Group 1 - Chevron's flagship refinery in Mississippi is processing its first shipment of Venezuelan oil since the recent political changes in Venezuela [1] - The refinery is one of six ports on the US Gulf Coast capable of processing heavy Venezuelan crude, specifically designed for this type of oil [2] - Currently, the refinery is processing 50,000 barrels of Venezuelan crude oil per day, with plans to triple that to 150,000 barrels next month [3][4] Group 2 - Chevron's CEO, Mike Worth, indicated that the company is increasing production in Venezuela, having grown from 50,000 barrels per day to 250,000 barrels over the last couple of years [5] - The White House is encouraging more investment in Venezuela, aiming to increase production from 950,000 barrels per day to 3 million barrels, which would require an investment of $180 billion and could take up to 14 years [6]

>> THIS IS "BLOOMBERG BUSINESSWEEK DAILY," REPORTING FROM THE MAGAZINE THAT HELPS GLOBAL LEADERS STAY AHEAD, WITH INSIGHT ON THE PEOPLE, COMPANIES, AND TRENDS SHAPING TODAY'S COMPLEX ECONOMY. PLUS GLOBAL BUSINESS, FINANCE, AND TECH NEWS AS IT HAPPENS. "BLOOMBERG BUSINESSWEEK DAILY" WITH CAROL MASSAR AND TIM STENOVEC, LIVE ON BLOOMBERG RADIO, TELEVISION, YOUTUBE, AND BLOOMBERG ORIGINALS. CAROL: GOOD MORNING TO EVERYBODY ACROSS RADIO, TV, BLOOMBERG ORIGINALS -- TIM: WE ARE EVERYWHERE.CAROL: ALL OVER THE PLACE ...

President Trump's energy chief energy secretary, Chris Wright, arrived in Venezuela today, meeting with the nation's new leader and assessing its energy infrastructure. He is meeting today with oil producers and other officials as the U.S. pushes to revive Venezuela's beleaguered oil sector. With more, we do head to Venezuela and Bloomberg Surveillance co-host Annmarie Horden.She is in Caracas. And Marie, tell us about what what's going on, what's moving forward, if anything. Well, just about 20 minutes ago ...

Core Viewpoint - Investors are increasingly turning to the energy sector as investments in technology become more challenging [1] Group 1: Energy Sector Insights - The energy sector is perceived as a safe haven for investors amid market volatility [1] - Rising oil prices and geopolitical tensions are driving interest in energy investments [1] - Energy stocks have shown resilience, outperforming other sectors in recent months [1] Group 2: Technology Sector Challenges - The technology sector is facing headwinds due to rising interest rates and regulatory scrutiny [1] - Investors are becoming cautious about tech valuations, leading to a shift in investment strategies [1] - The uncertainty surrounding tech companies is prompting a reevaluation of risk in this sector [1]

Core Viewpoint - Subsea 7 S.A. has been awarded a significant contract by Chevron for subsea installation in the Eastern Mediterranean, which includes the transport and installation of approximately 17 kilometers of subsea flowlines and umbilicals, with project management and engineering starting immediately [1][2]. Group 1: Contract Details - The contract awarded to Subsea 7 is classified as substantial, valued between $150 million and $300 million [2]. - Offshore activities related to this project are expected to commence in the first quarter of 2028 [1]. Group 2: Strategic Partnership - This contract reinforces the long-term strategic partnership between Subsea 7 and Chevron, building on their successful collaboration in regions such as West Africa, Australia, and the US [2]. - The focus of this partnership will be on safety, efficiency, and technical integrity to deliver reliable offshore solutions [2]. Group 3: Company Overview - Subsea 7 is recognized as a global leader in delivering offshore projects and services for the energy industry, emphasizing sustainable value and efficient offshore solutions [3].

Core Insights - The Chevron-led Tengiz field in Kazakhstan has recovered to approximately 60% of its peak production levels and is targeting full output by February 23 [1] Group 1 - The Tengiz field is a significant oil production site, indicating its importance in the global oil supply [1] - The recovery to 60% of peak production suggests a positive trend in operational efficiency and output recovery [1] - The timeline for reaching full output by February 23 highlights the company's commitment to restoring production levels [1]

Core Insights - Chevron is the only major U.S. energy company operating in Venezuela, which has faced significant challenges due to sanctions and a declining energy sector [1] - The U.S. government's approach to Venezuela is likely to be economically driven, with control over oil sales and buyers [2] - Despite Venezuela's large oil reserves, its oil industry is weak and not as influential globally, leading to a modest impact on the energy sector overall [4] Company-Specific Insights - Chevron's current market capitalization is $364 billion, with a current stock price of $181.07 and a dividend yield of 3.78% [5][6] - The company has the potential to increase its production in Venezuela by up to 50% over the next two years, which is a key metric for investors to monitor [7] - While Chevron's operations in Venezuela are not the primary focus of its business, the company has an incentive to support the country's energy sector revival [6][8] Industry Context - The political developments in Venezuela are noteworthy but not the most critical aspect of Chevron's overall business strategy, as the company is diversified across various markets [8] - A recovery in Venezuela's energy sector alone may not be sufficient to counteract the volatility of global oil prices, indicating that investors should consider broader market conditions [9]

Even in normal times, finding a firm footing in the oil business is a slippery endeavor. UK oil major Shell posted its weakest quarterly profit in nearly half a decade on Thursday, sending its New York-listed shares down 5.3%. The drop occurred less than a week after US major Chevron reported declining profit, though that company’s shares have risen 4.7% since, thanks partly to its unique upside in Venezuela, the South American nation the Trump administration plans to “run” after deposing its president. ...

Chevron Corp on Thursday outlined senior leadership changes that will take effect in 2026, with several long-serving executives retiring and internal candidates stepping into key roles across strategy... ...

Core Insights - The concerns regarding a potential artificial intelligence (AI) bubble have negatively impacted technology stocks in 2026, leading investors to favor fixed-income investments and dividend-paying equities [1] Group 1: Market Trends - Traders have shifted their focus towards less cutting-edge sectors that offer substantial dividends, resulting in strong rallies for these equities since the beginning of the year [1] Group 2: Coca-Cola (KO) - Coca-Cola has demonstrated stability and strong performance, achieving an 11.91% year-to-date (YTD) rally, reaching an all-time high price of $77.35 [3][6] - The company has maintained an average gross margin of about 61% and an operating margin of 27% over the past decade, indicating resilience ahead of its February 10 earnings report [6] - Coca-Cola's dividend yield stands at 2.64%, providing investors with a quarterly payment of $0.51 per share [7] Group 3: Chevron (CVX) - Chevron has experienced a 16.25% rally since the start of 2026, with a current price of $181.23, driven by political developments that may enhance its oil supply from Venezuela and Syria [8][10] - Recent legal changes in Venezuela and a landmark offshore oil deal in Syria have positioned Chevron favorably for future growth [10] - The company's annual yield is 3.93%, translating to a quarterly dividend payment of $1.78 per share, making it an attractive investment option [11]