Latest news with #digitaltechnologies
Yahoo
2 days ago
- Business
- Yahoo
Will Chevron's Permian Production Strength Power Future Gains?
Chevron Corporation CVX is sharpening its focus on the Permian Basin, where it continues to expand output through efficiency gains and disciplined development. The company is leveraging digital technologies and automation to optimize drilling and production in real time, while implementing water recycling programs and methane reduction measures. These efforts are aimed at sustaining growth while aligning operations with broader environmental Q2 2025, the Permian played a central role in Chevron's upstream performance, contributing a substantial portion of the company's total production. In particular, Chevron's U.S. operations posted a strong 7.8% year-over-year volume increase in the quarter, driven largely by the Permian Basin. This low-cost, high-margin asset remains a structural advantage and a cornerstone of Chevron's near-term supply growth, helping offset natural declines elsewhere in the ahead, Chevron plans to build on this strong base by maintaining a steady pace of development activity and expanding its use of advanced completion designs. The company aims to exceed 1 million oil-equivalent barrels per day (BOE/d) from the basin by 2027, with strong well performance and efficient tie-ins supporting this goal. With multi-decade resource potential, the Permian remains critical to the company's strategy of delivering both volume growth and competitive returns. By combining scale, technology, and a lower-carbon operating approach, Chevron is positioning the basin not just as a key cash generator, but also as a model for modern, sustainable shale development. A Word on Some Other Permian Operators ExxonMobil XOM, Chevron's primary competitor, continues to break records in the Permian – the most prolific shale play in the United States. Along with second-quarter 2025 earnings, ExxonMobil announced that it produced around 1.6 million BOE/d, marking its highest output ever from this area, highlighting the fact that Permian has already become central to its growth story. ExxonMobil projects a ramping up of production from the unconventional play to 2.3 million BOE/d by 2030, suggesting a 44% jump from the current energy biggie, EOG Resources EOG, holds a dominant position in the Delaware Basin, utilizing advanced drilling techniques to maximize well productivity and returns. In the second quarter of 2025, EOG Resources' Permian assets drove 3% oil production growth and an 8% increase in total volumes. By leveraging proprietary technology and self-sourced materials, EOG Resources maintains a breakeven price in the low-$50s, ensuring consistent free cash flow and attractive shareholder returns. The Zacks Rundown on Chevron Shares of Chevron have gained nearly 7% so far this year compared with the Oil/Energy sector's increase of 2%. Image Source: Zacks Investment Research From a valuation perspective — in terms of forward price-to-earnings ratio — Chevron is trading at a premium compared to the industry average. The stock is also trading above its five-year mean of 11.86. Image Source: Zacks Investment Research See how the Zacks Consensus Estimate for Chevron's earnings has been revised over the past 60 days. Image Source: Zacks Investment Research The stock currently carries a Zacks Rank #3 (Hold). You can see the complete list of today's Zacks #1 Rank (Strong Buy) stocks here. Want the latest recommendations from Zacks Investment Research? Today, you can download 7 Best Stocks for the Next 30 Days. Click to get this free report Chevron Corporation (CVX) : Free Stock Analysis Report Exxon Mobil Corporation (XOM) : Free Stock Analysis Report EOG Resources, Inc. (EOG) : Free Stock Analysis Report This article originally published on Zacks Investment Research ( Zacks Investment Research Error in retrieving data Sign in to access your portfolio Error in retrieving data Error in retrieving data Error in retrieving data Error in retrieving data
Zawya
4 days ago
- Zawya
UAE, Egypt explore use of AI in issuing fatwas
Dr. Omar Habtoor Al Darei, Chairman of the General Authority of Islamic Affairs, Endowments and Zakat, discussed with Dr. Nazir Mohammed Ayyad, Grand Mufti of the Arab Republic of Egypt, ways to enhance cooperation, integration, and the exchange of expertise in the field of fatwa between the UAE and Egypt. The meeting took place on the sidelines of the conference 'The Making of a Competent Mufti in the Digital Age' in Cairo, in the presence of Dr. Khalifa Mubarak Al Dhaheri, Chancellor of Mohamed bin Zayed University for Humanities, Dr. Sabaa Salem Al Kaabi, Acting Secretary-General of the Emirates Fatwa Council, and several officials in religious affairs from both sides. The discussions addressed ways to harness digital technologies and artificial intelligence to deliver accurate fatwas to communities, particularly in light of contemporary challenges and complex issues facing different segments of society.
Globe and Mail
4 days ago
- Business
- Globe and Mail
Will Chevron's Permian Production Strength Power Future Gains?
