Latest news with #Chevron-operated
TimesLIVE
3 days ago
- Business
- TimesLIVE
Chevron CEO warned staff of safety issues before fatal Angola platform fire
"Preventing fatalities and serious incidents is our top priority," a Chevron spokesperson said when asked about the video. On May 20, a fire broke out on a Chevron-operated deepwater platform about 97km off Angola's coast. Three workers died and another 15 workers were injured. Last year the company recorded 12 serious injuries and one fatality, according to its corporate sustainability report. Some of the injured workers from the Angola fire are still receiving treatment, said Clay Neff, Chevron's recently named president of upstream, in a separate video message to staff on May 30, which was also viewed by Reuters. An investigation into the cause of the fire is under way and the company expects to learn more in the coming weeks, he added. Chevron has held what Wirth called safety stand-downs across the business, or meetings to discuss safety. 'We prioritise safety above production, and we show it through actually stopping production, and have the time to talk to folks and hear from them as well," said Marissa Badenhorst, Chevron's vice-president of health, safety and environment, in an interview with Reuters. "We hear what is getting in their way, what they're concerned about … and then we learn and we start work back up.' In his May 30 video addressing the Angola incident, Neff echoed Wirth's earlier message, telling staff that there was an increase in reported incidents across the business that could have resulted in serious injuries or fatalities, many involving routine daily tasks. "These were close calls where seconds or feet could have changed everything and they are stark reminders no one is immune," he said. Neff called on employees to understand risks, do proper planning and understand what skill sets are required: "Nothing matters more than everyone going home safe."
Yahoo
4 days ago
- Business
- Yahoo
Exclusive-Chevron CEO warned staff of rising safety issues before fatal Angola platform fire
By Sheila Dang HOUSTON (Reuters) -Chevron CEO Mike Wirth told employees they needed to reinforce safety standards after a growing number of injury near-misses in an internal video message on April 29, just weeks before three workers died due to a fire on one of the company's oil platforms in Angola. "We've seen a concerning increase in serious near-misses, especially over the last few weeks," Wirth said in the video, which Reuters has viewed. "Some of these events could have resulted in fatalities." The warning came after the U.S. oil major announced in February that it is laying off up to 20% of its workforce to cut costs. Several top energy companies including rival ConocoPhillips and oil service provider SLB have planned layoffs this year as the lowest oil prices in four years reduce their revenues. In the two-minute video titled "do it safely or not at all," Wirth told staff to double down on safety practices, regardless of challenges inside and outside Chevron. "I know there's a lot going on right now, with changes underway both inside the company and in the world around us," he said. "I learned some people feel that speaking up and stopping work is risky in the current environment. It is not." Wirth also said the company was working to reinforce and recommit to a focus on safety. "Preventing fatalities and serious incidents is our top priority," a Chevron spokesperson said when asked about the video. On May 20, a fire broke out on a Chevron-operated deepwater platform about 60 miles (97 km) off Angola's coast. Three workers died and another 15 workers were injured. Last year, the company recorded 12 serious injuries and one fatality, according to its corporate sustainability report. Some of the injured workers from the Angola fire are still receiving treatment, said Clay Neff, Chevron's recently named president of upstream, in a separate video message to staff on May 30, which was also viewed by Reuters. An investigation into the cause of the fire is underway and the company expects to learn more in the coming weeks, he added. SAFETY STAND-DOWNS Chevron has held what Wirth called safety stand-downs across the business, or meetings to discuss safety. 'We prioritize safety above production, and we show it through actually stopping production, and have the time to talk to folks and hear from them as well," said Marissa Badenhorst, Chevron's vice president of health, safety and environment, in an interview with Reuters. "We hear what is getting in their way, what they're concerned about … and then we learn and we start work back up.' In his May 30 video addressing the Angola incident, Neff echoed Wirth's earlier message, telling staff that there was an increase in reported incidents across the business that could have resulted in serious injuries or fatalities, many involving routine daily tasks. "These were close calls where seconds or feet could have changed everything and they are stark reminders no one is immune," he said. Neff called on employees to understand risks, do proper planning and understand what skill sets are required. "Nothing matters more than everyone going home safe."
