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flag Chevron explores selling $2B pipeline assets amid financial pressures and refinery fire.

flag Chevron is exploring the sale of pipeline assets in the Denver-Julesburg shale basin, potentially raising over $2 billion, according to sources. flag The assets, acquired via Noble Energy in 2020, are being marketed by Bank of America and are estimated to generate $200 million in EBITDA. flag The sale is not confirmed, and Chevron may keep some or all of the assets. flag The company, which recently completed a $55 billion acquisition of Hess, faces financial pressure from oil price volatility and rising costs. flag Meanwhile, a fire at Chevron’s El Segundo refinery in California shut down key units, disrupting jet fuel supply for southern California. flag In other energy developments, Iran’s IOOC has acquired two advanced offshore drilling rigs to boost production in the Persian Gulf, supporting a recent rise in crude output to over four million barrels per day. flag Eni has resumed offshore drilling in Libya’s Block 16/4 after a five-year pause, while Nigeria’s oil rig count has surged to 69 since 2021, driven by policy reforms and a push to activate dormant fields, with a goal of reaching 2.5 million barrels per day by 2027.

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