INSIDER
Venezuelan opposition calls on US to cancel oil company licenses to pressure Maduro
Read full article: Venezuelan opposition calls on US to cancel oil company licenses to pressure MaduroVenezuela’s main opposition coalition has urged the U.S. to cancel licenses for Chevron and other energy companies.
Chevron takeaways: Supreme Court ruling removes frequently used tool from federal regulators
Read full article: Chevron takeaways: Supreme Court ruling removes frequently used tool from federal regulatorsFederal rules that impact virtually every aspect of everyday life, from the food we eat and the cars we drive to the air we breathe and homes we live in, could be at risk after a wide-ranging Supreme Court ruling.
What it means for the Supreme Court to throw out Chevron decision, undercutting federal regulators
Read full article: What it means for the Supreme Court to throw out Chevron decision, undercutting federal regulatorsExecutive branch agencies will likely have more difficulty regulating the environment, public health, workplace safety and other issues under a far-reaching decision Friday by the Supreme Court.
The Supreme Court weakens federal regulators, overturning decades-old Chevron decision
Read full article: The Supreme Court weakens federal regulators, overturning decades-old Chevron decisionThe Supreme Court has upended a 40-year-old decision that made it easier for the federal government to regulate the environment, public health, workplace safety and consumer protections.
ConocoPhillips buying Marathon Oil for $17.1 billion in all-stock deal as energy prices rise
Read full article: ConocoPhillips buying Marathon Oil for $17.1 billion in all-stock deal as energy prices riseConocoPhillips is buying Marathon Oil in an all-stock deal valued at approximately $17.1 billion as energy prices soar and big oil companies reap massive profits.
Thitikul shoots 65 for 2-shot lead at Mizuho Americas Open; No. 1 ranked Nelly Korda lurking 3 back
Read full article: Thitikul shoots 65 for 2-shot lead at Mizuho Americas Open; No. 1 ranked Nelly Korda lurking 3 backRising star Atthaya Thitikul birdied five of the final seven holes and shot a 7-under 65 to grab the halfway lead in the Mihuho Americas Open.
Supreme Court Justice Neil Gorsuch co-authors book on laws. 'Over Ruled' to be released Aug. 6
Read full article: Supreme Court Justice Neil Gorsuch co-authors book on laws. 'Over Ruled' to be released Aug. 6Supreme Court Justice Neil Gorsuch will have a book out this summer on a subject he has commented upon often, the volume of laws in the U.S. Harper, an imprint of HarperCollins Publishers, announced Wednesday that ”Over Ruled: The Human Toll of Too Much Law” will be released Aug. 6.
Korda chases fifth straight victory to tie LPGA record in Chevron Championship
Read full article: Korda chases fifth straight victory to tie LPGA record in Chevron ChampionshipNelly Korda hasn’t really considered her place in history as she prepares to chase her fifth consecutive victory, which would tie the LPGA record, this weekend at the Chevron Championship.
Chevron manager jailed in Venezuela amid crackdown on government critics
Read full article: Chevron manager jailed in Venezuela amid crackdown on government criticsThe Associated Press has learned that a former Venezuelan fighter pilot jailed in Venezuela in February for his ties to a prominent human rights attorney is an employee of U.S. oil firm Chevron.
San Antonio gas prices see sharp increase from a week ago
Read full article: San Antonio gas prices see sharp increase from a week agoGas prices are on the rise across the San Antonio area as the gas price average for a gallon of regular unleaded fuel in San Antonio was $2.85 as of Tuesday morning, according to AAA Texas.
The Supreme Court wrestles with major challenges to the power of federal regulators
Read full article: The Supreme Court wrestles with major challenges to the power of federal regulatorsConservative Supreme Court justices have voiced support for weakening the power of federal regulators, but it's unclear whether a majority would overturn a major 40-year-old decision.
A little fish at the Supreme Court could take a big bite out of regulatory power
Read full article: A little fish at the Supreme Court could take a big bite out of regulatory powerBusiness and conservative interest groups hoping to limit the power of regulators believe they have a winner in the Atlantic herring and the boats that sweep the modest fish into their holds by the millions.
FTC opens inquiry of Chevron-Hess merger, marking second review this week of major oil industry deal
Read full article: FTC opens inquiry of Chevron-Hess merger, marking second review this week of major oil industry dealThe Federal Trade Commission is investigating Chevron’s acquisition of Hess oil company, the second inquiry the independent agency has opened this week of a major oil industry merger.
