Displaying items by tag: Chevron

Chevron Corporation (NYSE: CVX) announced that the company’s participating North American upstream assets earned Project Canary’s highest ratings on operational and environmental performance. Project Canary’s independent analysis was conducted on Chevron assets in Texas and Colorado by the Denver-based climate tech and environmental assessment company.

As a result of the certification process, 82 wells achieved “Platinum” status and 3 wells received “Gold” status, Project Canary’s highest ratings and confirmation of Chevron’s industry-leading practices, including continuous monitoring. Chevron plans to market RSG from the certified assets in the second half of 2022.

Chevron logo 2020“This certification is an important milestone in our journey to deliver affordable, reliable, ever-cleaner energy to a growing world. Chevron deploys several technologies to detect and measure methane emissions and certified responsibly sourced gas is part of our broader commitment to lowering the carbon emissions intensity of our operations,” said Steve Green, president, Chevron North America Exploration and Production. “In addition to demonstrating transparency, an independent assessment provides validation of our current practices and insights to inform and shape how we continue to achieve our lower carbon aspirations.”

The pilot project focuses on two sites in the Midland Basin of the Permian in Texas and three sites in Chevron’s Mustang Development Area of the DJ Basin in Colorado. The five sites produce a total of approximately 80 million cubic feet of natural gas per day. Project Canary's TrustWell™ program accounts for operational impacts on water, air, land, and community.

“The results of our independent assessment and certification of Chevron’s operations in the Permian and DJ basins demonstrate strong performance across its operating assets, positioning Chevron in the fast-emerging markets for differentiated gas,” said Chris Romer, CEO and co-founder, Project Canary. “Buyers of RSG certified by Project Canary can have confidence that each producing well has been reviewed and verified for aspects of Chevron’s environmental and social performance.”

In 2020, Chevron’s U.S. onshore production methane intensity was 85% lower than the U.S. industry average. The company continues to design, construct, and operate facilities with strategies to limit fugitive emissions. For example, it has reduced fugitive methane and volatile organic compound emissions in U.S. onshore operations through leak detection and repair, low-/no-emissions pneumatic devices, and centralized production facilities in addition to utilizing continuous monitoring. The company is also expanding its methane detection capabilities to identify the best opportunities to further lower emissions and is on track to reduce methane emissions intensity by more than 50% from 2016 levels by 2028.

About Chevron
Chevron is one of the world’s leading integrated energy companies. We believe affordable, reliable and ever-cleaner energy is essential to achieving a more prosperous and sustainable world. Chevron produces crude oil and natural gas; manufactures transportation fuels, lubricants, petrochemicals and additives; and develops technologies that enhance our business and the industry. We are focused on lowering the carbon intensity in our operations and seeking to grow lower carbon businesses along with our traditional business lines. More information about Chevron is available at www.chevron.com.

About Project Canary
Project Canary is a SaaS-based data analytics company focused on accurate corporate climate ESG data for emission-intensive industrial companies. We are the leaders in holistic environmental assessments (air, water, land, and community). Project Canary scores responsible operations, delivering independent emission profiles via high-fidelity continuous monitoring technology to provide actionable environmental performance data. Our sensor portfolio includes high-fidelity spectroscopy-based methane detection and emissions quantification for the oil and gas sectors, plus Aeris Technologies’ laser-based gas analyzers covering other emissions, including ethane, nitrous oxide, formaldehyde, ethylene oxide, benzene, and more. Formed as a Public Benefit Corporation, Project Canary’s Denver-based team of scientists, engineers, and seasoned industry operators identify and quantify areas to reduce emissions. www.projectcanary.com

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Chevron Corporation (NYSE: CVX) announced today it has sanctioned the Ballymore project in the deepwater U.S. Gulf of Mexico. The project, with a design capacity of 75,000 barrels of crude oil per day, will be developed as a three-mile subsea tieback to the existing Chevron-operated Blind Faith platform.

