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.
