Latest news with #Chevron
Yahoo
3 hours ago
- Business
- Yahoo
Chevron Boosts LNG Commitment from Energy Transfer's Lake Charles Facility to 3M Tonnes/Annum
Chevron Corporation (NYSE:CVX) is one of the undervalued S&P 500 stocks to buy according to hedge funds. On June 25, Energy Transfer (NYSE:ET) announced that its subsidiary, Energy Transfer LNG Export, has signed an incremental 20-year Sale and Purchase Agreement/SPA with Chevron USA Inc. (a subsidiary of Chevron Corporation) for an additional 1.0 million tonnes per annum/mtpa of liquefied natural gas/LNG from its proposed Lake Charles LNG export facility. The new agreement increases Chevron's total contracted volume from Energy Transfer LNG to 3.0 mtpa, which builds upon an initial 2.0 mtpa agreement signed in December 2024. Under the terms of both SPAs, the LNG will be supplied to Chevron on a free-on-board basis. The purchase price will comprise a fixed liquefaction charge and a gas supply component indexed to the Henry Hub benchmark. An aerial view of an oil rig at sea, the sun glinting off its structure. Energy Transfer LNG's obligations under the SPA are contingent upon the company making a positive final investment decision for the Lake Charles facility. The latest SPA with Chevron helps Energy Transfer in securing long-term LNG commitments for the Lake Charles LNG project. Other recent agreements include a Heads of Agreement with MidOcean Energy for ~5.0 mtpa and an SPA with Kyushu Electric Power Company for 1.0 mtpa. Chevron Corporation (NYSE:CVX) engages in integrated energy and chemicals operations in the US and internationally. Energy Transfer (NYSE:ET) provides energy-related services in the US. While we acknowledge the potential of CVX as an investment, we believe certain AI stocks offer greater upside potential and carry less downside risk. If you're looking for an extremely undervalued AI stock that also stands to benefit significantly from Trump-era tariffs and the onshoring trend, see our free report on the . READ NEXT: and . Disclosure: None. This article is originally published at Insider Monkey. Error in retrieving data Sign in to access your portfolio Error in retrieving data Error in retrieving data Error in retrieving data Error in retrieving data
Yahoo
3 hours ago
- Business
- Yahoo
Chevron Boosts LNG Commitment from Energy Transfer's Lake Charles Facility to 3M Tonnes/Annum
Chevron Corporation (NYSE:CVX) is one of the undervalued S&P 500 stocks to buy according to hedge funds. On June 25, Energy Transfer (NYSE:ET) announced that its subsidiary, Energy Transfer LNG Export, has signed an incremental 20-year Sale and Purchase Agreement/SPA with Chevron USA Inc. (a subsidiary of Chevron Corporation) for an additional 1.0 million tonnes per annum/mtpa of liquefied natural gas/LNG from its proposed Lake Charles LNG export facility. The new agreement increases Chevron's total contracted volume from Energy Transfer LNG to 3.0 mtpa, which builds upon an initial 2.0 mtpa agreement signed in December 2024. Under the terms of both SPAs, the LNG will be supplied to Chevron on a free-on-board basis. The purchase price will comprise a fixed liquefaction charge and a gas supply component indexed to the Henry Hub benchmark. An aerial view of an oil rig at sea, the sun glinting off its structure. Energy Transfer LNG's obligations under the SPA are contingent upon the company making a positive final investment decision for the Lake Charles facility. The latest SPA with Chevron helps Energy Transfer in securing long-term LNG commitments for the Lake Charles LNG project. Other recent agreements include a Heads of Agreement with MidOcean Energy for ~5.0 mtpa and an SPA with Kyushu Electric Power Company for 1.0 mtpa. Chevron Corporation (NYSE:CVX) engages in integrated energy and chemicals operations in the US and internationally. Energy Transfer (NYSE:ET) provides energy-related services in the US. While we acknowledge the potential of CVX as an investment, we believe certain AI stocks offer greater upside potential and carry less downside risk. If you're looking for an extremely undervalued AI stock that also stands to benefit significantly from Trump-era tariffs and the onshoring trend, see our free report on the . READ NEXT: and . Disclosure: None. This article is originally published at Insider Monkey.