Chevron logo 2020“Chevron’s U.S. Gulf of Mexico production is some of the lowest carbon intensity production in our portfolio at around 6 kg CO2 equivalent per barrel of oil equivalent and is a fraction of the global industry average,” said Steve Green, president of Chevron North America Exploration and Production. “Once complete, Ballymore is expected to add a reliable supply of U.S.-produced energy to help meet global demand. The project is designed to lower development costs by using a subsea tieback approach, standardized equipment and repeatable engineering solutions – leveraging existing operated infrastructure.”

Ballymore will be Chevron’s first development in the Norphlet trend of the U.S. gulf. The project will be in the Mississippi Canyon area in around 6,600 feet (2,000 m) of water, about 160 miles (260 km) southeast of New Orleans. Potentially recoverable oil-equivalent resources for Ballymore are estimated at more than 150 million barrels.

The project, which involves three production wells tied back via one flowline to the nearby Blind Faith facility, will require an investment of approximately $1.6 billion. Oil and natural gas production will be transported via existing infrastructure. First oil is expected in 2025.

Chevron subsidiary Chevron U.S.A. Inc. is the operator of the Ballymore project with a 60 percent working interest. Co-owner TotalEnergies E&P USA, Inc. has a 40 percent interest.

About Chevron

Chevron is one of the world’s leading integrated energy companies. We believe affordable, reliable and ever-cleaner energy is essential to achieving a more prosperous and sustainable world. Chevron produces crude oil and natural gas; manufactures transportation fuels, lubricants, petrochemicals and additives; and develops technologies that enhance our business and the industry. We are focused on lowering the carbon intensity in our operations and seeking to grow lower carbon businesses along with our traditional business lines. More information about Chevron is available at www.chevron.com.

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Chevron U.S.A., Inc. (“Chevron”), through its Chevron New Energies division, Talos Energy Inc. (NYSE: TALO) (“Talos”), through its Talos Low Carbon Solutions division, and Carbonvert, Inc. (“Carbonvert”) announced today a memorandum of understanding (“MOU”) for an expanded joint venture to develop the Bayou Bend CCS offshore carbon capture and sequestration hub currently held by Talos and Carbonvert.

In 2021, a joint venture between Talos and Carbonvert (now known as Bayou Bend CCS) was the winning bidder for the Texas General Land Office’s (“GLO”) Jefferson County, Texas, carbon storage lease, located in state waters offshore Beaumont and Port Arthur, Texas. The Bayou Bend CCS project site encompasses over 40,000 gross acres and, based on Talos and Carbonvert’s preliminary estimates, could potentially sequester 225 to 275 million metric tons of carbon dioxide (CO2) from industrial sources in the area. The Bayou Bend CCS lease is the first and only offshore lease in the U.S. dedicated to CO2 sequestration.

Chevron LogoUnder the terms of the MOU, Talos and Carbonvert would contribute the Bayou Bend CCS lease to an expanded joint venture including Chevron in exchange for consideration of cash at closing and capital cost carry through project FID. Upon closing of the joint venture, equity interests in the joint venture would be 25 percent Talos, 25 percent Carbonvert and 50 percent Chevron, and Talos would remain the operator.

“Since our establishment of Chevron New Energies, we have been consistent in our communication that partnership will be required to grow successful lower carbon businesses. This venture is an example of the potential that partnering can have in moving large-scale lower carbon projects forward,” said Chris Powers, vice president of Carbon Capture, Utilization, and Storage (CCUS) for Chevron New Energies. “Talos and Carbonvert have worked to rapidly advance this project, and as a priority project for Chevron in a key industrial area, we are excited to contribute our experience and capability to develop the leading offshore carbon sequestration hub for the region.”

“Chevron brings significant expertise and experience to this project, and we are excited about what this partnership can deliver,” said Timothy S. Duncan, president and CEO of Talos. “We share a collective interest and commitment to developing low carbon solutions, and the success of these solutions will depend greatly on collaborative partnerships throughout the value chain. We believe the addition of Chevron greatly enhances the execution of this hub-scale project and we hope this sends a clear signal to industrial partners in the Beaumont and Port Arthur region that we are focused on making Bayou Bend the premier CCS project in southeast Texas.”

