Chevron Corporation (CVX) has reported its third-quarter 2026 earnings, revealing a net income of $9.9 billion, or $5.06 per diluted share. The company's adjusted earnings were slightly higher at $10.4 billion, or $5.28 per diluted share. These figures reflect Chevron's strong financial performance in the latest quarter.
In a separate but significant development, Chevron has agreed to sell a 25% stake in Namibia’s offshore PEL 82 block to QatarEnergy. The deal is subject to regulatory approval, and Chevron will retain a 55% operating stake in the asset. The terms of the sale were not disclosed.
The transaction marks a strategic shift for Chevron, as it continues to optimize its global portfolio while maintaining a significant presence in key offshore projects. The sale to QatarEnergy underscores the growing interest in Namibia’s emerging energy sector.