Chevron Pours $500M To Fund Renewable Energy Future: Report

Chevron Corporation’s venture capital arm reportedly launched its third fund to invest in renewable energy technologies with a $500 million commitment. The Future Energy Fund III will focus on innovations in industrial decarbonization and the circular carbon economy. The move reflects the company's aim to diversify its business amid pressure to reduce emissions.

Exxon Taps TechnipFMC For Subsea Gear In Guyana's $12.7B Whiptail Project

Exxon Mobil Corporation awarded a large contract to TechnipFMC for its Guyana’s Stabroek Block. The company will supply subsea production systems for the Whiptail project. Last week, Exxon and Hess Corporation made a final investment decision for the Guyana project.

Weekly Report: what happened at IYE last week (0408-0412)?

Black Gold Bonanza: Analyst Bets On Chevron, Citing Price Outlook

Scotiabank analyst Paul Y. Cheng upgraded Chevron Corporation to Sector Outperform from Sector Perform and increased the price target to $195. The analyst says Chevron has the highest oil torque among the integrated super majors. Also optimistic Chevron will prevail in the arbitration against Exxon Mobil and CNOOC in Guyana.

Chevron Exits Myanmar's Yadana Gas Field: Report

Chevron Corporation reportedly has left the Yadana natural gas field in Myanmar. The company condemned violence and human rights abuses there and announced it would leave in 2022. Chevron has redistributed its 41.1% stake in the gas field to the remaining shareholders. Myanmar has been in crisis since the army overthrew the elected government in 2021.

Guyana's Oil Spigot Sputters: Production Delays Reportedly Hit Revenue

Guyana’s $1.9 billion gas-to-power project is facing legal battles and potential cost overruns. First phase of a 300-megawatt power plant is running six months later than scheduled. Full operation is not expected until the fourth quarter of 2025. Exxon Mobil Corporation is building a 140-mile gas pipeline to supply the project.

Weekly Report: what happened at IYE last week (0401-0405)?

Exxon's Earnings Amidst Oil Price Challenges Has Bright Spots, Says Analyst

Goldman Sachs analyst Neil Mehta says weak oil and gas prices to impact Exxon Mobil Corp.’s first-quarter FY24 results. The company anticipated that fluctuations in gas prices would negatively influence upstream results. Upstream earnings came in above estimates, said the analyst.

Energy Woes: Exxon Mobil Warns Of Lower Q1 Earnings

Exxon Mobil Corporation expects weak oil and gas prices to impact first-quarter FY24 results. The company anticipates that fluctuations in gas prices will negatively influence its upstream results. Exxon Mobil also projects variations in industry margins will positively impact its energy products earnings. The shares of Exxon Mobil are trading lower.

Should You Invest in the iShares U.S. Energy ETF (IYE)?

Chevron JV Launches New Drilling Campaign In Venezuela: Report

Chevron's joint venture with Venezuelan state-owned oil company PDVSA launched a new drilling campaign. The U.S. Eased oil sanctions on Venezuela in October. The new drilling program is part of Chevron's plans to boost output in the country. The company has proposed adding 65,000 barrels per day to its Venezuela crude output.

Weekly Report: what happened at IYE last week (0325-0329)?

IYE: Better Energy Funds Out There

IShares U.S. Energy ETF provides exposure to U.s. Energy companies and has a net asset value of $1.3 billion. The top five holdings in the IYE ETF account for 53% of its total assets. The fund has 40 holdings, including Exxon Mobil, Chevron, ConocoPhillips, Schlumberger, and EOG Resources. IYE has a higher expense ratio compared to its peers in the energy sector.

Exxon Mobil Sounds The Alarm: Reportedly Warns On Sharp Drop In Australia's Gas Supply

Exxon Mobil Corporation reportedly warned about Australia's domestic gas supply outlook in a speech at the Australian Domestic Gas Outlook conference in Sydney. The oil giant's Australia’s Commercial Director David Berman said there is an urgent need for new investment in gas supply and infrastructure. Exxon estimates by 2030, the country's gas supply available to southern states will decrease by 44%.

Weekly Report: what happened at IYE last week (0318-0322)?

iShares U.S. Energy ETF declares quarterly distribution of $0.2962

IShares U.S. Energy ETF declares quarterly distribution of $0.2962. 30-Day SEC Yield of 2.83% as of Feb. 29. Payable Mar 27; for shareholders of record Mar 22; ex-div Mar 21. I shares U.s. EnergyETF (IYE)

TYG: Performance Laggard With No Near-Term Catalyst

Tortoise Energy Infrastructure Corp. Is a closed-end fund that invests in midstream and renewable energy companies to provide high current income. The fund has underperformed the S&P 500 Index and Alerian MLP Index since its last discussion in December of 2023. The focus on renewable energy has contributed to the fund's recent underperformance. There is no upside or downside catalyst for the fund.

Exxon Mobil's LNG Expansion On Track To Double By 2030: Report

Exxon Mobil Corporation plans to double the size of its liquefied natural gas portfolio to 40 million tons per annum by 2030. The company plans to focus on selling its gas rather than trading that of third parties. Exxon expects to revamp its LNG trading strategy in 2022.

Peek Under The Hood: IYE Has 11% Upside

Weekly Report: what happened at IYE last week (0311-0315)?