“This project is a catalyst that enables dramatic regional carbon emissions reduction to the benefit of local industry, the global community, and future generations,” said Alex Tiller, president and CEO of Carbonvert. “We look forward to the opportunity to partner with Chevron on such a monumental project supporting decarbonization and partnering with customers on their paths to net zero.”

The creation of the proposed joint venture is subject to the negotiation of definitive agreements with customary closing conditions, including regulatory approval.

About Chevron

Chevron is one of the world’s leading integrated energy companies. We believe affordable, reliable and ever-cleaner energy is essential to achieving a more prosperous and sustainable world. Chevron produces crude oil and natural gas; manufactures transportation fuels, lubricants, petrochemicals and additives; and develops technologies that enhance our business and the industry. We are focused on lowering the carbon intensity in our operations and seeking to grow lower carbon businesses along with our traditional business lines. More information about Chevron is available at www.chevron.com.

About Talos Energy

Talos Energy (NYSE: TALO) is a technically driven independent exploration and production company focused on safely and efficiently maximizing long-term value through its operations, currently in the United States and offshore Mexico, both upstream through oil and gas exploration and production and downstream through the development of future carbon capture and storage opportunities. As one of the Gulf of Mexico's largest public independent producers, we leverage decades of technical and offshore operational expertise towards the acquisition, exploration and development of assets in key geological trends that are present in many offshore basins around the world. With a focus on environmental stewardship, we are also utilizing our expertise to explore opportunities to reduce industrial emissions through our carbon capture and sequestration initiatives along the U.S. Gulf Coast and Gulf of Mexico. For more information, visit www.talosenergy.com.

About Carbonvert

Carbonvert Inc. is a carbon capture and storage project development and finance company that simplifies decarbonization for industrial clients. Carbonvert was established in late 2020 by Alex Tiller and Jan Sherman, veterans of the renewable and conventional energy sectors to manage the financial and technical complexities of CCS project development. Our executives have decades of experience developing projects, financing tax advantaged projects, trading carbon offsets, and structuring over $4 billion in infrastructure investments, including equity, tax equity, and debt for large assets. Carbonvert’s senior team has extensive experience with large-scale CO2 projects and have designed, secured environmental and CO2 storage permits, and completed and operated large-scale carbon capture, transportation, and storage projects notably Petra Nova CCS in Thompsons, Texas, Quest CCS in Alberta, Canada, and In Salah in Algeria. For more information, visit www.carbonvert.com.

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Chevron Corporation (NYSE: CVX) and Renewable Energy Group, Inc. (NASDAQ: REGI) (“REG”) announced today a definitive agreement under which Chevron will acquire the outstanding shares of REG in an all-cash transaction valued at $3.15 billion, or $61.50 per share.

The acquisition combines REG’s growing renewable fuels production and leading feedstock capabilities with Chevron’s large manufacturing, distribution and commercial marketing position.

Chevron Logo“REG was a founder of the renewable fuels industry and has been a leading innovator ever since,” said Chevron Chairman and CEO Mike Wirth. “Together, we can grow more quickly and efficiently than either could on its own.”

The transaction is expected to accelerate progress toward Chevron’s goal to grow renewable fuels production capacity to 100,000 barrels per day by 2030 and brings additional feedstock supplies and pre-treatment facilities. After closing of the acquisition, Chevron’s renewable fuels business, Renewable Fuels - REG, will be headquartered in Ames, Iowa. In addition, CJ Warner is expected to join Chevron’s Board of Directors.

“This transaction delivers premium cash value to shareholders and will give us additional resources as we aim to accelerate growth and strengthen our collective ability to deliver the sustainable fuels our customers and the world need,” said CJ Warner, REG president & CEO. “Our employees’ hard work and dedication have built a fantastic renewable fuels company and made this transaction possible. We look forward to joining Chevron’s team.”