Federal Trade Commission is investigating ExxonMobil's $60B deal to acquire a Texas oil company
Read full article: Federal Trade Commission is investigating ExxonMobil's $60B deal to acquire a Texas oil companySecurity filings show the Federal Trade Commission is investigating ExxonMobil’s $60 billion deal to acquire a Texas oil company, potentially one the largest energy industry mergers in two decades.
Schumer and other Senate Democrats call for a federal probe of huge oil deals by Exxon and Chevron
Read full article: Schumer and other Senate Democrats call for a federal probe of huge oil deals by Exxon and ChevronSenate Majority Leader Chuck Schumer and other Democratic senators are urging federal regulators to investigate multibillion-dollar acquisitions by oil giants ExxonMobil and Chevron, saying the deals could lead to higher prices at the gas pump.
Exxon profit falls compared with record-setting numbers last year, but consolidation in full swing
Read full article: Exxon profit falls compared with record-setting numbers last year, but consolidation in full swingExxon Mobil’s third-quarter profit declined compared with last year's unprecedented numbers, but they're up 15% compared with the previous quarter.
Stock market today: Asian shares mixed after US stocks wobble as US Treasury bond yields veer
Read full article: Stock market today: Asian shares mixed after US stocks wobble as US Treasury bond yields veerAsian shares are mixed after Wall Street wobbled to a mixed close as yields on U.S. Treasury bonds fell back after jumping above 5%.
Jury returns $63M verdict after finding Chevron covered up toxic pit on California land
Read full article: Jury returns $63M verdict after finding Chevron covered up toxic pit on California landA California jury has returned a $63 million verdict against Chevron after finding the oil giant covered up a toxic chemical pit on land purchased by a man who built a house on it and was later diagnosed with a blood cancer.
Supreme Court to decide important case on government power
Read full article: Supreme Court to decide important case on government powerThe Supreme Court says it will decide whether or not to overrule a decades-old decision that has been a frequent target of conservatives and, if overruled, could make it harder to sustain governmental regulations.
$264M offered in Gulf oil sale held under climate compromise
Read full article: $264M offered in Gulf oil sale held under climate compromiseOil companies including Chevron and ExxonMobil offered a combined $264 million for drilling rights in the Gulf of Mexico in a sale mandated by last year’s climate bill compromise.
Cyprus: Plant to process Israeli gas for export an option
Read full article: Cyprus: Plant to process Israeli gas for export an optionCyprus’ energy minister says a pipeline conveying Israeli natural gas to the island nation where it would be liquefied for export by ship is an option the government is weighing on how to get east Mediterranean gas to Europe and elsewhere amid the energy crisis prompted by Russia’s war in Ukraine.
Venezuela's gov, opponents resume talks; US eases sanction
Read full article: Venezuela's gov, opponents resume talks; US eases sanctionVenezuela’s government and its opposition have agreed to create a U.N.-managed fund to finance health, food and education programs for the poor, while the Biden administration eased some oil sanctions on the country in an effort to boost the newly restarted talks between the sides.
Biden eases Venezuela sanctions as opposition talks resume
Read full article: Biden eases Venezuela sanctions as opposition talks resumeThe Biden administration is easing some oil sanctions on Venezuela in an effort to support newly restarted negotiations between the Venezuelan government and its opposition.
BP profits soar in 3Q as pressure increases for windfall tax
Read full article: BP profits soar in 3Q as pressure increases for windfall taxBP’s earnings have more than doubled in the third quarter as the London-based energy giant benefited from high oil and natural gas prices following Russia’s invasion of Ukraine.
Biden, Chevron chief trade sharp words over gas prices
Read full article: Biden, Chevron chief trade sharp words over gas pricesIn a pointed back and forth, the head of Chevron has complained that President Joe Biden has vilified energy firms at a time when gasoline prices are at near record levels and the president responded that the oil company CEO was being “mildly sensitive.”.
Biden renews Chevron license to bypass Venezuela sanctions
Read full article: Biden renews Chevron license to bypass Venezuela sanctionsThe Biden administration has renewed a license partially exempting Chevron from sanctions on Venezuela so it can keep operating in the oil-rich, socialist-run nation.
Have you seen these two people? Police search for suspects in Southeast Side gas station robbery
Read full article: Have you seen these two people? Police search for suspects in Southeast Side gas station robberySan Antonio police are searching for two suspects who robbed a gas station on the Southeast Side.
Shell sells off its oil and gas business in Texas’ Permian Basin, seeking to reduce its reliance on fossil fuels
Read full article: Shell sells off its oil and gas business in Texas’ Permian Basin, seeking to reduce its reliance on fossil fuelsTexas-based ConocoPhillips bought Shell’s Permian Basin assets for $9.5 billion, its second major purchase in the oil-rich area over the last year.