Yahoo
15 hours ago
- Business
- Yahoo
Israel resumes natural gas exports from Karish and Leviathan gas fields
Israel's Leviathan and Karish natural gas fields have resumed operations after a near two-week shutdown due to regional conflict, reinstating vital energy exports to Egypt and Jordan. The Leviathan and Karish fields, managed by Chevron and Energean, respectively, recommenced operations after a ceasefire was reached between Israel and Iran. The reopening of these fields, which had been closed since 13 June, is set to restore natural gas supplies under existing sales agreements. The move is expected to increase gas exports, raise tax revenues, and provide greater operational flexibility for the electricity and industrial sectors. Earlier this month, Israel recommenced limited natural gas exports, prioritising domestic needs. The cessation of operations at Leviathan led to a loss of $12m (NIS40.62m) in revenue, according to a regulatory filing by Chevron's partners in Leviathan, NewMed and Ratio Energies, reported Reuters. The companies are considering seeking compensation from the state for the production halt. Leviathan, which currently produces 12 billion cubic metres (bcm) of gas annually for Israel, Egypt and Jordan, is projected to increase its output to approximately 14bcm by 2026. Israeli gas is a significant energy source for Egypt, accounting for 15–20% of its consumption, as per the Joint Organisations Data Initiative. The disruption forced Egyptian fertiliser producers to cease operations due to the gas supply shortfall. However, Egyptian Prime Minister Mostafa Madbouly has announced that gas supplies to factories will recommence from Friday, as stated in a cabinet release. According to Egyptian sources, imports from Israel are expected to ramp up gradually, with full operations likely by Saturday. Egypt also imports liquefied natural gas (LNG) for regasification. Currently, only one of the country's three floating storage and regasification units (FSRUs) is operational. The Energos Eskimo FSRU is set to become operational shortly, enhancing Egypt's capacity to regasify imported LNG and integrate it into the national gas grid. "Israel resumes natural gas exports from Karish and Leviathan gas fields" was originally created and published by Offshore Technology, a GlobalData owned brand. The information on this site has been included in good faith for general informational purposes only. It is not intended to amount to advice on which you should rely, and we give no representation, warranty or guarantee, whether express or implied as to its accuracy or completeness. You must obtain professional or specialist advice before taking, or refraining from, any action on the basis of the content on our site. Error in retrieving data Sign in to access your portfolio Error in retrieving data Error in retrieving data Error in retrieving data Error in retrieving data
Motor 1
17 hours ago
- Motor 1
‘Check the Card Slot as Well:' Chevron Customer Issues Warning on Using Tap-To-Pay for Gas. Then He Shows What to Look For
People may be aware of credit card skimmers being used to steal credit card information, but it can get worse. A man recently issued a warning about a scam that takes advantage of the tap-to-pay option at gas stations. The Real Educated Maniac (@therealeducatedmaniac) warned viewers on TikTok about being on alert when using tap-to-pay systems, as thieves have been targeting customers while they fill up their gas tanks. He says people should only use them if they've checked that they are above board. 'I'm about to show you one example of the tap-to-pay scam, and this one's at the gas station,' the creator says before walking up to a Chevron gas station pump. He says that before people just put their phone or card up to the reader, they should check to see if it is legitimate. According to the TikToker, scammers take 'a little black strip' with a symbol on it that looks identical to the one on legitimate tap-to-pay readers. He says they then place this strip on top of the reader. He goes on to explain that the sticker has a chip in it that captures credit card information when one is held up to make a payment. The danger is that the transaction usually goes through, so people don't even realize what has happened until it's too late. The man suggests scratching at the corner of the reader to see if the sticker comes off. Other Instances of Gas Station Scams In Aurora, Colorado, the police department issued an alert to the public about another scam involving the contactless payment system at gas stations. According to the Economic Crimes Division, scammers are drilling holes into the sensor that reads the card information. This forces customers to swipe their cards to pay, at which point thieves steal their information using skimming devices. What Should You Do If You Spot a Suspicious Sticker? The Aurora police advise that the best defense against contactless payment scams is to be alert when fueling up your car. Be sure to carefully check the payment reader for holes, stickers, or anything else unusual before using it to pay. If you see something unusual, alert a gas station employee. You may also consider filing a police report. Viewers Express Their Gratitude The Real Educated Maniac garnered over 121,000 views on his post. Several viewers were thankful for the PSA. 'Thank you for posting this. I'm so tired of these scammers,' one wrote. 'Thank you! They BEEN doing this,' said another seemingly unsurprised commenter. 'They have some readers that can be put in the store as well,' another user warned. Some even added their own advice and tips for paying at the gas station. 'I use a prepaid card that I add money to. To the exact amount that I'm going to pump, but thank you for the tip,' one person suggested. 'Apple Pay uses encryption to protect your data during transactions and to keep financial information secure. Your actual card number is never stored on your de[v]ice or transmitted to merchants,' one proponent of digital wallets said. Another person similarly recommended the Samsung wallet. 'I pay with cash,' commented someone else. Motor1 reached out to The Real Educated Maniac via email for further comment. This story will be updated should he respond. Now Trending 'This Is Why No One Wants to Work at Dealerships:' Mechanic Works on Audi With Nail in Tire. Then He Turns on the Computer 'I Listed It For a Fair Price:' Man Lists Jeep on Facebook. Then a Prospective Buyer Brings a Friend Named 'Tommy Roughknuckles' Get the best news, reviews, columns, and more delivered straight to your inbox, daily. back Sign up For more information, read our Privacy Policy and Terms of Use . Share this Story Facebook X LinkedIn Flipboard Reddit WhatsApp E-Mail Got a tip for us? Email: tips@ Join the conversation ( )