The transaction is expected to be accretive to Chevron earnings in the first year after closing and accretive to free cash flow after start-up of REG’s Geismar expansion.

Transaction Details

The acquisition consideration is 100 percent cash. Total enterprise value of $2.75 billion includes a net cash position around $400 million greater than debt.

The transaction has been approved by the Boards of Directors of both companies and is expected to close in the second half of 2022. The acquisition is subject to REG shareholder approval. It is also subject to regulatory approvals and other customary closing conditions.

The transaction price represents a premium of around 57% on a 30-day average based on closing stock prices on February 25, 2022.

Advisors

Goldman Sachs & Co. LLC is acting as financial advisor to Chevron. Paul, Weiss, Rifkind, Wharton & Garrison LLP is acting as legal advisor to Chevron. Guggenheim Securities, LLC is acting as financial advisor and Latham & Watkins LLP is acting as legal advisor to REG.

About Chevron

Chevron is one of the world’s leading integrated energy companies. We believe affordable, reliable and ever-cleaner energy is essential to achieving a more prosperous and sustainable world. Chevron produces crude oil and natural gas; manufactures transportation fuels, lubricants, petrochemicals and additives; and develops technologies that enhance our business and the industry. We are focused on lowering the carbon intensity in our operations and seeking to grow lower carbon businesses along with our traditional business lines. More information about Chevron is available at www.chevron.com.

About Renewable Energy Group

Renewable Energy Group is leading the energy and transportation industries’ transition to sustainability by converting renewable resources into high-quality, sustainable fuels. REG is an international producer of sustainable fuels that significantly lower greenhouse gas emissions to immediately reduce carbon impact. REG utilizes a global integrated procurement, distribution, and logistics network to operate 11 biorefineries in the U.S. and Europe. In 2020, REG produced 519 million gallons, or 1.7 million metric tons, of cleaner fuel delivering 4.2 million metric tons of carbon reduction. REG is meeting the growing global demand for lower-carbon fuels and leading the way to a more sustainable future.

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Chevron U.S.A. Inc., a subsidiary of Chevron Corporation (NYSE: CVX), announced it has made a new investment in Carbon Clean, a global leader in cost-effective industrial carbon capture.

The size and cost of installing carbon capture technology has been a barrier to adoption. Carbon Clean’s technology is designed to reduce the costs and physical footprint required for carbon capture compared with many existing approaches. Carbon Clean’s technology and fully modular construction also aims to reduce site disruption and facilitate faster permitting.

Chevron Logo“We look forward to partnering with Carbon Clean to help advance Chevron’s pursuit of lower carbon solutions,” said Chris Powers, vice president of Carbon Capture, Utilization, and Storage (CCUS) with Chevron New Energies (CNE). “Chevron has a long history of supporting innovation. We strive to apply our internal capabilities and longstanding partnership approach toward developing and commercializing breakthrough technologies, including those that enable lower carbon solutions in the marketplace.”

Chevron Technology Ventures made an initial investment in Carbon Clean in 2020. In 2021, Chevron launched CNE to accelerate lower carbon business opportunities in CCUS, hydrogen, and offsets and emerging energies, as well as support Chevron’s ongoing growth in biofuels.

“Chevron’s investment demonstrates interest in our technology, business strategy and rapidly expanding order book. We are seeking to deliver a revolution in carbon capture driven by our modular technology and are thrilled that Chevron shares our vision for the sector,” said Aniruddha Sharma, Co-founder and CEO of Carbon Clean. “We are working to remove the biggest barriers to the adoption of widespread industrial carbon capture. It is vital that we decarbonise hard-to-abate sectors while developing new low-carbon technologies. This latest investment and our work with partners, such as Chevron, will provide us with the opportunity to deliver exponential growth in carbon capture and meet ever rising demand.”

