8:54 ET -- Chevron is quietly and deliberately expanding its presence in the Eastern Mediterranean, Melius Research analysts James West and Sanskriti Reddy say in a research note. Greece, where the company recently made an acquisition and been awarded rights, marks its next frontier, they write. "With the conflict in the Middle East continuing to expose the fragility of the modern global energy system, Chevron's de-risked Eastern Mediterranean asset base and its frontier potential are differentiated and increasingly valuable." Chevron isn't alone, though. ExxonMobil is also expanding its presence in the region. "The entrance of two supermajors into the area at roughly the same time suggests these companies like what they see, and we expect others to follow," the analysts write. (connor.hart@wsj.com)

(END) Dow Jones Newswires

June 04, 2026 08:54 ET (12:54 GMT)

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