Chevron filed an appeal with Ecuador's National Court to review a ruling that it must pay billions of dollars in damages for oil pollution in the Amazon rain forest.
An Ecuadorian appeals court upheld an $8.6 billion ruling against oil giant Chevron stemming from claims that the company had a detrimental impact on Amazonian communities where it operated.
Brazilian federal prosecutors have filed a suit against Chevron and oil rig operator Transocean Ltd for 20 billion reais, about $11 billion, in response to an oil spill in deep water off the coast of Rio de Janeiro last month.
Brazil on Wednesday suspended Chevron's oil exploration rights in the country until it can explain the cause of a recent oil spill in deep water off the coast of Rio de Janeiro, and its response to the accident.
updated: Thu Nov 24 2011 06:44:00
An oil spill raises questions about Brazil's ambitious offshore drilling plans. CNN's Shasta Darlington reports.
Chevron was fined $28 million for an oil spill off the country's coast and could face further penalties, state media reported on Monday.
Brazil's Federal Police agency said Thursday it's investigating an oil spill at a site off the coast of Rio de Janeiro being explored by the U.S. oil company Chevron.
A judge in Ecuador this week awarded $8.64 billion to Ecuadorian residents of the Amazon who had sued Chevron for years of crude oil pollution, but both sides said Tuesday they will appeal the verdict.
Chevron has vowed to fight a multi-billion dollar judgment from an Ecuadorian court accusing the oil company of polluting the Amazon rainforest.
Life is more than a little interesting for the CFO of a super-major oil company these days. Chevron's Patricia Yarrington is watching her biggest customers -- the world's developed economies -- claw their way out of recession. Yet some economists worry the recovery could fizzle if booming demand from China raises the price of oil too high. The entire industry is changing deeply as most of the world's largest economies focus on reducing carbon emissions and pushing alternative energy. BP's disaster in the Gulf of Mexico puts every giant producer under closer scrutiny and inevitable new regulations. Amid it all, Yarrington has to manage finances in a vast company (No. 11 on the Fortune Global 500) that invests over $20 billion a year.
Chevron Corp., aiming to expand its holdings in the Marcellus Shale natural gas region of Pennsylvania, said Tuesday it will acquire Atlas Energy Inc. for $4.3 billion.
Environmental activists with Greenpeace on Sunday swam in front of a Chevron oil drilling ship in the group's latest effort to prevent the giant vessel from reaching a drill site in the North Sea.
A lawsuit against Chevron in Ecuador, which has become a cause célèbre for environmentalists worldwide, has suffered severe, crippling setbacks in recent months, as key plaintiffs lawyers have come under credible and weighty allegations of fraud.
Now that Chevron has begun sifting through 421 tapes of unreleased footage from a documentary film called Crude -- which a federal appeals court ordered filmmaker Joe Berlinger to turn over to the oil giant three weeks ago -- the sensitive First Amendment issues raised by the case seem to be multiplying, not abating.
Just one day after arguments were heard in an appeals case that pitted documentary filmmaker Joe Berlinger against oil giant Chevron in a dispute over 600 hours of subpoenaed film outtakes, an appeals court has released a preliminary ruling that limits the demands initially set by a federal judge in May.
A federal appeals judge in New York will hear arguments today in what's shaping up to be a key First Amendment case. Joe Berlinger, the filmmaker behind the documentary Crude, is fighting Chevron, which successfully demanded all 600 hours of Berlinger's footage in federal court in May. Berlinger, supported by many media companies and members of the filmmaking community, hopes the appeals court will reverse the ruling and protect the footage under journalist's privilege. For more on this case, see The Media vs. Chevron: Bring It On. Among those most notable in support of Berlinger is Robert Redford, founder of the Sundance Institute and its corresponding Sundance Film Festival and Sundance Channel. He is an outspoken advocate of independent film and environmental issues, and Fortune asked him for his take on the Berlinger case.
Joe Berlinger stands before a packed house at the IFC Center in New York City, joking about his debt of gratitude to Chevron for helping sell out a showing of his 2009 documentary Crude -- even if not for the right reasons.
A hearing to discuss the future of national energy policy in the wake of the Gulf oil disaster got pretty ugly Tuesday.
Chevron Corp., the second largest U.S. oil company, announced on Tuesday that it would cut 2,000 jobs this year amid challenging market conditions.
Stocks fell Tuesday in a broad-based selloff, after Alcoa's worse-than-expected profit report and Chevron's profit warning unnerved investors at the start of the quarterly profit reporting period.