As part of the new investment, Chevron and Carbon Clean are seeking to develop a carbon capture pilot for Carbon Clean’s CycloneCC technology on a gas turbine in San Joaquin Valley, California. Carbon capture will play a crucial role in reducing emissions in hard-to-abate energy intensive industries such as refining, cement, and steel. Chevron is targeting 25 million tonnes of CO₂ per year in equity storage by the end of this decade, with a focus on developing regional hubs that leverage its existing and emerging partnerships with customers, governments, and industry.

About Chevron

Chevron is one of the world’s leading integrated energy companies. We believe affordable, reliable and ever-cleaner energy is essential to achieving a more prosperous and sustainable world. Chevron produces crude oil and natural gas; manufactures transportation fuels, lubricants, petrochemicals and additives; and develops technologies that enhance our business and the industry. We are focused on lowering the carbon intensity in our operations and seeking to grow lower carbon businesses along with our traditional business lines. More information about Chevron is available at www.chevron.com.

About Carbon Clean

Carbon Clean is a global leader in carbon capture solutions for hard-to-abate industries such as cement, steel, refineries and energy from waste. The company’s patented technology significantly reduces the costs of carbon capture when compared to existing solutions.

The company is leading innovation in the CCUS market and has developed a fully modular technology – CycloneCC – that is set to disrupt the sector. The company’s solutions will help deliver the necessary scaling up of carbon capture to achieve global net zero targets. The technology has been proven at scale in over 44 sites around the world, including plants in the UK, U.S., Japan, Germany, India, Norway and the Netherlands. It has delivered the world’s largest industrial-scale carbon capture and utilisation plant for Tuticorin Alkali Chemicals & Fertilizers Ltd, India.

The UK-based company has received funding and grant support from the British and U.S. governments and has established partnerships with industry leaders including CEMEX and Veolia. It is also an investor in the Swedish eMethanol shipping fuel company, Liquid Wind. Carbon Clean has been a Global Cleantech 100 company three times, most recently in 2022, features in the inaugural PwC Net Zero Future50 and was chosen as one of CEMEX Ventures Top50 ConTech Startups. For further information: www.carbonclean.com.

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Chevron U.S.A. Inc. (Chevron), a subsidiary of Chevron Corporation (NYSE: CVX), and Iwatani Corporation of America (ICA), a wholly owned subsidiary company of Iwatani Corporation (TYO: 8088), have just announced an agreement to co-develop and construct 30 hydrogen fueling sites in California by 2026.

As part of the agreement, Chevron plans to fund construction of the sites, which are expected to be located at Chevron-branded retail locations across the state. The stations will initially fuel light-duty vehicles while retaining the flexibility to service heavy-duty vehicles over the long term. Iwatani will operate and maintain the hydrogen fueling sites and provide hydrogen supply and transportation logistics services. Chevron plans to supply a portion of the fueling sites with excess hydrogen production capacity at its Richmond Refinery and future hydrogen production from pilot projects in Northern California.

Chevron logo 2020“Chevron believes that hydrogen has the potential to assist in lowering the carbon emissions of the transportation sector and other hard-to-decarbonize industries,” said Andy Walz, president of Americas Fuels & Lubricants for Chevron. “We are excited to work with Iwatani to advance the entire hydrogen transportation value chain from production to consumer purchase in order to help our customers lower their lifecycle transportation carbon intensities.”

“This extensive collaboration between Iwatani and Chevron demonstrates our shared vision and commitment to support the decarbonization of transportation,” said Joseph S. Cappello, chairman and CEO of Iwatani Corporation of America. “Together, Chevron and Iwatani will establish one of the most robust, vertically integrated supply and infrastructure ecosystems in California and is a model that can be replicated to other markets.”

About Chevron

Chevron is one of the world’s leading integrated energy companies. We believe affordable, reliable and ever-cleaner energy is essential to achieving a more prosperous and sustainable world. Chevron produces crude oil and natural gas; manufactures transportation fuels, lubricants, petrochemicals and additives; and develops technologies that enhance our business and the industry. We are focused on lowering the carbon intensity in our operations and seeking to grow lower carbon businesses along with our traditional business lines. More information about Chevron is available at www.chevron.com.

