Chevron Corporation News

President Barack Obama's proposed budget for fiscal year 2013 sets a responsible course for rebuilding the economy so that it works for everyone, not just the privileged few.

Global stocks rose, rebounding from the biggest loss of the year, and commodities climbed after Greek lawmakers approved austerity plans to secure rescue funds.

As the search for oil moves out to the ocean blue, big oil conglomerates are looking to secure their drilling rig supply chain.

Royal Boskalis Westminster NV fell the most in almost six months in Amsterdam trading after the world's biggest dredging company was beaten by a Belgian contractor for an order in Western Australia.

The aggregated revenue potential is estimated at US$311 million inclusive of mobilization fees and assignment specific rig modifications.

Many millions of dollars of infrastructure upgrades and new projects are testament to Esler Airport's importance to Louisiana National Guard activities. But that was only part of the Guard's mission when it took over operations of the airport near Pineville several years ago. Another was to continue to develop the airport commercially. A step was taken in that direction recently when Baton Rouge-based MMR Group completed a facility for its corporate aviation needs. An open house for the facility, which MMR Group shares with Crest Industries, was held Thursday. 'It's a great day for economic development at Esler Airport,' said Brig. Gen. Brod Veillon, airport manager. MMR Group previously based its aviation operations at Alexandria International Airport. Work on the facility at Esler was completed in December. It includes 10,000 square feet of hangar space and 3,000 square feet of office space. Between them, MMR and Crest will use three planes and seven pilots. 'I don't think you could be anything but happy with this facility,' said Pepper Rutland, president and chief executive officer of MMR Group. 'It absolutely came out beautifully.' MMR chose this part of the state for its location because it was cheaper than doing it in Baton Rouge, and it already had personnel in the area, such as Ray Proctor, who manages the company's aviation department. Veillon believes the project is 'just the beginning.' 'Over the years we've looked for commercial operators to come out to the airport and make their home here,' he said. 'I'm pleased to see this come to fruition. I believe once you have one, others will come.' Lott Oil Co. opened its second fueling pump for compressed natural gas in Mansfield on Monday. The first was at Leebo's No. 9 Chevron station off Airbase Road in Alexandria. The company plans to add natural gas capabilities at its more than two dozen stations two at a time. The pump at Mansfield was installed at the Chevron-branded Shop-A-Lott convenience store and truck stop. Lott Oil partnered on the project with Chesapeake Energy Corp., which will use the station to fuel its growing number of compressed natural gas trucks. Energy giant Chesapeake is a major player in the Haynesville Shale and a major investor in Sundrop Fuels Inc., which plans to build a biofuels plant in Rapides Parish, just north of Alexandria. In other news related to Sundrop, Learning Tree International Inc. recently announced its chief financial officer, Bob Waldron, is leaving that post to take a job with the Colorado-based biofuels company. Learning Tree provides training to IT workers and managers. A company statement said Waldron's departure is unrelated to the company recently naming a new CEO. Waldron will stay at Learning Tree through Feb. 29. Louisiana's rate of work-related injuries and illnesses in private industry dropped to its lowest level in a decade, the state Workforce Commission recently reported. Louisiana ranked fourth in the nation, tied with New York and Texas in the 2010 Survey of Occupational Injuries and Illnesses. The survey found non-fatal, work-related injuries and illnesses in Louisiana dropped to 2.7 per 100 full-time workers, down from 2.8 the prior year. The national rate is 3.5. The Louisiana rate was the state's lowest since federal Occupational Safety & Health Administration revised its record-keeping rules in 2002. 'Businesses that cultivate a workplace culture of safety in Louisiana help to protect their workers, reduce risks and maximize productivity,' said LWC Executive Director Curt Eysink. 'Workplace safety plays a big part in lowering costs related to workers' compensations claims, which translates into lower premiums for Louisiana employers.' 'Business Beat' by Jeff Matthews runs every Sunday. Send news and tips to jmatthews@thetowntalk.com or call (318) 487-6380.

The US shale gas boom and resulting low price of natural gas is spurring a wave of new crackers and expansions in the country.

An environmental group says there is a new spill on an oil well run by Italian firm Eni SpA in Nigeria's oil-rich southern delta.

US investment in Qatar is expected to exceed $8bn, mainly in the oil and gas sector, Doha Bank Group CEO R Seetharaman said, highlighting the growth in bilateral trade between the two countries.

Many players will continue to locate abroad near emerging markets with surging demand for industry products.

US Ambassador in Sofia, James Warlick, believes that the shale gas issue had been addressed too emotionally in Bulgaria.

In front of a special audience of several hundred high school kids, the Alaska Supreme Court heard oral arguments Feb.

Despite the current roadblocks to the Keystone Pipeline, many investors still remain very bullish on the future of Canadian oil sands.

Oil product pipeline and terminalling company Buckeye Pipeline Partners said on Friday it will get direct access to the New York Harbor with its purchase of Chevron's Perth Amboy plant as the region ups imports of gasoline and diesel to fill the demand left by area refinery closures.

Merced has been awarded nearly $3 million dollars in a verdict in a groundwater contamination lawsuit that Merced brought against several major oil companies.

The Black Swan event that could occur this year -- conflict with Iran and the Western World.

The investors have agreed to purchase the LP Units for a price of $58.65 per LP Unit.

BP bucked the trend of big oil companies reporting poor earnings. The company reported earnings per share of $1.59, above analyst expectations of $1.57 and revenue of $96.3 billion, above expectations of $86.2 billion.

The Australian arm of U.S. oil major Chevron Corp has launched a drive to recruit hundreds of engineers in Australia to work on two of the resource-rich country's largest energy projects.

Leading U.S. investors today announced they have filed shareholder resolutions with Exxon-Mobil, Chevron, Chesapeake Energy, ConocoPhillips and 14 other oil and gas companies, pressing them to disclose their plans for managing environmental and workplace challenges such as hydraulic fracturing, greenhouse gas emissions and worker safety.