Iraq has officially transferred management of the West Qurna-2 oil field to Chevron, significantly expanding the company's Middle Eastern footprint. This strategic move coincides with Chevron and Exxon securing the first condensate cargoes from Saudi Aramco’s Jafurah field.
- Chevron shares rose 0.58% to close at $185.00, maintaining gains despite broader market volatility following a new 15% global tariff announcement.
- Analysts at Melius Research noted that the company's disciplined 2026 capital plan and leadership reshuffle are positioning the firm for resilient shareholder returns.