About Iwatani

Since 1941, Iwatani has regarded hydrogen as the ultimate clean energy source and has consistently engaged in initiatives to encourage its widespread use. Under the corporate slogan “A world where all enjoy true comfort – this is Iwatani’s desire,” Iwatani strives to solve environmental concerns with the aim of achieving a carbon- free society through the use of hydrogen.

Iwatani is Japan’s only fully integrated supplier of hydrogen and presently supplies its extensive base of light and heavy-duty hydrogen refueling stations and industrial customers via five liquid and ten gaseous hydrogen production plants throughout the country. Leveraging its parent company’s expertise, Iwatani Corporation of America (ICA) has embarked on an ambitious growth program to establish a vertically integrated hydrogen business in the US, which includes hydrogen supply, distribution and logistics services as well as operations & maintenance services to hydrogen refueling station owners. ICA also owns and operates a growing network of Iwatani-branded hydrogen refueling stations in California.

Iwatani Corporation of America has headquarters offices in Houston, Texas and Santa Clara, California.

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Partnership enhances Chevron’s approach to advancing a lower carbon future

Chevron Corporation (NYSE: CVX) has just announced a pilot project with Project Canary to independently certify operational and environmental performance in the company’s North American upstream region.

“Chevron is focused on delivering reliable, lower carbon energy to a growing world. We aim to achieve this through innovation, both in our application of technology, and in our approach to how we design and run our operations,” said Steve Green, president, Chevron North America Exploration and Production. “We’re pleased to work with Project Canary to pilot an independent well-by-well certification at five sites, enhancing our ability to demonstrate transparency in how we are lowering methane emissions in our operations.”

Chevron LogoProject Canary, a mission-driven B-Corp, will use its comprehensive TrustWell™ Certification program to review and analyze aspects of the environmental and social performance of individual wells and facilities in the Permian Basin of Texas and the DJ Basin of Colorado. Chevron will also deploy Canary X continuous, pad-level methane emissions monitoring units at select locations.

More than 600 data points within 24 operational categories are included in a Project Canary TrustWell™ analysis. Operators who earn top rankings are determined by Project Canary to utilize the highest standards and practices across their operations.

The companies expect the TrustWell™ certification process to begin in the first half of 2022 and, based on ratings earned during the review process, anticipate being ready to deliver certified Responsibly Sourced Gas (RSG) to market by mid-2022.

“Chevron is a leader in advancing solutions that deliver reliable energy and address U.S. methane emissions. We’re grateful for the opportunity to leverage our ESG technologies to help further advance their business priorities,” Chris Romer, co-founder and CEO of Project Canary, said. “With our rigorous third-party review, measured performance and continuous action, buyers can have confidence that Chevron is delivering responsible lower carbon energy.”

In 2020, Chevron’s U.S. onshore production methane intensity was 85% lower than the U.S. industry average. The company continues to design, construct, and operate facilities with an eye toward limiting fugitive emissions. For example, it has reduced fugitive methane and volatile organic compound emissions in U.S. onshore operations through leak detection and repair, low-/no-emissions pneumatic devices, and centralized production facilities. The company is also expanding its methane detection capabilities to identify the best opportunities to further lower emissions.

About Chevron

Chevron is one of the world’s leading integrated energy companies. We believe affordable, reliable and ever-cleaner energy is essential to achieving a more prosperous and sustainable world. Chevron produces crude oil and natural gas; manufactures transportation fuels, lubricants, petrochemicals and additives; and develops technologies that enhance our business and the industry. We are focused on lowering the carbon intensity in our operations and seeking to grow lower carbon businesses along with our traditional business lines. More information about Chevron is available at www.chevron.com.

