CHEVRON (CVX) Company Report

Israel’s Energy Ministry ordered a temporary shutdown of parts of its natural gas infrastructure, including Chevron’s Leviathan offshore field, following U.S.-Israeli strikes on Iran.
Chevron confirmed receipt of the order, stated all personnel and facilities at Leviathan are safe, and that onshore operations in the Partitioned Neutral Zone remain normal.
Brent crude prices jumped to about $73/bbl (highest since July), with over-the-counter quotes near $80/bbl, reflecting fears of disrupted supply.
Hundreds of vessels are anchored in the Gulf after movements through the Strait of Hormuz halted, highlighting chokepoint risks to global oil flows.
The shutdown underscores how national security measures can override commercial operations, revealing vulnerabilities in offshore energy infrastructure.

Feb 28, 2026, 12:55 PM

Morningstar

Chevron and HelleniQ Energy sign offshore exploration leases in Greece

CVX

New Projects/Investments

Chevron and HelleniQ Energy secured four offshore hydrocarbon exploration and production concession agreements with the Greek Republic, marking a strategic expansion of their upstream portfolios.
The concessions cover South Crete 1, South Crete 2, South of Peloponnese and Block A2, spanning approximately 47,000 km² in ultra-deepwater environments.
Chevron will operate the blocks with 70% working interest, while HelleniQ Energy holds 30%, following their selection via a 2025 international competitive bid by the Greek government.
The consortium plans to undertake a three-phase exploration programme, including seismic evaluation, to assess hydrocarbon prospectivity.

Feb 17, 2026, 9:41 PM

Press Release

Chevron and HELLENiQ ENERGY sign offshore concession contracts in Greece

CVX

New Projects/Investments

Chevron (70% operator) and HELLENiQ ENERGY (30% partner) signed offshore lease contracts with the Hellenic Republic for exploration and production in four blocks in southern Crete and Peloponnese covering approximately 47,000 km².
The joint venture will conduct a three-stage exploration program in ultra-deep waters, some exceeding 1,500 meters below sea level, to assess hydrocarbon potential.
The signing ceremony in Athens was attended by Greek Prime Minister Kyriakos Mitsotakis, Chevron VP Gavin Lewis, and HELLENiQ ENERGY CEO Andreas Shiamishis.
The lease agreements are subject to ratification by the Hellenic Parliament.

Feb 17, 2026, 9:41 PM

Press Release

Chevron and HELLENiQ ENERGY sign offshore concession agreements in Greece

CVX

New Projects/Investments

Chevron (70% operator) und HELLENiQ ENERGY (30%) haben Pachtverträge mit der Republik Griechenland für vier Offshore-Blöcke südlich von Kreta und dem Peloponnes über insgesamt 47.000 km² unterzeichnet.
Die Konzessionen wurden im Rahmen einer internationalen Ausschreibung 2025 vergeben und sehen ein dreistufiges Explorationsprogramm in Tiefen von über 1.500 Metern vor.
Die Verträge müssen noch vom griechischen Parlament ratifiziert werden, bevor Explorationsaktivitäten beginnen können.
Die Unterzeichnungszeremonie in Athen verlief in Anwesenheit von Premierminister Kyriakos Mitsotakis, Chevron VP Gavin Lewis und HELLENiQ-CEO Andreas Shiamishis.

Feb 17, 2026, 9:40 PM

Press Release

Chevron and HELLENiQ ENERGY sign offshore exploration pact in Greece

CVX

New Projects/Investments

Chevron holds 70% (operator) and HELLENiQ ENERGY holds 30% in the new joint venture for Greek offshore blocks.
The JV secures rights to four deepwater blocks—“South Crete 1,” “South Crete 2,” “South of Peloponnese” and “A2”—covering 47,000 sq km.
The agreement stems from Greece’s 2025 international bid round, marking HELLENiQ ENERGY’s entry into its next growth phase.
Partners will execute a three-phase exploration program in ultra-deepwater (>1,500 m) with complex geological conditions.

Feb 17, 2026, 9:39 PM

Press Release

Chevron signs offshore oil and gas concession agreement with Greece

CVX

New Projects/Investments

Chevron will operate with a 70% interest and HELLENiQ Energy holds 30% under a new concession signed with the Greek Republic for offshore oil and gas exploration and production.
The agreement covers four high-potential blocks—South Crete 1, South Crete 2, South of Peloponnese and A2—totaling 47,000 km², under a three-phase exploration program.
HELLENiQ Energy EVP Andreas Shiamishis calls the deal a strategic step in the company’s long-term growth and energy transition plans, combining scale, technical expertise and offshore capability.
Chevron VP Gavin Lewis highlights Chevron’s global resources and technical strength will drive the development of this frontier offshore energy opportunity.

Feb 17, 2026, 9:39 PM

Press Release

Chevron signs offshore exploration leases in Greece

CVX

New Projects/Investments

Chevron, as operator with a 70% stake, and HELLENiQ ENERGY (30%) signed lease agreements with the Greek Republic for the exploration and production of hydrocarbons.
The consortium will explore four offshore blocks—South Crete 1, South Crete 2, South Peloponnisos, and Block A2—covering approximately 47,000 km² south of Crete and the Peloponnese.
The agreements, awarded through a 2025 Greek state tender, mark a key development in HELLENiQ ENERGY’s upstream portfolio and Greece’s hydrocarbon exploration efforts.

Feb 17, 2026, 9:39 PM

Press Release

Chevron releases annual reserves statement

CVX

New Projects/Investments

As at 31 December 2025, remaining proved (1P) reserves were 1,882.1 MMboe, proved plus probable (2P) reserves were 2,999.5 MMboe, and 2C contingent resources were 5,795.7 MMboe.
Excluding divestments and production, proved reserves increased by 134.1 MMboe and 2P reserves by 141.0 MMboe, driven by technical updates in Australia, Senegal and the US, and sanctioning of the Greater Western Flank 4, Turrum Phase 3 and Atlantis expansion projects.
Compared with year-end 2024, proved reserves declined from 1,975.7 MMboe to 1,882.1 MMboe, and 2P reserves fell from 3,092.2 MMboe to 2,999.5 MMboe.
At 2025 production levels, proved reserves support 8.9 years of production and 2P reserves 14.2 years.

Feb 17, 2026, 12:32 AM

Press Release

Chevron signs offshore exploration JV in Greece

CVX

New Projects/Investments

Chevron and HELLENiQ ENERGY signed lease agreements with the Hellenic Republic to explore four offshore blocks totaling approximately 47,000 km² south of Crete and the Peloponnese.
Chevron will hold a 70% operator interest in the joint venture (HELLENiQ ENERGY 30%) under a three-phase exploration program to assess hydrocarbon potential.
The concession areas lie in ultra-deepwater settings, with some blocks beyond 1,500 m sea depth targeting complex geological structures.
The agreements, signed at Athens’s Maximos Mansion, are subject to ratification by the Hellenic Parliament.

Feb 16, 2026, 6:07 PM

Press Release

Chevron secures four offshore Greece exploration leases

CVX

New Projects/Investments

Chevron, with HELLENiQ ENERGY, signed lease agreements for four offshore Greece blocks (South Crete 1 & 2; South Peloponnese; A2) for exploration.
Chevron holds a 70% operating interest (HELLENiQ ENERGY 30%) and will conduct 2D and 3D seismic surveys in phase one.
The agreements are pending ratification by the Greek Parliament.
This award complements Chevron’s Mediterranean portfolio, which includes Israeli gas fields and Cyprus’s Aphrodite field.

Feb 16, 2026, 12:05 PM

Press Release