Academic literature on the topic 'Chevron Texaco Company Nigeria'

This paper explains the transactions, agreements, and accounting that Chevron, Texaco, and the Government of Indonesia used to structure transactions that avoided billions in U.S. income taxes. Although ChevronTexaco became a merged entity on October 9, 2001, for many years Chevron and Texaco operated as separate corporations, with each owning 50 percent of a group of primarily non-U.S. companies collectively known as Caltex. Transactions were structured such that Chevron and Texaco subsidiaries paid Caltex excessive prices for Indonesian crude oil, leading to excessive dividend income (with foreign tax credits) and cost of sales deductions on U.S. income tax returns. When one of the equal shareholders purchased more overpriced oil than the other, Caltex paid monthly “Special Dividends” to the “overlifter” that could be construed as cost rebates, not dividends. To compensate for the extra taxes it received, the Government of Indonesia provided Caltex with oil in excess of the amount called for under the formal production-sharing contract (PSC) with the Government of Indonesia. We estimate that this arrangement allowed Chevron and Texaco together to annually avoid paying some $220 million in federal income taxes and $11.1 million in state income taxes from 1964 to 2002. These estimates produce total federal and state taxes avoided of $8.6 billion and $433 million, respectively, for the combined company, ChevronTexaco.

En esta investigación se estudia la Información Geográfica Voluntaria (IGV) como herramienta para generar información geográfica independientemente de la profesión de los usuarios. Se identificaron áreas en las provincias de Orellana y Sucumbíos, en las que se realizan o se han realizado actividades petroleras, y se recorrió el denominado Toxic Tour de la Mano Negra de Chevron. Mediante el uso de la aplicación GeoODKCollect y la plataforma ONA se georreferenciaron elementos petroleros que ocasionan impactos socioambientales y riesgos para la salud de los habitantes en el noreste de la Amazonía ecuatoriana, en las provincias de Orellana y Sucumbíos. Se confirmó que la empresa Chevron – Texaco no ha ejecutado el proceso de remediación y los riesgos ambientales, sociales y de salud en la zona de estudio y sus alrededores continúan. Palbras clave: IGV, ONA, GeoODKCollect, Amazonía, Petróleo, Ecuador AbstractIn this research, Voluntary Geographic Information (VGI) is studied as a tool to generate geographic information regardless of the profession of the users. The so-called Toxic Tour de la Mano Negra de Chevronand petroleum associated gas faring sites were visited. With the use of the GeoODKCollect applicationand the ONA platform, the authors georeferenced factors associated to oil extractivism which causesocial and socioenvironmental impacts and health risks to the northeast of the Ecuadorian Amazon inhabitants, in the provinces of Orellana and Sucumbíos. It was identifed that the remediation process that the Chevron - Texaco Company has executed is insufcient and the environmental, social and health risks in the study area and its surroundings continue.Keywords: VGI, ONA, GeoODKCollect, Amazon, Oil, Ecuador

En esta investigación se estudia la Información Geográfica Voluntaria (IGV) como herramienta para generar información geográfica independientemente de la profesión de los usuarios. Se recorrió el denominado Toxic Tour de la Mano Negra de Chevronen Orellana y Sucumbíos y se visitaron puntos donde se encuentran mecheros asociados a las actividades petroleras para la quema de gas natural. Mediante el uso de la aplicación GeoODKCollect y la plataforma ONA se georreferenciaron factores asociados al extractivismo petrolero que ocasionan impactos socioambientales y riesgos para la salud de los habitantes en el noreste de la Amazonía ecuatoriana, en las provincias de Orellana y Sucumbíos. Se evidenció que el proceso de remediación ambiental de la empresa Chevron – Texaco ha sido insuficiente y los riesgos ambientales, sociales y de salud en la zona de estudio y sus alrededores continúan. Palbras clave: IGV, ONA, GeoODKCollect, Amazonía, Petróleo, Ecuador Abstract n this research, Voluntary Geographic Information (VGI) is studied as a tool to generate geographic information regardless of the profession of the users. The so-called Toxic Tour de la Mano Negra de Chevronand petroleum associated gas flaring sites were vi-sited. With the use of the GeoODKCollect application and the ONA platform, the authors georeferenced factors associated to oil extractivism which cause social and socioenvironmental impacts and health risks to the northeast of the Ecuadorian Amazon inhabitants, in the provinces of Orellana and Sucumbíos. It was identified that the remediation process that the Chevron - Texaco Company has executed is insufficient and the environmental, social and health risks in the study area and its surroundings continue. Keywords: VGI, ONA, GeoODKCollect, Amazon, Oil, Ecuador