About Project Canary

Project Canary delivers trusted and reliable, independent Energy ESG data. They are the leaders in the certification of responsible operations throughout the energy value chain and provide measurement-based emission profiles via continuous monitoring technology. Their work helps identify the most responsible energy supply chain operators. Analyzing more than 600 operational data points, TrustWell by Project Canary is the most comprehensive well-pad and mid-stream certification program available. Project Canary is the recognized badge of high standards. Formed as a Public Benefit Corporation, Project Canary’s team of scientists, engineers, and seasoned industry operators have earned recognition for their uncompromising standards, including being named “Best for the World 2021" B Corp. Visit www.projectcanary.com to learn more.

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Chevron U.S.A. Inc., a subsidiary of Chevron Corporation (NYSE: CVX), announced today the signing of definitive agreements to form a joint venture with Mercuria Energy Trading (Mercuria), one of the world’s largest integrated energy and commodities companies, to own and operate American Natural Gas LLC (ANG) and its network of 60 compressed natural gas (CNG) stations across the United States.

Chevron is building a large-scale, vertically integrated renewable natural gas business in the United States. Through its partnerships with Brightmark and California Bioenergy, Chevron is developing projects to produce renewable natural gas from dairy digesters across the country. The creation of this joint venture will allow Chevron to rapidly grow its renewable natural gas value chain, complementing its previously announced plan to open more than 30 Chevron-branded CNG stations by 2025.

Chevron logo 2020“Chevron is committed to producing a tenfold increase in renewable natural gas volumes by 2025 compared to 2020 as part of our higher returns, lower carbon strategy,” said Andy Walz, Chevron’s president of Americas Fuels & Lubricants. “This acquisition will advance our renewable natural gas business in support of customers who want to reduce their carbon footprint.”

“Mercuria is pleased to partner with Chevron and ANG founder Andrew West in growing ANG’s fueling network and continuing to provide a best-in-class decarbonization solution to the medium- and heavy-duty vehicle market,” said Chief Investment Officer Brian A. Falik. “Chevron’s excellent reputation of customer service, and their like-minded commitment to investment in the energy transition, make them the perfect partner to expand the ANG footprint.”

The transaction is subject to customary closing conditions.

About Chevron

Chevron is one of the world’s leading integrated energy companies. We believe affordable, reliable and ever-cleaner energy is essential to achieving a more prosperous and sustainable world. Chevron produces crude oil and natural gas; manufactures transportation fuels, lubricants, petrochemicals and additives; and develops technologies that enhance our business and the industry. To advance a lower-carbon future, we are focused on cost efficiently lowering our carbon intensity, increasing renewables and offsets in support of our business, and investing in low-carbon technologies that enable commercial solutions. More information about Chevron is available at www.chevron.com.

About Mercuria

Founded in 2004, Mercuria is one of the largest independent energy and commodity groups in the world. As an integrated group, Mercuria is present all along the commodity value chain with activities forming a balanced combination of trading flows, strategic assets and structuring solutions. With more than USD 100 billion in turnover, Mercuria has become one of the most active players in the energy and renewables markets. Over the next five years, the company will direct half of its investment towards the energy transition. For more information, visit www.mercuria.com.

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Chevron U.S.A. Inc., through its Chevron New Energies division, and a subsidiary of Enterprise Products Partners L.P. (NYSE: EPD) announced a framework to study and evaluate opportunities for carbon dioxide (CO2) capture, utilization, and storage (CCUS) from their respective business operations in the U.S. Midcontinent and Gulf Coast. The companies expect the initial phase of the study in which they will evaluate specific business opportunities to last about six months.

“This joint effort has the potential to advance our ongoing work to grow our lower carbon businesses with commercial scale using the industry expertise both companies bring to the project,” said Jeff Gustavson, president of Chevron New Energies. “International climate change scientists working with the United Nations have identified carbon capture as a critical technology needed to help the global energy system transition to a lower carbon future.”

