01:24 PM EDT, 03/24/2026 (MT Newswires) -- Chevron ( CVX ) is planning to buy an initial 20,000 barrels a day of crude oil from Sable Offshore's ( SOC ) platforms off the coast of Santa Barbara, California, Bloomberg reported Tuesday, citing a Chevron ( CVX ) executive.

Andy Walz, president of Chevron's ( CVX ) downstream, midstream and chemicals businesses, said the company will run Sable's crude at its El Segundo refinery in April, according to the report.

Chevron ( CVX ) and Sable Offshore ( SOC ) did not immediately respond to MT Newswires' request for comment.

Shares of Sable Offshore ( SOC ) and Chevron ( CVX ) were up 5.6% and 1.4% respectively in Tuesday trading.

(Market Chatter news is derived from conversations with market professionals globally. This information is believed to be from reliable sources but may include rumor and speculation. Accuracy is not guaranteed.)

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