Chevron Corporation is a multinational energy company engaged in all aspects of the oil and gas industry, including exploration, production, refining, and marketing of crude oil and natural gas
The company operates in various regions around the world, focusing on both conventional and unconventional resources. In addition to its fossil fuel operations, Chevron is also investing in renewable energy technologies, such as biofuels and geothermal energy, as part of its commitment to transitioning towards a more sustainable energy future. Through its extensive supply chain, Chevron provides fuels and lubricants for transportation, industrial, and commercial needs, while also prioritizing safety and environmental stewardship in its operations.
PALM BEACH, Fla., March 19, 2025 (GLOBE NEWSWIRE) -- FN Media Group News Commentary - According to a report from Grand View Research, the global nickel mining market size was estimated at USD 50.40 billion in 2022 and is estimated to grow at a compound annual growth rate (CAGR) of 6.6% from 2023 to 2030. Growth in end-use industries such as construction, consumer durables, and machinery & equipment are propelling the growth of the stainless steel industry. Nickel is one of the key raw materials of stainless steel. Hence, development in the stainless steel industry is contributing to the growth of the market. According to the Nickel Institute, over two-thirds of the world's nickel is utilized in the production of stainless steel. It acts as an alloying agent, enhancing essential properties such as formability, ductility, and weldability while also increasing corrosion resistance for specific applications. The report said: “The nickel mining industry is highly competitive and to gain an edge, major players are acquiring their competitors. The batteries segment is anticipated to register the fastest CAGR of 7.2% in terms of revenue, over the forecast period (2030). Nickel batteries offer a cost-effective solution for achieving higher energy density and storage capabilities.” Active Companies in the markets today include: First Atlantic Nickel Corp. (OTCQB: FANCF) (TSX-V: FAN), Vale S.A. (NYSE: VALE), Chevron Corporation (NYSE: CVX), Glencore plc (OTCPK: GLNCY) (OTCPK: GLCNF), Quebec Innovative Materials Corp. (OTCQB: QIMCF) (CSE: QIMC).
Oil prices fell after Trump-Putin call discussed potential ceasefire in Ukraine. Energy stocks paused after recent rally, while natural gas stocks outperformed.
Chevron said it purchased 15.38 million shares of Hess Corporation, representing approximately a 4.99% stake in the company. Based on Monday’s price of $150, Chevron’s latest stake acquisition is worth $2.3 billion.
Eimear Bonner, Vice President and CFO of Chevron Corporation (NYSE: CVX), will take part in the Piper Sandler 25th Annual Energy Conference on Tuesday, March 18, 2025, at 11:00 AM ET (8:00 AM PT), discussing corporate strategy and the company’s objective of delivering higher returns, lower carbon and superior shareholder value in any business environment.
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Chevron Corporation has announced plans to reduce its global workforce by an estimated 15% to 20%, aligning with an initiative to streamline operations and reduce expenditures by $3 billion by 2026. This decision follows Chevron’s headquarters transition from San Ramon, California, to Houston, Texas, a move aimed at fostering closer collaboration with industry leaders.
Energy sector faces investor scrutiny due to recent developments. ETFs like XLE, VDE, and UNG offer exposure to energy companies amid market uncertainty.