Yahoo
4 days ago
- Business
- Yahoo
Exclusive-Chevron CEO warned staff of rising safety issues before fatal Angola platform fire
By Sheila Dang HOUSTON (Reuters) -Chevron CEO Mike Wirth told employees they needed to reinforce safety standards after a growing number of injury near-misses in an internal video message on April 29, just weeks before three workers died due to a fire on one of the company's oil platforms in Angola. "We've seen a concerning increase in serious near-misses, especially over the last few weeks," Wirth said in the video, which Reuters has viewed. "Some of these events could have resulted in fatalities." The warning came after the U.S. oil major announced in February that it is laying off up to 20% of its workforce to cut costs. Several top energy companies including rival ConocoPhillips and oil service provider SLB have planned layoffs this year as the lowest oil prices in four years reduce their revenues. In the two-minute video titled "do it safely or not at all," Wirth told staff to double down on safety practices, regardless of challenges inside and outside Chevron. "I know there's a lot going on right now, with changes underway both inside the company and in the world around us," he said. "I learned some people feel that speaking up and stopping work is risky in the current environment. It is not." Wirth also said the company was working to reinforce and recommit to a focus on safety. "Preventing fatalities and serious incidents is our top priority," a Chevron spokesperson said when asked about the video. On May 20, a fire broke out on a Chevron-operated deepwater platform about 60 miles (97 km) off Angola's coast. Three workers died and another 15 workers were injured. Last year, the company recorded 12 serious injuries and one fatality, according to its corporate sustainability report. Some of the injured workers from the Angola fire are still receiving treatment, said Clay Neff, Chevron's recently named president of upstream, in a separate video message to staff on May 30, which was also viewed by Reuters. An investigation into the cause of the fire is underway and the company expects to learn more in the coming weeks, he added. SAFETY STAND-DOWNS Chevron has held what Wirth called safety stand-downs across the business, or meetings to discuss safety. 'We prioritize safety above production, and we show it through actually stopping production, and have the time to talk to folks and hear from them as well," said Marissa Badenhorst, Chevron's vice president of health, safety and environment, in an interview with Reuters. "We hear what is getting in their way, what they're concerned about … and then we learn and we start work back up.' In his May 30 video addressing the Angola incident, Neff echoed Wirth's earlier message, telling staff that there was an increase in reported incidents across the business that could have resulted in serious injuries or fatalities, many involving routine daily tasks. "These were close calls where seconds or feet could have changed everything and they are stark reminders no one is immune," he said. Neff called on employees to understand risks, do proper planning and understand what skill sets are required. "Nothing matters more than everyone going home safe." Sign in to access your portfolio
Business Recorder
22-04-2025
- Business
- Business Recorder
Chevron cuts output at Wheatstone LNG facility for planned maintenance
SINGAPORE: Chevron is conducting minor planned maintenance at its Wheatstone natural gas facility in Australia, temporarily reducing production rates on LNG Train 1, a company spokesperson said on Tuesday. 'The annual service event is expected to be completed within the coming week,' the spokesperson said, adding that domestic gas production has remained unaffected. Chevron announces first oil at Ballymore project in US Gulf The Chevron-operated Wheatstone facility comprises two LNG trains with a combined export capacity of 8.9 million tons per annum, and a domestic gas plant. Last year, two-thirds of its LNG exports were shipped to Japan, according to data by analytics firm Kpler.
Reuters
04-04-2025
- Business
- Reuters
OPEC+ surprise output hikes highlight fading discipline: Bousso
LONDON, April 4 - OPEC+'s surprise decision to add more oil to a well-supplied market reeling from the prospect of a global economic trade war suggests the group is struggling to keep its own house in order. The Organization of the Petroleum Exporting Countries and its partners including Russia on Thursday held a video conference that was widely expected to be a benign event for markets. Instead, the eight key OPEC+ members caught the market off guard when announcing that the group would accelerate the planned unwinding of years-long output cuts. OPEC+ said in a statement, opens new tab that the decision to release 411,000 barrels per day in May, the equivalent of three months of hikes under the previous plans, reflected "continuing healthy market fundamentals and the positive market outlook". The reasoning and timing appear almost laughable, given that the announcement came as global markets and oil prices were plummeting after U.S. President Donald Trump's "Liberation Day" tariff announcement stoked concerns about a global economic slowdown. Moreover, the International Energy Agency had forecast that the oil market would be in a supply surplus this year even before these new increases. Brent crude oil prices lost 7% on Thursday, and the sharp slide continued on Friday after China announced retaliatory tariffs, bringing prices to $65.60 a barrel and well into lows last seen during the depths of the coronavirus pandemic. It is hard to gauge the exact impact of the OPEC+ announcement on oil prices given the broader context, but it certainly added to the bearish sentiment. OPEC+ is set to next meet on 5 May, where it will decide on June output. So what accounts for this bewildering OPEC+ decision and its timing? In two words, internal politics. More precisely, how to deal with members' persistent lack of compliance with production quotas. And even more specifically, Kazakhstan's lack of compliance. The OPEC+ group has been highly effective in managing global supplies and oil prices in recent years. But lack of adherence to the group's production quotas has become a growing issue as members including Kazakhstan, the United Arab Emirates and Iraq have ramped up production capacity in violation of these limits. The group's de-facto leader Saudi Arabia, which has implemented the deepest supply cuts, must have been particularly irritated to hear that Kazakhstan's oil and condensate output reached a record high of 2.17 million bpd in March following the start-up of the Chevron-operated giant Tengiz oilfield. Excluding condensate, Kazakhstan's oil production increased last month to 1.88 million bpd from 1.83 million bpd in February, according to Reuters, far exceeding its OPEC+ output quota of 1.468 million bpd. Russia may also not be too pleased with the central Asian country. Russian authorities recently closed two of the three moorings at the Black Sea port of Novorossiisk, through which Kazakhstan exports the vast majority of its crude to global markets. It is not unthinkable that Kazakhstan's growing exports were a key driver behind this action. The output increases will be welcome in Washington, as the Trump administration has been calling for lower oil prices. And the availability of more oil could soften the blow from any potential new U.S. sanctions on Iran, including Trump's threat to impose secondary sanctions on buyers of Iranian oil. Iran exported around 1.5 million bpd in 2024, mostly to China. The sharp declines in oil prices will certainly act as a deterrent for some laggard members, like Iraq and Kazakhstan, which require higher prices to balance national budgets. Perhaps this is Saudi's way to get back at them, although the kingdom itself requires an oil price of nearly $100 a barrel to balance its budget. Ultimately, the decision to pump more crude oil into an over-supplied market facing massive downside risk was clearly not driven by rational economics. Instead, it likely stemmed from a desire to mask members' lack of discipline and to show the world that OPEC+ is still in control. But with Kazakhstan and other members blatantly ignoring their commitments, this episode only highlights how much the group of producers is struggling to maintain control of its narrative. ** The opinions expressed here are those of the author, a columnist for Reuters ** Want to receive my column in your inbox every Thursday, along with additional energy insights and trending stories? Sign up for my Power Up newsletter here.