The big oil producers are balancing the chasing of more production with delivering dividends to shareholders. So far, the scale is tipping in favor of shareholders. While recent quarterly reports have made this clear, it was reemphasized at a US House Energy and Commerce Committee hearing in April when executives from Chevron, BP America, Devon Energy, ExxonMobil, Pioneer Natural Resources, and Shell USA addressed alleged “price gouging” at the gas pump and rejected pressure to shift their record profits from paying dividends and stock buybacks to ramp up production and lower prices. The executives’ statements ranged from “We can increase production and return value to our shareholders” (Chevron CEO Michael Wirth) to Devon Energy CEO Richard Muncrief and Pioneer Natural Resources CEO Scott Sheffield stating “the answer is no” when asked if they would reduce buybacks and dividends. Gretchen Watkins, Shell USA president, said her company intends to make investor returns and increase production and investments in renewable energy. Several of the executives pointed to their industry’s record losses during the pandemic when demand tanked (global fuel consumption fell by more than 25%) and West Texas Intermediate fell off a cliff to –$40/bbl on 20 April 2020 and slowly crept up. Even if the oil price drops, retail gas prices won’t immediately follow to stem the allegations of price gouging. Garrett Golding, a senior business economist at the Federal Reserve Bank of Dallas, wrote, “In the energy economics world, this phenomenon is known as ‘rockets and feathers,’ where it is commonly observed that prices at the pump shoot up with oil prices like a rocket, but fall like a feather back to the ground after oil prices drop. There are two reasons for this scenario repeating itself during oil-price spikes: the macro-level logistics of how oil and refined products churn through the physical market and the micro-level economic decisions of service station owners and their customers.” Today, demand is strong even at average oil prices of about $103/bbl over the past 6 weeks. Now, the summer driving season is around the corner and consumers are eager to hit the road and fly the skies, finally free(r) of pandemic restrictions and concerns. Yet, the Permian rig count has remained fairly flat over the same period. Despite high oil prices (WTI just below $114/bbl on 17 May), drillers aren’t ramping up activity. Many interrelated factors affect supply and demand. Simplifying the complexity of the global market shines, at best, a narrow beam on some of the factors affecting production. The supply side is dealing with volatility of oil prices; the uncertainty of Europe’s energy supplies, including Europe’s potential embargo on Russian oil; the varied focus on energy transition; sustained fiscal restraint by smaller operators as they continue to reduce or avoid debt; the shortage of sand needed for fracturing in the North American shale plays; labor shortages; the reactivation of idled equipment; and supply chain disruptions. A supply bottleneck is affecting oil country tubular goods (OCTG), which have seen volatility related to the “weak domestic demand in China due to COVID-19 lockdowns and Chinese currency depreciation,” wrote Rystad senior analyst Marina Bozkurt in a recent market note. Business activity has been affected by shutdowns and logistics problems. “OCTG prices may remain pretty high this year, driven by higher costs of raw materials due to geopolitical tensions globally and government regulations to reduce carbon emissions.” Prices continue to increase at Japanese OCTG mills, where the focus is primarily on value-added products such as 13Cr material. Propping up prices are “tight global availability and strong demand. Despite a possible price fluctuation for raw materials, prices will unlikely cool down significantly as long as the Russia-Ukraine situation continues.” In an April report, the Federal Reserve Bank of Dallas said the growing gap between OPEC+ production quotas and actual oil production is being driven by production capacity constraints in several OPEC+ countries, largely attributable to Angola, Nigeria, and Saudi Arabia. Their capacity is limited by “infrastructure issues and the difficulty of attracting sufficient investment to offset production declines at existing wells.” The shortfall was nearly 1.1 million B/D in February, the most recent month for which there were official production data available. In May, JP Morgan lowered its outlook for 2022 global oil demand by 1 million B/D, citing higher oil prices, a weakening growth outlook, and escalating geopolitical tensions. How this plays out will affect producers’ appetite to increase or decrease their production or reconsider their priorities.

