• 4 minutes Trump has changed into a World Leader
  • 7 minutes China's Economy and Subsequent Energy Demand To Decelerate Sharply Through 2024
  • 8 minutes Indonesia Stands Up to China. Will Japan Help?
  • 10 minutes US Shale: Technology
  • 13 minutes Which emissions are worse?: Cows vs. Keystone Pipeline
  • 14 minutes What's the Endgame Here?
  • 17 minutes Shale Oil Fiasco
  • 6 mins We're freezing! Isn't it great? The carbon tax must be working!
  • 13 mins Boris Johnson taken decision about 5G Huawei ban by delay (fait accompli method)
  • 15 hours Beijing Must Face Reality That Taiwan is Independent
  • 4 hours Prototype Haliade X 12MW turbine starts operating in Rotterdam
  • 4 mins Phase One trade deal, for China it is all about technology war
  • 9 hours Might be Time for NG Producers to Find New Career
  • 18 hours Turkey Muscles-In on Israel-Greece-Cyprus EastMed Gas Pipeline Deal. Erdogan Still Dreaming of Ottoman Empire II.
  • 4 mins Environmentalists demand oil and gas companies *IN THE USA AND CANADA* reduce emissions to address climate change
  • 1 day Trump capitulated
Alt Text

Washington’s Libya Pivot Could Be A Game-Changer

US officials have met Libyan…

Alt Text

The End-Game For Libya’s Oil Crescent

As Libya’s two opposing sides…

Alt Text

President Of African Oil Producer Sudan Toppled In Military Coup

Omar al-Bashir, long-term President of…

Jen Alic

Jen Alic

 

More Info

Premium Content

Chevron Hits Morocco, Majors only Blink over Algeria

Chevron Corp (NYSE:CVX), one of the world’s four largest integrated companies, is now planning to explore for oil in Morocco’s deep waters in a deal that would give it a 75% stake in three concession areas.

The oil majors are hardly shaken by recent events in the North African Sahel, including the spectacular hostage crisis last week at a BP-operated gas field in the remote Algerian Sahara.

Morocco will not be immune to the Sahel’s growing instability, but the Chevron deal—if it goes through—is an offshore deal, which presents less of a security threat to personnel and operations.

Related Article: Why This is All Libya's Fault

Chevron has signed agreements with Morocco’s Offices National Des Hydrocarbures Et Des Mines that give the US company rights to explore for oil in three offshore sites covering some 11,300 square miles. Chevron would gain a 75% stake in the areas, while the remainder would go to the Moroccan government. 

Chevron is working hard to expand its frontiers amid recent earnings declines. In November, Chevron’s third-quarter earnings dropped 33%. Still, stock has risen 7.3% over the past 12 months.

Things are now looking pretty good for Chevron, especially on the heels of two more natural gas finds in Australia and an ever-expanding frontier footprint.

By market value Chevron is the second largest oil company in the US and offers the best dividends of the four largest integrated oil companies, including Exxon Mobil Corp (NYSE:XOM), Royal Dutch Shell (NYSE: RDS.A) and British Petroleum (NYSE:BP). 

Chevron is particularly benefitting from quickly expanding LNG production in Australia, which seems to be offsetting the increasing operating costs.

By. Jen Alic of Oilprice.com




Download The Free Oilprice App Today

Back to homepage




Leave a comment

Leave a comment




Oilprice - The No. 1 Source for Oil & Energy News
Download on the App Store Get it on Google Play