Chevron Discusses Business Operations at Annual Stockholders Meeting

May 27, 2020 - Chevron Corporation  today provided an overview of the company’s work to respond to the COVID-19 pandemic at its 2020 annual meeting of stockholders. This year’s meeting was virtual in place of an in-person event due to safety concerns related to the pandemic. 

Commodity prices have fallen significantly due to the destruction of demand resulting from the COVID-19 pandemic and the over-supply of crude oil. The company expects its financial results will be depressed as long as current market conditions persist.

“Chevron is responding to these unprecedented challenges by making changes to what we can control,” Wirth said. “It’s always good to hear from our stockholders. We hope the meeting today left them with a deeper understanding of how we’ve advanced the business over the past year and our plans for the year ahead.”  Read the complete News Release here.

The preliminary results from the meeting can be accessed via chevron.com here. 

Chevron Sells Azerbaijan Assets to MOL Hungarian Oil and Gas

Apr. 16, 2020 -  Chevron Corporation announced today that its affiliate companies have sold their non-operating interests in the Azeri-Chirag-Deepwater Gunashli (ACG) oil fields (including interests in the Western Export Route Pipeline) and the Baku-Tbilisi-Ceyhan (BTC) oil pipeline located in Azerbaijan, to MOL Hungarian Oil and Gas PLC for a consideration of $1.57 billion. (In this context, “consideration” means the negotiated sale price.)  Click here for Press Release.