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Stock Market & Financial Investment News

News Breaks
February 8, 2013
09:03 EDTCVXChevron says tribunal finds Ecuador in breach of its obligations
Chevron announced that an international arbitration tribunal issued an award finding that the Republic of Ecuador has violated the Tribunalís prior Interim Awards authorized under international law and a treaty between the United States and Ecuador by not preventing the attempted enforcement of a $19B judgment against Chevron. In prior rulings, the Tribunal put the Republic on notice that if Chevronís arbitration ultimately prevails, ďany loss arising from the enforcement of (the judgment) may be losses for which the (Republic) would be responsible to (Chevron) under international law.Ē In its ruling, the Tribunal found that ďNeither disagreement with the Tribunalís orders and awards on interim measures nor constraints under Ecuadorian law can excuse the failure of the (Republic), through any of its branches or organs, to fulfil its obligations under international law imposed by the Treaty, the UNCITRAL Rules and the Tribunalís orders and awards thereunder, particularly the First and Second Interim Awards on Interim Measures.Ē In August 2011, a different international arbitration tribunal convened under the BIT awarded Chevron and Texaco Petroleum $96M, plus interest, in a claim against the Republic of Ecuador related to past oil operations. The Tribunal found that Ecuador's courts violated the BIT and international law through their decade-long delays in ruling on certain commercial disputes between Texaco Petroleum and the Ecuadorian government. A court in the Netherlands has upheld the award and Ecuador has filed a second appeal.
News For CVX From The Last 14 Days
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August 1, 2014
16:24 EDTCVXOn The Fly: Closing Wrap
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13:46 EDTCVXOn The Fly: Midday Wrap
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11:06 EDTCVXChevron lowers FY14 production view by 1%-2%
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08:35 EDTCVXChevron says Gorgon remains on track for expected start up in mid-2015
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08:34 EDTCVXChevron reports Q2 worldwide net oil equivalent production 2.55M boepd
Worldwide net oil-equivalent production was 2.55 million barrels per day in second quarter 2014, down from 2.58 million barrels per day in the 2013 second quarter. Production increases from project ramp-ups in the United States, Nigeria, Brazil and Argentina were more than offset by price and other production entitlement effects in several locations, normal field declines, and maintenance-related downtime at Tengizchevroil in Kazakhstan. U.S. upstream earnings of $1.05 billion in second quarter 2014 were down $29 million from a year earlier, as gains on asset sales and stronger crude oil and natural gas realizations were more than offset by additional depreciation, exploration and operating expenses. Net oil-equivalent production of 667,000 barrels per day in second quarter 2014 was up 8,000 barrels per day, or 1 percent, from a year earlier. Production increases in the Permian Basin in Texas and New Mexico and the Marcellus Shale in western Pennsylvania were partially offset by normal field declines elsewhere. The net liquids component of oil-equivalent production increased 1 percent in the 2014 second quarter to 460,000 barrels per day, while net natural gas production also increased 1 percent, to 1.24 billion cubic feet per day. International upstream earnings of $4.21 billion increased $344 million from second quarter 2013. Net oil-equivalent production of 1.88 million barrels per day in second quarter 2014 was down 45,000 barrels per day, or 2 percent, from a year ago. U.S. downstream operations earned $517 million in second quarter 2014 compared with earnings of $138 million a year earlier. Refinery crude oil input of 761,000 barrels per day in second quarter 2014 decreased 53,000 barrels per day from the year-ago period. International downstream operations earned $204 million in second quarter 2014 compared with $628 million a year earlier. Refinery crude oil input of 844,000 barrels per day in second quarter 2014 decreased 28,000 barrels per day from the year-ago period.
08:32 EDTCVXChevron reports Q2 EPS $2.98, consensus $2.66
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07:30 EDTCVXU.S. oil and gas companies paying less in taxes amid shale boom, WSJ says
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July 31, 2014
15:38 EDTCVXNotable companies reporting before tomorrow's open
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July 30, 2014
08:26 EDTCVXChevron August weekly volatility elevated into Q2
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July 21, 2014
09:00 EDTCVXChevron's Pascagoula refinery begins commercial production
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