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Weekly News Roundup: Chevron Corporation (NYSE:CVX)

Here’s this week’s round-up of Chevron Corporation (NYSE:CVX) news briefings. Chevron Corporation (NYSE:CVX) stocks ended the week at 78 (as of 9/3/2010).

Weekly News Roundup: Chevron Corporation (NYSE:CVX)

Monday 30 August

Chevron Corporation (NYSE:CVX) has won some major new exploration contracts, off the coast of Liberia. According to government statements, the three year program is expected to start by the fourth quarter of this year.

“We are delighted to welcome Chevron as a partner for Liberia to explore our oil and gas assets,” Ellen Johnson-Sirleaf, the Liberian leader said in the statement.

“Along with its investment, Chevron will bring the latest technologies, best practices in transparency and efficiencies, and an excellent record of community and social responsibility,” he added.

Tuesday 31 August

Chevron Corporation, according to an Associated Press report today, spent $3.9 million through a subsidiary in the second quarter to lobby the federal government.

Lobbying was reportedly on issues affecting the company’s operations, such as climate change, oil industry taxes, according to a company report filed with the SEC. This amount is just above the $3.1 million the company spent in the first quarter.

Thursday 2 September

Chevron plugged its Lona 0-55 exploration well located in the Orphan Basin off the coast of Newfoundland last Thursday.

Drilling took nearly four months, but there is still no word from Chevron Corporation (NYSE:CVX) whether the venture has struck oil or not.

To complicate things for news-hungry investors, the company is allowed to keep the drilling results confidential for up to two years.

We will continue checking the Chevron Corporation (NYSE:CVX) stock level for developments over the next few weeks.

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Weekly News Roundup: Chevron Corporation (NYSE:CVX)

Here’s a roundup of Chevron Corporation (NYSE:CVX) news stories from this week. Chevron Corporation (NYSE:CVX) company shares ended the week at 73.52 (as of 7/23/2010).

Weekly News Roundup: Chevron Corporation (NYSE:CVX)

Tuesday

Chevron Corporation (NYSE:CVX) vice chairman George Kirkland said the company was delighted with the discovery, in the Carnarvon Basin offshore Western Australia.

He said “The Sappho-1 discovery is another example of the success of Chevron’s significant exploration investment in northwest Australia and will support our long-term plans to build a leading natural gas business to supply energy to Australia and the Asia-Pacific region.”

Thursday

The agreement between Chevron Corporation (NYSE:CVX) and The Korea Gas Corporation (KOGAS) will stretch for 20 years, and will mean the supply of liquefied natural gas from the the Wheatstone gas project, situated in Western Australia.

The Korean company is the biggest ppurchaser of liquefied natural gas in the world.

Friday

June 12 saw a pipeline leak which caused a 33,000 gallon oil spill in and around Salt Lake City, and the country of Salt Lake has now tabled an invoice to Chevron Corporation (NYSE:CVX) for more than $53,000.

Salt Lake City has already invoiced the company for $125,000 for services in the first 48 hours after the spill. Chevron Corporation (NYSE:CVX) will be keen to handle the fallout from this small-scale spill quickly and efficiently, and has already pledged a $10,000 donation to Utah’s Hogle Zoo, which helped clean birds which were affected by oil.

We’ll be keeping a close eye on the Chevron Corporation (NYSE:CVX) share price for changes over the next few weeks.

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