural gas and shale oil in Argentina's Vaca Muerta field. Repsol SA, which had its stake in YPF seized by the Argentinian government earlier this year, plans to take legal action against Chevron.
As support for ethanol wanes, algae-based biofuels are beginning to attract interest from some heavy-hitters in the energy industry.
Although overshadowed by the Alberta oil sands, offshore drilling on Canada’s east coast holds some interesting prospects.
The Bedford Report released research on BP PLC (NYSE:BP) and Chevron (NYSE:CVX).
In an exclusive interview, Bob Sewell, President of Bellwether Investment Management indicated, "While higher oil prices may result in some increase in natural gas prices, the reality is that natural gas supply is so abundant with additional supply coming on line regularly we don’t see this imbalance resolving itself anytime soon."
Bloomberg reports that Chevron Corp (NYSE:CVX) announces offshore drilling operation close to Western Australia has encountered natural gas deposits.