Why Chevron stock is moving today: Tengiz recovery, a new Mediterranean contract and oil prices
Chevron shares slipped 0.3% to $182.04 in midday New York trading Tuesday as Kazakhstan’s Tengiz oilfield, operated by Chevron, recovered to about 60% of peak output after January fires. Subsea7 announced a $150 million–$300 million contract from Chevron for subsea installation work in the Eastern Mediterranean. Oil prices were little changed, with Brent at $69.31 a barrel.