With big oil stocks like Chevron holding their value after last year's market meltdown and crude prices dropping more than $100 a barrel from the summer, both long-term investors and short sellers are sniffing out opportunity.
Oil prices staged a late-session rally Friday as credit markets loosened, but the gain only slightly tempered a month in which crude fell by the largest monthly percentage since the Nymex contracts began trading.
Oil producer BP reported a 63% increase in profits Tuesday to a whopping $7.6 billion. Royal Dutch Shell's first-quarter earnings increased 25% to a record $9.1 billion.
Stocks ended lower Tuesday, erasing session gains, after oil prices settled at a record $100.01 a barrel and gold and other commodities spiked, raising worries about how inflation will impact an already weakened economy.
Oil companies are blamed (unjustly) for high gas prices, loathed for profiting from them, and criticized for their environmental record. So it's no wonder that most industry CEOs have made themselves scarce. Chevron's David O'Reilly is the exception. He regularly talks to reporters and appears on television to answer questions about Chevron and the industry.
updated: Wed Nov 14 2007 18:40:00
Yahoo settles a lawsuit with the families of journalists jailed in China. CNN's Jaime FlorCruz reports
Chevron Corp. said Monday it would add a major gasoline production unit to its oil refining facility in Pascagoula, Miss.
Oil prices jumped almost $2 a barrel Thursday, and neared a new record high, following a surprise drop in U.S. crude inventories, a strike at Chevron's operations in Nigeria and a fire at BP's Alaska oil field.
Enriched by high oil prices, Chevron Corp. will spend up to $15 billion buying back its own stock - a commitment that pleased shareholders and rankled critics clamoring for bigger investments in projects that might help lower energy costs.
Chevron Corp., the second-largest U.S. oil company, said Tuesday it will split its global upstream operations into four operating companies along regional lines to better manage its growth.
Chevron Corp posted a better-than-expected 24 percent rise in quarterly earnings Friday on higher profits from its refineries and a gain from the sale of its stake in power company Dynegy Inc.
Chevron (CVX) ranks no. 4 on FORTUNE's list of America's largest corporations.
Four Americans working off the coast of southern Nigeria were abducted by unknown kidnappers overnight, an oil company official said Wednesday.
Stocks fell at the open Friday after the government said the economy grew at the weakest pace in four years
Oil prices steadied near $58 Wednesday after government said supplies of crude oil rose less than expected but the fall in gasoline stocks was less than thought.
China's growing appetite for oil will be a challenge for U.S. consumers already facing rising gas prices, but an opportunity for Chevron, CEO David O'Reilly said Tuesday at an analyst conference in New York.
Every oil company likes to claim it's really in the energy business. But at Chevron, chief technology officer Don Paul is seriously thinking about the day the petroleum wells run dry. The first way we'll cope, he says, is by extracting usable fuel out of tar sands, oil shale, and coal.
The U.S. Interior Department abandoned claims that the oil giant Chevron underpaid the government for natural gas produced in the Gulf of Mexico, which could pave the way for other energy firms from paying royalties to the government, according to a report published Tuesday.
Auto-racing legend Mario Andretti has met his share of corporate bigwigs over the years - though none, he says, quite as memorable as Patricia Woertz. The suits usually ask him the same questions a...
Auto-racing legend Mario Andretti has met his share of corporate bigwigs over the years - though none, he says, quite as memorable as Patricia Woertz. The suits usually ask him the same questions as the fans: What was your scariest wreck? What's it like to be one of only two drivers to win both the Daytona 500 and the Indianapolis 500? And just how frustrating were all those losses at Le Mans?
The energy crisis is over. You just might not be that happy with the ending.
Chevron Corporation ranks no. 6 on FORTUNE's Global 500 this year, with $189.5 billion in revenues, up 28.1% from the previous year. The San Ramon, California-based company was ranked no. 11 on the 2005 list. Its 2005 profits were $14.1 billion, up 5.8% from a year earlier. 2005 was a banner year for most Global 500 companies.
Chevron and its partners have successfully extracted oil from a test well in the deep waters of the Gulf of Mexico, an achievement that could be the biggest breakthrough in domestic oil supplies since the opening of the Alaskan pipeline.
Oil stocks are showing no signs of slowing down.
Most FORTUNE 500 companies employ brigades of lawyers to limit their legal liability. But how many worry about their "moral liability"? Probably not enough, if only because the lines are blurring between the two.
It's either a great time (record profits, soaring share prices) or a terrible time (Capitol Hill's scrutiny, the public's ire) to be a Big Oil chief executive.