Globe and Mail
a day ago
- Business
- Globe and Mail
Chevron Is Boosting Its Commitment to Support This Key Energy Transfer Project
Energy Transfer (NYSE: ET) has spent the better part of the past decade working to turn its Lake Charles facility from a natural gas import terminal to a liquefied natural gas (LNG) export facility. It has faced several setbacks along the way, including losing its joint venture partner, Shell. Because of competition and market conditions, it has also struggled to secure enough commercial customers to support the facility. However, Lake Charles LNG is another step closer to becoming a reality after Chevron (NYSE: CVX) agreed to increase its volume commitment. That deal and other recent agreements put Energy Transfer within sight of finally making a final investment decision (FID) on this large-scale project. Where to invest $1,000 right now? Our analyst team just revealed what they believe are the 10 best stocks to buy right now. Continue » Adding to its allocation Energy Transfer has signed an incremental sale and purchase agreement with Chevron for additional LNG supply from its proposed Lake Charles LNG export facility. The 20-year agreement increases Chevron's total contracted volume by 1.0 million tonnes per annum (mtpa), boosting its total allotment to 3.0 mtpa. The oil giant signed its initial 2.0 mtpa deal with Energy Transfer last December. The deal will enable Chevron to grow its global gas business. Chevron operates several LNG facilities around the world. It also buys gas from third-party terminals. This strategy provides the global energy giant with a diverse, reliable, and flexible network of supplies to help meet the world's growing need for the cleaner-burning fuel. Meanwhile, the agreement puts Energy Transfer another step closer to the full commercialization of the project. It recently inked a 1.0 mtpa deal with one of Japan's leading energy companies, Kyusha Electric Company. In addition, MidOcean Energy has agreed to take 5.0 mtpa as part of its strategic partnership with Energy Transfer, where it will also take a 30% equity stake in Lake Charles LNG. Specifically, it would get 30% of the LNG production while funding 30% of the project's cost. Energy Transfer has also previously signed contracts with several other shippers, including Shell, for some of its LNG capacity. A needle-moving project As currently designed, Lake Charles LNG would have nearly 16.5 mtpa of liquefaction capacity. Energy Transfer had signed contracts for 10.4 mtpa when it reported its first-quarter results in early May. It's in discussions with other shippers regarding the remaining capacity. It aims to secure 15.0 mtpa in contracts to approve the project. In addition, Energy Transfer wants to bring on more equity partners. It's open to energy companies like MidOcean that will take LNG capacity as part of their investment, as well as infrastructure investors. It wants about 75% to 80% of the project funded by equity and infrastructure partners. The master limited partnership (MLP) hopes it can make an FID on the project by the end of this year. Lake Charles LNG would be a needle-moving project for Energy Transfer. The midstream giant would generate stable fee-based cash flow backed by LNG contracts from its retained stake in the project. On top of that, the company expects the project to fuel significant natural gas volume growth. It should boost volumes on its existing pipeline systems and provide the MLP with opportunities to expand its pipeline capacity. The growing gas volumes would provide Energy Transfer with substantial incremental earnings across its pipeline operations. Getting closer Energy Transfer continues to make progress toward finally approving Lake Charles LNG. Chevron's decision to take incremental capacity pushes it closer to its commercialization goal. Chevron's increased commitment is also a vote of confidence that should make the project more appealing to potential equity investors. Building Lake Charles LNG would be a big deal for Energy Transfer. It would provide the MLP with two meaningful sources of future incremental cash flow: its retained equity stake and volume growth across its gas pipeline system. That would give the MLP even more fuel to grow its high-yielding distribution in the future. Given this project's potential, it's a key catalyst for investors to monitor. Should you invest $1,000 in Energy Transfer right now? Before you buy stock in Energy Transfer, consider this: The Motley Fool Stock Advisor analyst team just identified what they believe are the 10 best stocks for investors to buy now… and Energy Transfer wasn't one of them. The 10 stocks that made the cut could produce monster returns in the coming years. Consider when Netflix made this list on December 17, 2004... if you invested $1,000 at the time of our recommendation, you'd have $687,731!* Or when Nvidia made this list on April 15, 2005... if you invested $1,000 at the time of our recommendation, you'd have $945,846!* Now, it's worth noting Stock Advisor 's total average return is818% — a market-crushing outperformance compared to175%for the S&P 500. Don't miss out on the latest top 10 list, available when you join Stock Advisor. See the 10 stocks » *Stock Advisor returns as of June 23, 2025
