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Chevron requiring COVID-19 vaccines for some employees, may require them for all employees: report

Chevron Corp. (CVX) is requiring some of its employees to be vaccinated with a COVID-19 vaccine, and is considering whether to extend that requirement to all of its employees, according to a report in the Wall Street Journal (link), citing people familiar with the matter. The oil giant's current vaccination requirement is for expatriate employees, workers traveling internationally and employees on U.S.-flagged ships, the report said. The requirements come as COVID-19 outbreaks have recently affected operations on offshore platforms in key areas such as the Gulf of Mexico and the Permian Basin of Texas and New Mexico. Chevron's stock, which rose 2% in premarket trading, has dropped 10.7% over the past three months, while the SPDR Energy Select Sector ETF (XLE) has lost 12% and the Dow Jones Industrial Average has gained 2.7%. Other oil companies are evaluating similar vaccine requirements, the Journal report said, as Hess Corp. (HES) is requiring vaccinations for some employees and Valero Energy Corp. (VLO) is requiring them for new hires.

-Tomi Kilgore

 

(END) Dow Jones Newswires

08-23-21 0841ET

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