Chevron commits to Nigeria 2025 licensing round, plans rig deployment in 2026

[Chevron Reports $8.3 Billion Loss For Second Quarter] Justin Sullivan/Getty Images News Chevron (CVX [https://seekingalpha.com/symbol/CVX]) said it plans to participate [https://www.reuters.com/business/energy/chevron-join-nigeria-oil-licence-auction-plans-rig-deployment-2026-2025-12-05/] in Nigeria’s next oil licensing round and deploy a drilling rig in 2026 as it seeks to expand operations in the country, Reuters reported Friday. "Our intention is to continue to grow in Nigeria," Chevron's (CVX [https://seekingalpha.com/symbol/CVX]) Nigeria/Mid-Africa top executive Jim Swartz told Reuters after meeting the Nigerian Upstream Petroleum Regulatory Commission, citing improved regulatory clarity and security. Chevron (CVX [https://seekingalpha.com/symbol/CVX]) announced an agreement this week [https://seekingalpha.com/news/4526692-totalenergies-to-sell-40-interest-in-nigerian-offshore-blocks-to-chevron-unit] to acquire a 40% stake in two offshore exploration licences from TotalEnergies (TTE [https://seekingalpha.com/symbol/TTE]) and is seeking regulatory approval to accelerate development; TotalEnergies also has expressed interest in joining the Nigeria auction. Swartz said Chevron (CVX [https://seekingalpha.com/symbol/CVX]) plans to deploy a rig in Nigeria late next year to drill a newly discovered resource near Agbami and extend leases on existing assets. The executive also said Chevron (CVX [https://seekingalpha.com/symbol/CVX]) did not record any oil theft or sabotage in the past year, its longest-ever period without disruptions in its Nigerian operations. MORE ON CHEVRON * Chevron Analyst/Investor Day - Slideshow [https://seekingalpha.com/article/4844309-chevron-corporation-cvx-analyst-investor-day-slideshow] * Chevron: China's Strategic Reserve And $60 Oil Prices Lead To A Downgrade [https://seekingalpha.com/article/4842102-chevron-chinas-strategic-reserve-and-oil-prices-lead-to-downgrade] * Chevron Crosses 4 Million Barrels Per Day In Production [https://seekingalpha.com/article/4841002-chevron-crosses-4-million-barrels-per-day-in-production]