SPE Board Announces Nominees 2023 President and 2022 Directors Medhat (Med) Kamal is the nominee for 2023 SPE President. He and six others make up the new slate of nominees recommended for positions open on the SPE Board of Directors. 2023 SPE President Medhat (Med) Kamal is a Chevron Fellow Emeritus with primary responsibilities including competency development within the company, identification and development of emerging and white-space technology opportunities, and provision of technological advice and counsel to senior management. He formerly was a fellow and leader at the dynamic reservoir characterization group for Chevron Energy Technology Company. Before Chevron he worked for ARCO, Flopetrol Schlumberger, and Amoco. North America Regional Director Simeon Eburi is a frontier exploration and new ventures petroleum engineer with Chevron, responsible for generating conceptual field development for exploration and business development opportunities. He has spent much of his professional life at Chevron in roles ranging from production operations supervisor in Bakersfield, California, and decision and economic analyst/advisor for deepwater US Gulf operations to production engineer in Oklahoma. Africa Regional Director Oghogho Effiom is a senior development planner for Shell Nigeria, where she enables integration between all disciplines to ensure consistencies across projects regarding development concepts, scenarios, and decisions. She formerly was a senior production geologist with Shell Nigeria. Asia Pacific Regional Director Henricus Herwin is the vice president for technical excellence and coordination at Pertamina, facilitating the expansion of the development and production staff ’s technical capabilities through publications, training, and networking. Prior to his current post, Herwin served as vice president of geoscience and reservoir for Pertamina as well as the head of the development and planning division. Before joining Pertamina in 2018, he held various upstream positions at Total. Middle East and North Africa Regional Director Hisham Zubari is the senior advisor to the Minister of Oil for Bahrain, where he identifies, initiates, plans, and manages national energy and sustainability initiatives related to energy efficiencies, renewable energy, and circular economy. He also acts as a senior advisor to the Bahrain National Oil and Gas Authority. Prior to his current posts, Zubari was deputy chief executive officer of Tatweer Petroleum and general manager for human resources and administration for Bahrain Petroleum Company, among other positions. Completions Technical Director Karen Olson is a senior completions advisor for Well Data Labs and an independent consultant. She previously was technology director for Southwestern Energy Company. Olson has been a completion/ reservoir engineer for more than 37 years, starting her career as a fracturing engineer for The Western Company of North America. She has also worked at S.A. Holditch and Associates, Mobil Oil, and BP. Reservoir Technical Director Rodolfo Gabriel Camacho-Velázquez is a professor in the petroleum engineering department at the National University of Mexico, where he teaches courses related to naturally fractured reservoirs and provides guidance and monitors research progress on the subject. He worked with Pemex for 25 years, where he was the manager of different positions identifying assets’ technical needs and provided guidance on the dynamic characterization and behavior of complex, naturally fractured reservoirs.

