Log in
E-mail
Password
Remember
Forgot password ?
Become a member for free
Sign up
Sign up
New member
Sign up for FREE
New customer
Discover our services
Settings
Settings
Dynamic quotes 
OFFON

MarketScreener Homepage  >  Equities  >  Nyse  >  Chevron Corporation    CVX

CHEVRON CORPORATION

(CVX)
  Report
SummaryQuotesChartsNewsRatingsCalendarCompanyFinancialsConsensusRevisions 
News SummaryMost relevantAll newsPress ReleasesOfficial PublicationsSector newsMarketScreener StrategiesAnalyst Recommendations

Chevron : readies Malampaya exit

share with twitter share with LinkedIn share with facebook
share via e-mail
01/20/2020 | 12:24pm EST

Chevron readies Malampaya exit !-- -- Danessa Rivera (The Philippine Star) - January 21, 2020 - 12:00amMANILA, PhilippinesChevron expects to complete its exit from the Malampaya deep water-gas-to-power project by the middle of the year. This, as its local unit Chevron Philippines Ltd.

signed a sale and purchase agreement to sell its 45 percent stake in the $4.5 billion Malampaya project to Udenna Corp. The deal was announced by Udenna, the holding company of Dennis Uy, in November 2019. Udenna subsidiary UC Malampaya Philippines Pte.

Ltd. bought 100 percent of Chevron Malampaya LLC, which holds Chevron Philippines' non-operated interest in Malampaya.

The Department of Energy (DOE) is reviewing the entry of Udenna in the Malampaya project. The Malampaya project is under Service Contract (SC) 38, which falls under the jurisdiction of the agency, DOE Undersecretary Donato Marcos said earlier.

The DOE will conduct financial, legal and technical review of Udenna and whether it is compliant with the process. Meanwhile, the DOE will also review the right to match the offer of Udenna exercised by Philippine National Oil Co.

-Exploration Corp. (PNOC-EC).

The state-run firm will match Udenna's offer equivalent to its existing 10 percent interest in Malampaya. Energy Secretary Alfonso Cusi, who also sits as ex-officio chairman of PNOC-EC, said increasing its stake in Malampaya would be advantageous to the government.

The Malampaya project is PNOC-EC's largest project to-date. The agency's other partners include Shell Philippines Exploration B.

V. (SPEX), a local unit of energy giant Royal Dutch Shell with 45 percent and Chevron Malampaya LLC with another 45 percent.

As the largest natural gas industrial project in the Philippines, it recovered all costs in four years. The Malampaya gas project supplies fuel to around 40 percent of gas-fired plants in Luzon with over 3,000 MW in capacity.

While the contract will end in 2024, supply from the Malampaya gas field is projected to be depleted by early 2022 or 2027 at the latest.

© Pakistan Press International, source Asianet-Pakistan

share with twitter share with LinkedIn share with facebook
share via e-mail
Latest news on CHEVRON CORPORATION
02/21Rosneft faces logistics headache over sanctioned Swiss oil trader
RE
02/21CHEVRON : Management's Discussion and Analysis of Financial Condition and Result..
AQ
02/20NEVER MIND ELECTRIC CARS, HERE'S AUS : Petrol stations
RE
02/17The U.S. touts for business in Angola
RE
02/17Pompeo blasts corruption, promotes U.S. business in Africa trip
RE
02/14CHEVRON CORPORATION : Ex-dividend day for
FA
02/13CHEVRON : Reports Startup at Pasadena Refinery in Texas
DJ
02/12Woodside's Annual Profit Drops 75% Following Kitimat Impairment
DJ
02/12BP boss Looney sets out to 'reinvent' oil giant with zero carbon goal
RE
02/12Carbon Capture Is Winning Fans Among Oil Giants
DJ
More news
Financials (USD)
Sales 2020 151 B
EBIT 2020 19 718 M
Net income 2020 12 265 M
Debt 2020 19 275 M
Yield 2020 4,70%
P/E ratio 2020 16,9x
P/E ratio 2021 15,7x
EV / Sales2020 1,49x
EV / Sales2021 1,48x
Capitalization 205 B
Chart CHEVRON CORPORATION
Duration : Period :
Chevron Corporation Technical Analysis Chart | MarketScreener
Full-screen chart
Technical analysis trends CHEVRON CORPORATION
Short TermMid-TermLong Term
TrendsNeutralBearishBearish
Income Statement Evolution
Consensus
Sell
Buy
Mean consensus OUTPERFORM
Number of Analysts 25
Average target price 133,00  $
Last Close Price 109,01  $
Spread / Highest target 38,5%
Spread / Average Target 22,0%
Spread / Lowest Target -2,76%
EPS Revisions
Managers
NameTitle
Michael K. Wirth Chairman & Chief Executive Officer
Pierre R. Breber Chief Financial Officer & Vice President
Joseph C. Geagea EVP-Technology, Projects & Services Divisions
Ronald D. Sugar Lead Independent Director
Enrique Hernandez Independent Director
Sector and Competitors