Chevron logo 2020The companies have successfully worked together on prior business opportunities and believe they bring complementary capabilities to successfully pursue CCUS. Projects resulting from the evaluation would seek to combine Enterprise’s extensive midstream pipeline and storage network with Chevron’s sub-surface expertise to create opportunities to capture, aggregate, transport and sequester carbon dioxide in support of the evolving energy landscape.

“The joint study with Chevron is part of our growing focus on developing and utilizing new technologies and leveraging our transportation and storage network in order to better manage our own carbon footprint and provide customers with new midstream services to support a lower carbon economy,” said A.J. “Jim” Teague, co-chief executive officer of Enterprise’s general partner. “Our success in upgrading and repurposing existing assets will be important to the success of any initiative we move forward with.”

Chevron is one of the world’s leading integrated energy companies. We believe affordable, reliable and ever-cleaner energy is essential to achieving a more prosperous and sustainable world. Chevron produces crude oil and natural gas; manufactures transportation fuels, lubricants, petrochemicals and additives; and develops technologies that enhance our business and the industry. To advance a lower-carbon future, we are focused on cost efficiently lowering our carbon intensity, increasing renewables and offsets in support of our business, and investing in low-carbon technologies that enable commercial solutions. More information about Chevron is available at www.chevron.com.

Enterprise Products Partners L.P. is one of the largest publicly traded partnerships and a leading North American provider of midstream energy services to producers and consumers of natural gas, NGLs, crude oil, refined products and petrochemicals. Our services include: natural gas gathering, treating, processing, transportation and storage; NGL transportation, fractionation, storage and export and import terminals; crude oil gathering, transportation, storage and export and import terminals; petrochemical and refined products transportation, storage, export and import terminals and related services; and a marine transportation business that operates primarily on the United States inland and Intracoastal Waterway systems. The partnership’s assets include approximately 50,000 miles of pipelines; 260 million barrels of storage capacity for NGLs, crude oil, refined products and petrochemicals; and 14 Bcf of natural gas storage capacity. Please visit www.enterpriseproducts.com for more information.

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Monday, 02 August 2021 12:35

Eimear Bonner Appointed Chevron Vice President

Chevron Corporation has just announced the appointment of Eimear Bonner as vice president, reporting to Chairman and CEO Michael Wirth, effective August 2. Bonner will also continue as president, Chevron Technical Center, and chief technology officer, overseeing the application of technology, research and development, and Chevron’s digital strategy.

2014 09 04 201222 chevron“I welcome Eimear to Chevron’s executive leadership team,” Wirth said. “Eimear is an accomplished leader. Her perspective, earned through numerous assignments managing some of the company’s most significant assets, prepares her to serve our company and our stockholders well in this key role.”

Bonner, 47, served as general director of Chevron’s largest joint venture, Tengizchevroil (TCO), in Kazakhstan from 2018, an organization of approximately 5,000 direct employees and a total workforce exceeding 40,000. She was responsible for ensuring strong business performance, advancing TCO’s FGP/WPMP expansion project, managing relationships with stakeholders in the Kazakhstan government, partner companies and the communities, and leading TCO’s organization transformation.

She began her career as an offshore petroleum engineer in the United Kingdom, and over her 22-year career with Chevron, Bonner has held numerous leadership and engineering positions in the United Kingdom, Thailand, Kazakhstan and the United States, as well as general manager, Strategy, at the company’s headquarters. Bonner received her bachelor’s degree in chemical engineering from Queen’s University Belfast, and her master’s degrees in advanced chemical engineering and petroleum engineering from Imperial College London.

Chevron is one of the world’s leading integrated energy companies. We believe affordable, reliable and ever-cleaner energy is essential to achieving a more prosperous and sustainable world. Chevron produces crude oil and natural gas; manufactures transportation fuels, lubricants, petrochemicals and additives; and develops technologies that enhance our business and the industry. To advance a lower-carbon future, we are focused on cost efficiently lowering our carbon intensity, increasing renewables and offsets in support of our business, and investing in low-carbon technologies that enable commercial solutions. More information about Chevron is available at www.chevron.com.

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