The study's objectives were to evaluate the level of variability in community people's awareness and knowledge of Chevron Nigeria Limited (CNL) Regional Development Councils (RDCs) and Shell Petroleum Development Company of Nigeria (SPDC) Shell Cluster Development Boards (CDBs) and to determine whether the ascertained community people's awareness and knowledge have a significant impact on how well Multi-National Oil Corporations (MNOCs) development programmes are carried out in the host communities. Adopting the cross-sectional research design, the study surveyed 400 respondents from selected four states in the Niger Delta Oil Producing communities where RDCs and CDBs are operated. Descriptive statistics such as frequencies, means, and percentages were used to describe the socio-demographic information and the research questions. Inferential statistical tools like the One-Way Analysis of Variance and regression analysis had been used to take a look at the formulated hypotheses for the study. The findings indicate no relevant difference among community people in their state of awareness of the RDCs and CDBs but that the host community’s people poor involvement in the RDCs and CDBs resulted from inadequate requisite knowledge of the activities of MNOCs in their communities. The study recommended that every decision-making and taking process involve in project initiation, execution and implementation should involve the host communities in order to earn the people’s trust and respect.

This is the story of an unequal legal battle. It's one that the communities affected by the operations of Texaco in Lago Agrio, Ecuador, have been holding for more than twenty years, to get compensation for damages to the environment, people's health and the ways of life of the local communities, first against Texaco, and after its absorption into Chevron, against this company. This is a litigation that perfectly illustrates three aspects: the conversion of the whole world into a single area of dispute with ramifications in the United States, Ecuador, the Netherlands, Argentina, Canada, and Brazil; the limitations of the current international legal system to the actions of big transnational companies; and finally the enormous inequalities of means between parties and the determination of Chevron, whatever the price, to take all necessary measures not to lose a litigation that is already iconic.

This is the story of an unequal legal battle. It's one that the communities affected by the operations of Texaco in Lago Agrio, Ecuador, have been holding for more than twenty years, to get compensation for damages to the environment, people's health and the ways of life of the local communities, first against Texaco, and after its absorption into Chevron, against this company. This is a litigation that perfectly illustrates three aspects: the conversion of the whole world into a single area of dispute with ramifications in the United States, Ecuador, the Netherlands, Argentina, Canada, and Brazil; the limitations of the current international legal system to the actions of big transnational companies; and finally the enormous inequalities of means between parties and the determination of Chevron, whatever the price, to take all necessary measures not to lose a litigation that is already iconic.

Resolute Forest Products Inc. v. Government of Canada, PCA Case No. 2016-13, Decision on Jurisdiction and Admissibility, 30 January 2018 Chevron Corporation (“Chevron”) & Texaco Petroleum Company (“TexPet”) v. Republic of Ecuador, PCA Case No. 2009-03, Second Partial Award on Track II, 30 August 2018...

ABSTRACT The exploration and production of oil and gas mostly occurs in remote locations, so as to minimize human exposure and Health Security Safety and Environment (HSSE) risks. Shell Companies in Nigeria is not any different having operated for over 50 years in Nigeria with the largest footprint of all the international oil and gas companies operating in the country spanning over land, swamp, shallow waters and offshore terrains. Shell Petroleum Development Company, the operator of a joint venture (the SPDC JV) between the government-owned Nigerian National Petroleum Corporation – NNPC (55% share), Shell (30%), Total E&P Nigeria Ltd (10%) and the ENI subsidiary Agip Oil Company Limited (5%) focuses mostly on onshore and shallow water oil and gas production in the Niger Delta with about 60+ producing oil and gas fields and a network of approximately 5,000 kilometers of oil and gas pipelines and flow lines spread across the Niger Delta. Escravos Beach is over 60km from the closest major city, Warri, a major oil and gas zone in the Niger Delta. It is bounded by the Escravos River to the East, Chevron canal to the North and the Atlantic Ocean to the South and is covered with predominantly mangrove forest especially along the creeks and consists of a number of natural and man-made waterways (rivers, creeks and canals). Unlike most other onshore operations, this location can only be accessed via the waterways; thus requiring the rig equipment and every other equipment to be channeled via the waterways and subsequently on land to arrive at the site. The amphibious nature of this operation requires a combination of onshore and swamp requirements with increased HSSE exposure, logistics requirement and cost. This paper aims to highlight the practical experience garnered in the rig move and workover operations of Rig XYZ which operated in the Escravos Beach region.