Chevron Corporation CVX is sharpening its focus on the Permian Basin, where it continues to expand output through efficiency gains and disciplined development. The company is leveraging digital technologies and automation to optimize drilling and production in real time, while implementing water recycling programs and methane reduction measures. These efforts are aimed at sustaining growth while aligning operations with broader environmental goals. In Q2 2025, the Permian played a central role in Chevron's upstream performance, contributing a substantial portion of the company's total production. In particular, Chevron's U.S. operations posted a strong 7.8% year-over-year volume increase in the quarter, driven largely by the Permian Basin. This low-cost, high-margin asset remains a structural advantage and a cornerstone of Chevron's near-term supply growth, helping offset natural declines elsewhere in the portfolio. Looking ahead, Chevron plans to build on this strong base by maintaining a steady pace of development activity and expanding its use of advanced completion designs. The company aims to exceed 1 million oil-equivalent barrels per day (BOE/d) from the basin by 2027, with strong well performance and efficient tie-ins supporting this goal. With multi-decade resource potential, the Permian remains critical to the company's strategy of delivering both volume growth and competitive returns. By combining scale, technology, and a lower-carbon operating approach, Chevron is positioning the basin not just as a key cash generator, but also as a model for modern, sustainable shale development. A Word on Some Other Permian Operators ExxonMobil XOM, Chevron's primary competitor, continues to break records in the Permian – the most prolific shale play in the United States. Along with second-quarter 2025 earnings, ExxonMobil announced that it produced around 1.6 million BOE/d, marking its highest output ever from this area, highlighting the fact that Permian has already become central to its growth story. ExxonMobil projects a ramping up of production from the unconventional play to 2.3 million BOE/d by 2030, suggesting a 44% jump from the current output. Another energy biggie, EOG Resources EOG, holds a dominant position in the Delaware Basin, utilizing advanced drilling techniques to maximize well productivity and returns. In the second quarter of 2025, EOG Resources' Permian assets drove 3% oil production growth and an 8% increase in total volumes. By leveraging proprietary technology and self-sourced materials, EOG Resources maintains a breakeven price in the low-$50s, ensuring consistent free cash flow and attractive shareholder returns. The Zacks Rundown on Chevron Shares of Chevron have gained nearly 7% so far this year compared with the Oil/Energy sector's increase of 2%. From a valuation perspective — in terms of forward price-to-earnings ratio — Chevron is trading at a premium compared to the industry average. The stock is also trading above its five-year mean of 11.86. See how the Zacks Consensus Estimate for Chevron's earnings has been revised over the past 60 days. The stock currently carries a Zacks Rank #3 (Hold). You can see the complete list of today's Zacks #1 Rank (Strong Buy) stocks here. See our %%CTA_TEXT%% report – free today! 7 Best Stocks for the Next 30 Days Want the latest recommendations from Zacks Investment Research? Today, you can download 7 Best Stocks for the Next 30 Days. Click to get this free report Chevron Corporation (CVX): Free Stock Analysis Report Exxon Mobil Corporation (XOM): Free Stock Analysis Report EOG Resources, Inc. (EOG): Free Stock Analysis Report This article originally published on Zacks Investment Research (
Emirates 24/7
05-08-2025
- Business
- Emirates 24/7
Parkin to Introduce Smart, Community-Centric Parking Solutions to Enhance Mobility Across Key Communities in Dubai
Parkin Company PJSC ('Parkin' or the 'Company'), Dubai's leading provider of paid public parking facilities and services, is pleased to announce a strategic agreement with Dubai Holding, a diversified global investment company with investments in more than 30 countries, to introduce parking solutions across a number of master-planned communities in Dubai. Key Takeaways • Under the terms of the new agreement, Parkin will operate and manage c.29.6k paid parking spaces • The initiative expands Parkin's total developer-owned portfolio to c.50.4k( ) spaces, with a moderate impact on operational income from mid-Q3 2025 Through this agreement, Parkin will oversee the end-to-end management of parking operations, by deploying its advanced digital technologies, enforcement systems and real-time data analytics to enhance operational efficiency and optimise parking management across the designated areas. The implementation of controlled parking comes in response to increasing pressure on parking availability across key destinations. By introducing a customer-centric and digitally enabled parking model, the collaboration is expected to create added value for Dubai Holding's communities, enhancing space optimisation, accessibility, smart mobility and urban connectivity. Parkin's agreement with Dubai Holding reflects a shared commitment by both entities to invest in the infrastructure and technology needed to support a modern, efficient and user-friendly mobility system. The partnership aims to improve traffic flow, reduce congestion and enhance the day-to-day mobility experience for residents and visitors. Eng. Mohamed Abdulla Al Ali, CEO of Parkin, commented: 'This strategic partnership with Dubai Holding strengthens our presence in the private developer parking segment, enabling us to extend our market-leading parking solutions across key communities in the emirate, while delivering integrated urban mobility experiences that enhance our customers' quality of life. The operational rollout will proceed in phases, fully aligned with Parkin's rigorous operational standards and commitment to improving efficiency and day-to-day convenience. This collaboration represents a key milestone in Parkin's expansion strategy and underscores our dedication to continue developing efficient, sustainable and resident-centric infrastructure in support of Dubai's ongoing expansion.'
South China Morning Post
14-07-2025
- Business
- South China Morning Post
Global sovereign wealth funds increasing allocations to Chinese assets: Invesco
Global sovereign wealth funds are increasing their allocations to Chinese assets, betting on the country's prowess in digital technologies, renewable energy and advanced manufacturing to drive returns and hedge geopolitical risks, according to an Invesco study. Nearly 60 per cent of sovereign wealth funds said they planned to increase their investments in China over the next five years, higher than in 2024, the study revealed on Monday. The Invesco Global Sovereign Asset Management study was conducted between January and March, just before the US rolled out tariffs on its trading partners , including China. The study also coincided with global excitement over China's home-grown, cost-effective chatbot from DeepSeek Interest in Chinese assets was particularly pronounced among sovereign funds in Asia-Pacific and Africa, with 88 per cent and 80 per cent, respectively, expressing intentions to increase their investments. Around 73 per cent of North American funds, which are focused on long-term structural opportunities, showed a willingness to increase their exposure to China. The global funds cited several factors when justifying their increased China investments. Some 71 per cent identified strong returns made in China, 63 per cent said they wanted to diversify and 45 per cent cited increased market access for foreign investors. The most attractive sectors for investment in China were digital technology and software, advanced manufacturing and automation, and clean energy and green technology, the report said.
