Energy Sector 20 January 2026 - 22 January 2026

Chevron shares climbed Wednesday after reports surfaced that the U.S. oil giant is nearing a deal to sell refining and fuel distribution assets in Singapore, a transaction worth $1 billion or more. The stock gained $2.37, or 1.4%, hitting $167.67 by midday.

Chevron Corp shares slipped 0.6% to close at $165.30 on Tuesday after Reuters reported that output at Kazakhstan’s massive Tengiz oilfield might stay offline for another 7-10 days. The delay follows a power outage caused by a fire at the field’s GTES-4 power station. Sources told Reuters that five cargoes of CPC Blend crude, transported via the Caspian Pipeline Consortium route to the Black Sea, were canceled. Chevron confirmed production at both the Tengiz and Korolev oilfields was temporarily halted as a safety measure. The Tengizchevroil joint venture is split among Chevron, Exxon Mobil, Kazakhstan’s KazMunayGas, and Russia’s Lukoil.