BOE Report

Chevron announces fourth quarter results

SAN RAMON, Calif. - Chevron Corporation (NYSE: CVX) today reported earnings of $6.4 billion ($3.33 per share - diluted) for fourth quarter 2022, compared with $5.1 billion ($2.63 per share - diluted) in fourth quarter 2021. Included in the current quarter were $1.1 billion of international upstream write-off and impairment charges, and pension settlement costs of $17 million. Foreign currency effects decreased earnings by $405 million. Adjusted earnings of $7.9 billion ($4.09 per share - [Read more]

Imperial approves $720 million for largest renewable diesel facility in Canada

CALGARY, Alberta - Imperial (TSE: IMO, NYSE American: IMO) said today it will further help Canada achieve its net zero goals by investing about $720 million (USD $560 million) to move forward with construction of the largest renewable diesel facility in the country. The project at Imperial’s Strathcona refinery near Edmonton is expected to produce more than one billion litres of renewable diesel annually primarily from locally sourced feedstocks and could help reduce greenhouse gas emissions in [Read more]

Chevron increases quarterly dividend; announces $75B stock repurchase program

SAN RAMON, Calif. - The Board of Directors of Chevron Corporation (NYSE: CVX) today declared a quarterly dividend of one dollar and fifty-one cents ($1.51) per share, an increase of nine cents ($0.09) per share or approximately 6 percent. The dividend is payable March 10, 2023, to all holders of common stock as shown on the transfer records of the Corporation at the close of business February 16, 2023. This increase puts Chevron on track to make 2023 the 36th consecutive year with an increase in [Read more]

Imperial provides 2023 corporate guidance outlook

CALGARY, Alberta--(BUSINESS WIRE)--Imperial (TSE: IMO, NYSE American: IMO) today provided an update on its corporate guidance outlook for 2023. The company’s corporate strategy remains focused on maximizing performance of existing assets and select growth initiatives, while prioritizing shareholder returns and delivering key sustainability initiatives. Capital spending is forecast at $1.7 billion and includes a planned ramp-up for the Strathcona Renewable Diesel project, application of [Read more]

Imperial announces completion of its $1.5 billion substantial issuer bid

CALGARY, Alberta -Imperial Oil Limited (TSE: IMO, NYSE American: IMO) announced today that it has taken up and paid for 20,689,655 common shares (“Shares”) at a price of $72.50 per Share (the “Purchase Price”) under Imperial’s offer (the “Offer”) to purchase for cancellation up to $1.5 billion of its Shares. All amounts are in Canadian dollars. The Shares purchased represent an aggregate purchase of $1.5 billion and 3.4 percent of the total number of Imperial’s issued and outstanding Shares [Read more]

Imperial announces preliminary results of its substantial issuer bid

CALGARY, Alberta--(BUSINESS WIRE)--Imperial Oil Limited (TSE: IMO, NYSE American: IMO) announced today the preliminary results of its substantial issuer bid (the “Offer”), pursuant to which Imperial offered to purchase for cancellation up to $1.5 billion of its common shares (the “Shares”). The Offer proceeded by way of a modified Dutch auction, which had a tender price range from $72.50 per Share to $87.00 per Share, and included the option for shareholders to participate via a proportionate [Read more]

ExxonMobil announces corporate plan

IRVING, Texas - ExxonMobil today announced its corporate plan for the next five years, with a sizeable increase in investments aimed at emission reductions and accretive lower-emission initiatives, including its Low Carbon Solutions business. The corporate plan through 2027 maintains annual capital expenditures at $20-$25 billion, while growing lower-emissions investments to approximately $17 billion. This disciplined approach prioritizes high-return, low-cost-of-supply assets in the Upstream [Read more]

Imperial announces terms of its substantial issuer bid for up to $1,500,000,000 and receipt of exemptive relief

CALGARY, Alberta - Imperial Oil Limited (TSE: IMO, NYSE American: IMO) announced today the terms of its substantial issuer bid (the “Offer”) pursuant to which the company will offer to purchase for cancellation up to $1,500,000,000 of its common shares (the “Shares”). Subject to obtaining certain exemptive relief under applicable securities laws in the United States, the Offer will proceed by way of a modified Dutch auction that includes the ability for shareholders to participate via a [Read more]

Imperial announces third quarter 2022 financial and operating results

Quarterly net income of $2,031 million and cash flow from operating activities of $3,089 million Upstream production of 430,000 gross oil-equivalent barrels per day driven by strong production at Kearl and Cold Lake Sustained strong Downstream operating performance with quarterly refinery capacity utilization of 100%, highest in over 40 years Reduced debt by $1 billion using proceeds from the sale of interests in XTO Energy Canada Quarterly dividend increased by 29 percent from 34 [Read more]

SeekOps and Repsol Canada receives Alberta Energy Regulatory approval in Alt-FEMP filing

AUSTIN, Texas - SeekOps Inc., a leader in greenhouse gas emissions detection, quantification and reporting solutions, is the technology at the heart of an Alternative Fugitive Emission Management Program (Alt-FEMP), submitted by Repsol, that has now received approval from the Alberta Energy Regulator. Using their best-in-class, part-per-billion sensitive sensors, SeekOps deploys state-of-the-art unmanned aerial systems that leverage autonomous operations for swift, repeatable and consistent [Read more]