Judging by the tens of billions (and yes that's billions with a B) the big oil companies are reporting in earnings for 2005, you'd think this is as good as it gets for companies like Chevron, Exxon, Shell and BP. Their shares are up, they've got a friend in the White House (even if he has been daring to talk about alternative energy), and they literally have more cash then they know what to do with. Heck, when was the last time it was cooler to be a member of Houston's Petroleum Club than be a tech type in Austin?
Corporations may soon have to think twice before forming a joint venture with a competitor.
As firefighters battled blazes at an oil depot north of London for a fourth day, the Hertfordshire Fire Brigade responded to criticism that it was not adequately prepared for Sunday's explosions and subsequent fires at the Bunceford Oil Depot.
Dave O'Reilly isn't taking a vacation this summer. In fact, the Chevron CEO isn't even taking a day off to savor one of the biggest wins of his career. Less than 24 hours after beating China's CNOO...
AS FIREWORKS were exploding in the skies across America on July 4, celebrating U.S. independence, a cadre of Chinese and American businesspeople were plotting their own revolution. In a virtual war...
ChevronTexaco, the second largest U.S. oil company behind ExxonMobil, is dropping the Texaco part of its name and will go by just Chevron.
ChevronTexaco has reached an agreement for the $18 billion acquisition of Unocal, a large slow-growing independent that has exceptionally big reserves of oil and natural gas. Both the terms and the timing of the deal provide useful bellwethers for key price trends in the energy industry.
Record high crude oil prices weighed on stocks Monday morning, although a pair of upgrades for Dow stock AIG and some mega-merger news helped temper the impact.
Still looking for a really terrifying Halloween costume idea? Here's a thought. Just wear a barrel with a big number $55 on it.
A report on potential abuses in Iraq's former oil-for-food program named Exxon Mobil, ChevronTexaco and El Paso Corp. as companies associated with Saddam Hussein's efforts to flout sanctions, according to a report published Monday.
Mutual fund managers that focus on "socially responsible investments" have long talked up the value of owning shares in environmentally conscious companies. But could investing green really be the ...
When Chevron and Texaco merged back in October 2001, it looked like an unstoppable combination. The union of $52 billion (market cap) Chevron, with its topnotch exploration and production assets, a...
Bombardier A new plant saves old brand names
We won't know for months whether the recession has officially ended, but it seems that folks all over Wall Street are high-fiving one another over the turnaround. Since September, Standard & Poor's...
When we sat down in November to begin our hunt for the best investments for 2002, we "lacked visibility" (to use Wall Street's current favorite phrase) about where the market was headed. Specifical...
Confused by the stock market's wild swings and the vicious pounding that tech issues have been taking recently? Well, you're certainly not alone. Investors have changed their minds about the market...
People have worried that the world will run out of oil almost since Colonel Drake drilled the first well in Pennsylvania in 1859. As early as 1874, Pennsylvania's chief geologist predicted that ker...
It's known as "The Crisis" around Texaco's sprawling office headquarters in a leafy suburb north of New York City, which is certainly apropos. It was the embarrassing and expensive saga that forced...
"We are in a war for talent. And the only way you can meet your business imperatives is to have all people as part of your talent pool--here in the United States and around the world." That's Rich ...
When the trial of former senior Texaco executives Richard Lundwall and Robert Ulrich--both indicted for obstruction of justice and conspiracy--begins this spring, the two had better hope that juror...
To the loving eye of Phil Meek, president of Chevron Corp.'s Kazakhstan subsidiary, the Caspian Sea city of Atyrau looks a lot like West Texas. "It's flat, alkaline, not many trees," he says.
An old Rothschild (no relation) investment tip, "buy on the sound of cannons," can be profitably applied to Wall Street today, with lawyers taking over where the cannons left off. Now you can buy o...
In all of the tumult over alleged racist remarks by Texaco executives, one curiously silent voice is that of Franklyn Jenifer, the one black member of Texaco's board of directors. How does he feel ...
When it comes to executing management concepts like speed, mass customization, learning organizations, and supplier relations, some companies have the right stuff. Chrysler, for instance, has saved...
Companies operating in dangerous regions need to cope with the security void left by the withdrawal of the Soviet and American empires. To stopper up the safety gap in far-flung locales from Kazakh...
I'm doing a lousy job, confesses the boss. "I stand up there before an audience, and I sound just like a big damn oil mogul. I sound like the tobacco companies ten years ago. I haven't figured out ...
Norman Weinger and Michael Metz of Oppenheimer & Co. in New York City regularly screen their brokerage firm's recommended list for the stocks that rate best by value-oriented measures. Such stocks ...
