chevron corp. - CVX

A Chevron executive explained the company's decision to move its corporate headquarters from California to Texas, saying the Golden State is a tough place to do business.

Energy giant Chevron on Friday announced its planned corporate relocation to Houston from San Ramon, the California city where it has long been based.

Despite the oil and natural gas markets being riddled with "real concern," Chevron CEO Mike Wirth gives an optimistic argument for demand and production growth.

The combined company would be the third-largest oil and gas producer in the region behind Exxon and Chevron, with both firms having announced recent deals.

Chevron CEO Michael Wirth said he is surprised U.S. crude oil is trading under $73 a barrel and that Houthi attacks in the Red Sea pose a "very real" risk to oil prices.

Houston-based Occidental Petroleum said it will purchase CrownRock in a $12 billion deal. It expects the transaction to close in the first quarter of 2024.

The Federal Trade Commission is investigating ExxonMobil's planned acquisition of Pioneer Natural Resources over potential violations of federal antitrust law.

U.S. investors at leading energy firms rejected a climate activist group's push to align emission targets with the Paris climate pact despite the group's success in Europe.

The Biden administration suddenly announced it would postpone a major oil and gas lease sale that it previously tried to cancel, but which the Inflation Reduction Act mandates.

Senate Majority Leader Chuck Schumer and 22 Democratic senators sent a letter to the FTC calling for an antitrust probe of acquisitions by ExxonMobil and Chevron.