Argentina could overtake Guyana in South American oil race

Berkshire Hathaway reduced its Chevron stake by 1/3 in Q1 2024, then acquired a $2.6B stake in Delta Air Lines, adding 44% more in Q2. Delta now represents 1% of Berkshire's portfolio, valued at $5.4B. Berkshire still holds over $30B in Chevron and Occidental.

Western Australia is investigating Chevron's Gorgon LNG project after satellite monitoring detected five large methane plumes since November 2022. The latest emission rate was 7.8 tonnes per hour. The UN previously raised concerns, and regulators are determining the source and compliance actions. Gorgon, a major LNG producer, was expected to capture more emissions than it has. The investigation highlights challenges in monitoring and enforcing emissions from large gas projects.

El Segundo and Chevron agreed to a $425M deal, increasing Chevron's payments to the city over 15 years. The agreement includes an immediate $5M donation, followed by annual payments increasing to $33M by year 11. Chevron's total contribution, including taxes, would reach $557M. The deal requires final approval by the city council. According to Chevron, the agreement more than doubles its prior contributions.

Chevron (CVX) and South32 (S32) signed a five-year deal for 55 petajoules of natural gas supply to Worsley Alumina in Western Australia, starting January 2028. Chevron says this supports Worsley's operations. South32 is selling Worsley to Alcoa (AAI) for completion by mid-2027, focusing more on copper. Worsley produced 3.72 million tonnes of alumina in FY26.

WA government confirms investigation into repeated methane leaks at Chevron's Gorgon gas complex, following initial uncertainty. The probe focuses on large emissions from the facility.

WA regulators are investigating methane leaks at Chevron's Gorgon gas project, which were detected by a UN-linked satellite. Chevron is cooperating with authorities. The project has a capacity of 15.6 million tonnes per year. Chevron has not responded to UN warnings about emissions.