Our bit for hands across the sea: The top ten industrial companies in this year's FORTUNE 500 are so gargantuan that News/Trends is assigning each a sister country, one whose gross national product...
-- Squeeze more yield from your CDs by laddering. Stash equal parts of your money in a three-month, six-month, nine-month and one-year CD. As each comes due, replace it with a one-year CD. That way...
BORIS YELTSIN never actually said the words across the top of this page, at least not within earshot of this writer. But he might as well have. Everything the Russian President and his new partner,...
BIG OIL, big profits -- obscene profits, even. That's been the industry's image, but look at what really happened over the past decade: In 1980, after two huge run-ups in oil prices, the FORTUNE 50...
WHAT SORT OF U.S. investment do the Soviets want most? When Mikhail Gorbachev greeted 14 American CEOs led by Commerce Secretary Bob Mosbacher in a chandeliered Kremlin meeting room last month, he ...
With crude prices rising so fast, oil and gas stocks are going up too. But selecting the best ones is as tricky as predicting the moves of Saddam Hussein. One safe way to cash in on oil now and bui...
When it came down to it, the environment took second place to jobs. Or so it did in the 1990 contract talks between Amoco and the Oil, Chemical, and Atomic Workers union, whose 40,000 members inclu...
-- More shareholders will get early stocking stuffers this year -- special dividends, such as the $4 a share paid in July by Texaco. Reason: record profit growth. In the first half of 1989, 219 spe...
Long one of the least profitable international oil companies, Chevron is deep into a self-improvement campaign that could help the company -- and its stock -- catch up with competitors. ''The probl...
LIKE AMERICAN and Soviet satellites docking in space, a consortium of five giant U.S. companies has joined up with a unique organization drawn from a cross section of the Kremlin's economic bureauc...
A list of the world's 100 biggest industrial companies is a picture of the global economy -- and as this year's compilation shows, the picture is changing. The titans of 20th-century industry, moto...
In pay as in all things, risk and reward should go together. But sometimes they don't. Consider: -- We all know about Pennzoil's $3 billion victory over Texaco. Pennzoil's board showed its gratitud...
JAMES W. KINNEAR was still vying for the top job at Texaco when, some years back, a reporter asked him whether he disagreed with any of the company's policies. He had a smorgasbord of failed or que...
A swirl of reports that raider Carl Icahn is readying a $60-a-share takeover bid pushed Texaco's stock price up in heavy trading. Texaco won't talk about it, nor will Icahn, who owns almost 15% of ...
The selection of Kenneth T. Derr, 52, to take over Chevron in January when Chairman George M. Keller retires should come as no surprise: He was one of eight executives included in the cover story '...
''What you are seeing now is the development of enormous power without many effective limits.'' -- David Boies, lead attorney for Texaco, talking about pension funds.
If you're the sort of investor who likes simple relationships, you probably don't flirt much with oil stocks. Maybe your heart was broken in the early 1980s, and you decided never to become involve...
Carl Icahn's defeat in his arduous proxy battle with Texaco marks a new turn in corporate governance. In return for supporting the company's management, several of its biggest stockholders demanded...
JUNE S. KENTON, 52, co-director of Rigby & Peller, corsetiere by appointment to the Queen of England: ''We're the only one with the royal warrant in corsetry. Quite honestly, it is a great honor be...
Back in 1959, Roger Gustafson, now 61, began putting 7.5% of his income -- the maximum permitted by his employer, Chevron Corp. -- into the company's pension and stock purchase plans. By 1984, when...
-- A table in February's Fund Watch said that the DBL Tax-Free Cash Fund does not offer fund switching. DBL does allow such switching among its tax-exempt portfolios. -- Our stock fund listings in ...
-- BRUCE E. LAZIER, 39, financial analyst for Prescott Ball & Turben, after Texaco's settlement of $1.25 billion in Energy Department claims: ''Every time you turn over a rock there, another $1 bil...
The nightmare of litigation may be over, but the dawn is not bright for Texaco. While the third-largest U.S. oil company spent four years refusing Pennzoil's demand for more than $10 billion of dam...
-- Officers and directors and large shareholders are buying up their companies' stock at the fastest rate in 13 years. Since Black Monday, 80 insiders have bought company stock in the open market f...
Quick: Who is the most famous CEO in America? This question suddenly got to seem burning the other afternoon, when your correspondent moved a mountain of papers on his desk and came upon a two-mont...
Two tokens for Texaco: The Securities and Exchange Commission has indicated it will side with Texaco on a key point in its $11-billion legal battle with Pennzoil. The SEC says Pennzoil broke a fede...
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