Chevron Corp.'s stock surged to a new 52-week high on Wednesday. The share price traded as high as $169.97. Positive operational and governance announcements bolstered investor confidence.
A Chevron-led joint venture announced a significant offshore oil discovery in Nigeria. The company is reportedly ramping up oil shipments from Venezuela. Chevron also signed an agreement with Libya's National Oil Corporation to resume exploration activities.
Chevron appointed veteran executive Thomas W. Horton to its board of directors and audit committee. This move adds valuable expertise in governance and capital allocation.