financetom
Business
financetom
/
Business
/
Chevron expects up to $400 million quarterly impact from Hess deal
News World Market Environment Technology Personal Finance Politics Retail Business Economy Cryptocurrency Forex Stocks Market Commodities
Chevron expects up to $400 million quarterly impact from Hess deal
Sep 25, 2025 5:28 AM

(Reuters) -Chevron ( CVX ) said on Thursday it was expecting a loss of $200 million to $400 million in the third quarter due to the impact related to the acquisition of Hess.

Chevron ( CVX ) closed its $55 billion buyout of Hess in July after winning a landmark legal battle against larger rival Exxon Mobil to gain access to the largest oil discovery in decades.

Excluding severance charges and other costs related to the $55 billion transaction, the U.S. energy major expects an impact of $50 million to $150 million on adjusted earnings in the quarter.

Chevron ( CVX ) added that it was expecting net oil-equivalent production to range between 450,000 and 500,000 barrels of oil equivalent per day for the third quarter, including some downtime.

Capital spending for the current quarter is expected to range from $1 billion to $1.25 billion.

(Reporting by Vallari Srivastava in Bengaluru; Editing by Anil D'Silva)

Comments
Welcome to financetom comments! Please keep conversations courteous and on-topic. To fosterproductive and respectful conversations, you may see comments from our Community Managers.
Sign up to post
Sort by
Show More Comments
Related Articles >
Ericsson Reports Q2 Earnings, Lower Sales
Ericsson Reports Q2 Earnings, Lower Sales
Jul 15, 2025
04:54 AM EDT, 07/15/2025 (MT Newswires) -- Ericsson (ERIC) reported Q2 earnings Tuesday of 1.37 Swedish krona ($0.14) per diluted share, swinging from a loss of 3.34 krona a year earlier. Analysts polled by FactSet expected EPS of 1.10 krona. Net sales for the quarter ended June 30 were 56.13 billion krona, down from 59.85 billion krona a year earlier....
Nvidia Filing Applications to Resume H20 GPU Sales in China; Shares Up Pre-Bell
Nvidia Filing Applications to Resume H20 GPU Sales in China; Shares Up Pre-Bell
Jul 15, 2025
05:02 AM EDT, 07/15/2025 (MT Newswires) -- Nvidia ( NVDA ) is filing applications to resume selling the NVIDIA H20 GPU in China, targeting to start deliveries soon, according to a Monday statement from the company. According to Chief Executive Jensen Huang, the US government has assured that the relevant licenses will be granted. No timeline was disclosed, the company...
Google agrees $36 million fine for anti-competitive deals with Australia telcos
Google agrees $36 million fine for anti-competitive deals with Australia telcos
Aug 17, 2025
SYDNEY, Aug 18 (Reuters) - Google agreed on Monday to pay a A$55 million ($35.8 million) fine in Australia after the consumer watchdog found it had hurt competition by paying the country's two largest telcos to pre-install its search application on Android phones, excluding rival search engines. The fine extends a bumpy period for the Alphabet-owned internet giant in Australia,...
VW resumes exports of ID.Buzz bus to US, Focus reports
VW resumes exports of ID.Buzz bus to US, Focus reports
Jul 15, 2025
July 15 (Reuters) - German automaker Volkswagen has resumed deliveries of its ID.Buzz electric minibus to the United States, a company spokesperson said on Tuesday, confirming a report by Focus magazine. The exports were halted due to a technical recall and the issue of tariffs imposed by President Donald Trump's administration, a Handelsblatt media report had said last week. The...
Copyright 2023-2026 - www.financetom.com All Rights Reserved