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3 Permian Stocks to Gain as Oil Price is Quite Healthy
Zacks Investment Research· 2024-03-13 15:46
The ongoing rise in oil prices is fueling a bullish trend, encouraging more exploration and production activities. Companies in the upstream sector are likely to expand their operations in lucrative shale reserves, leading to a higher number of drilling rigs. This increase in drilling activity is anticipated to boost production, providing advantages for businesses engaged in exploration and production. Oil Price Still HighWest Texas Intermediate crude price is trading at more than $75 per barrel, which is ...
Chevron (CVX) Joins Forces With Celsia to Build a Solar Plant
Zacks Investment Research· 2024-03-13 13:01
Chevron Corporation (CVX) , one of the largest oil companies in the world, recently announced an ambitious partnership with Colombian power company Celsia SA ESP to establish a cutting-edge solar power plant at its fuel terminal in Bahía Las Minas, Panama. This initiative represents a significant step forward for Chevron in promoting sustainable operations, as well as highlighting the growing importance of renewable energy in Panama's energy mix.Project OverviewThe solar farm with have a peak capacity of 4. ...
Looking To Start Earning Passive Income in March? Here Are 6 Top Dividend Stocks
24/7 Wall Street· 2024-03-11 18:45
Looking To Start Earning Passive Income in March? Here Are 6 Top Dividend Stocks Sutthiphong Chandaeng / Shutterstock.com Since 1926, dividends have contributed approximately 32% of the total return for the S&P 500, while capital appreciations have contributed 68%. Therefore, sustainable dividend income and capital appreciation potential are essential for total return expectations. A recent study from the Hartford Funds, in collaboration with Ned Davis Research, found that dividend stocks delivered an ann ...
The Top 7 Oil & Gas Stocks to Buy in March 2024
InvestorPlace· 2024-03-10 20:53
Traders looking for the top oil and gas stocks to buy have to be incredibly nimble. The recent news from the sector is almost laughably inconsistent. On March 6, 2024, this headline caught my eye: “Oil prices spike on crude inventory update and Powell’s rate-cut outlook.” But less than 24 hours later, this headline followed: “Oil prices slip on view US rate cuts could be delayed. But like any commodity, oil prices come down to supply and demand. Or, as the headlines illustrate, it’s the perception of where ...
Warren Buffett's Main Investing Focus Right Now -- and How It Could Make Him Billions
The Motley Fool· 2024-03-09 10:49
You might have noticed that Warren Buffett isn't buying many stocks these days. In 2023, the legendary investor was a net seller of stocks. Meanwhile, the cash position for Berkshire Hathaway has grown to nearly $168 billion.Don't think for a second that Buffett isn't still interested in the stock market. Here's his main investing focus right now -- and how it could make him billions.The sector that's energizing Buffett the mostIn the fourth quarter of 2023, Buffett bought only three stocks. None were new p ...
Chevron (CVX) Resumes Drilling Operations in Venezuela
Zacks Investment Research· 2024-03-08 19:26
Chevron Corporation (CVX) restarted drilling operations in a pristine field located in Venezuela, marking a significant move to boost production amid challenging geopolitical circumstances. The drilling activities, initiated in mid-February, aim to exploit the heavy crude area of the Orinoco Belt, which is CVX's primary avenue for increasing production in Venezuela.Strategic Importance of the Orinoco BeltSituated in the Orinoco Belt, the targeted area represents CVX's most promising opportunity for near-ter ...
Hess reviews timeline for Chevron deal closing after Exxon escalates Guyana dispute
CNBC· 2024-03-07 19:01
Mike Wirth, CEO of Chevron and John Hess, CEO of Hess, appear on CNBC to speak about Chevron's deal to buy Hess Corp for $53 billion all-stock deal, on the floor of the New York Stock Exchange (NYSE) in New York City, October 23, 2023.Hess Corp. is reviewing the timeline for when its merger with Chevron will close after Exxon Mobil this week escalated a dispute over lucrative oil assets in Guyana.Exxon filed for arbitration Wednesday to defend what the oil major views as its right to make a counter offer fo ...
Chevron (CVX) Joins Forces With Challenger for Offshore Uruguay Block
Zacks Investment Research· 2024-03-07 16:35
Chevron Corporation’s (CVX) subsidiary Chevron Uruguay Exploration Limited entered into an agreement with Challenger Energy's wholly-owned Uruguayan subsidiary, CEG Uruguay SA, for acquiring 60% interest in the AREA OFF-1 block offshore Uruguay. This agreement marks a significant development for both companies, with Chevron bringing its vast experience and resources to the project, and Challenger benefiting from a major partner to accelerate exploration efforts.The Agreement DetailsPer the terms of the agr ...
Chevron and Exxon row over future of giant Guyana asset
Proactive Investors· 2024-03-07 12:40
A row over Exxon's (NYSE:XOM, ETR:XONA) giant oil discoveries offshore Guyana threatens to scupper Chevron's (NYSE:CVX, ETR:CHV) takeover of Hess Corp (NYSE:HES), according to new reports. Hess is the minority partner in the Exxon-operated Stabroek block, holding 30% of the ‘project’ which spans an equivalent size to 1,150 blocks in the Gulf of Mexico and currently yields around 600,000 barrels of oil production per day. Exxon meanwhile leads with a 45% stake in the venture that is targeting some 1.2 millio ...
Exxon could make a bid for Hess' oil assets in Guyana if Chevron deal terminates
CNBC· 2024-03-06 23:58
Exxon Mobil indicated Wednesday it could make a bid for Hess' oil assets in Guyana if the company's merger agreement with Chevron fails due to a dispute over pre-emption rights.Exxon filed for arbitration at the International Chamber of Commerce in Paris Wednesday morning to adjudicate the dispute with Chevron over Hess' Guyana assets, Exxon senior vice president Neil Chapman said during an interview at a Morgan Stanley event.Exxon claims it has a pre-emptive of right to make an offer for Hess' assets in Gu ...