Buffett's firm reveals new investments in Verizon, Chevron
Read full article: Buffett's firm reveals new investments in Verizon, ChevronBuffetts company made major new investments in Verizon and Chevron and again trimmed its huge stake in Apple while making several other adjustments to its stock portfolio in 2020. – Warren Buffett's company made major new investments in Verizon and Chevron and again trimmed its huge stake in Apple while making several other adjustments to its stock portfolio last year. Berkshire Hathaway Inc. said in regulatory filings Tuesday that it bought $8.6 billion worth of Verizon stock and picked up $4.1 billion worth of Chevron shares over the last six months of 2020. AdIn addition to those large new investments, Berkshire also revealed a new stake in professional services firm Marsh & McLennan that's worth roughly $499 million. In addition to the three new investments, Berkshire also added to its relatively new holdings in drugmakers Bristol Myers Squibb, Abbvie and Merck.
Hit by pandemic, oil giants Exxon, BP post huge 2020 losses
Read full article: Hit by pandemic, oil giants Exxon, BP post huge 2020 lossesOil giants Exxon and BP have reported staggering losses for 2020 as the pandemic crushed energy demand and caused oil prices to tumble. (AP Photo/Alastair Grant, File)DALLAS – Oil giants Exxon and BP reported staggering losses for 2020 on Tuesday as the pandemic crushed energy demand and undercut oil prices. Exxon Mobil Corp. reported the largest losses in its history — nearly $20.1 billion for the fourth quarter, including more than $19 billion to write down the value of company assets. BP PLC posted a profit of $825 million in the fourth quarter but still lost $18.1 billion in 2020. However, the company is still bringing new oil and gas projects into operation.
Texas unemployment rate rises to 8.1% in November
Read full article: Texas unemployment rate rises to 8.1% in NovemberCredit: Jordan Vonderhaar for The Texas TribuneLearn more about how to navigate Texas’ unemployment system in our guide for jobless Texans. The unemployment rate in Texas rose to 8.1% in November, the U.S. Labor Department said Friday. That’s an increase from the state’s October rate of 6.9% as Texas, whose businesses have been battered by the coronavirus pandemic, experienced another surge in infections. The state's unemployment rate for November is the latest indicator that the economic recovery in Texas will be slow and staggered. Distribution of a COVID-19 vaccine could impact the unemployment rate in the coming months — though, as Gov.
751,000 seek US jobless benefits as virus hobbles economy
Read full article: 751,000 seek US jobless benefits as virus hobbles economyEight months after the pandemic flattened the economy, weekly jobless claims still point to a stream of layoffs. Thursday’s report from the Labor Department said the number of people who are continuing to receive traditional unemployment benefits declined to 7.3 million. The job market has been under pressure since the virus paralyzed the economy and has regained barely half the 22 million jobs that were lost to the pandemic in early spring. All told, the Labor Department said 21.5 million people are receiving some form of unemployment benefits, though the figure may be inflated by double-counting by states. Without additional federal aid, millions of unemployed Americans likely will lose all their jobless benefits in coming weeks and months, probably forcing them to scale back their spending.
Losses mount for oil companies as pandemic grips economy
Read full article: Losses mount for oil companies as pandemic grips economyNEW YORK – Exxon Mobil reported its third consecutive quarter of losses as the global pandemic curtailed travel and crippled global economic activity. The string of losses and what by almost all counts will be a money-losing year is new territory for Exxon Mobil, which has not posted an annual loss since Exxon and Mobil merged in 1999. Already struggling with weak prices from oversupply, the pandemic has intensified the pain for oil and gas companies. Exxon has begun slashing costs to offset falling energy demand, and that means jobs. Oil demand is expected to fall 8% globally this year, according to the International Energy Agency.
Chevron acquires Noble for $5 billion in all-stock deal
Read full article: Chevron acquires Noble for $5 billion in all-stock dealNEW YORK Chevron will take over Noble Energy for $5 billion in the first big deal announced since the coronavirus pandemic shook the energy sector. Chevron, based in San Ramon, California, has been shopping for assets since last year and with crude prices down more than 30% this year, it jumped Monday with it's all-stock offering. Based on Chevrons closing price on Friday, Noble Energy shareholders will receive 0.1191 shares of Chevron for each Noble Energy share. The total enterprise value of the deal, including debt, is $13 billion. Noble is based in Houston, Texas.