Displaying items by tag: Chevron

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.

“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.

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 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.

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.”

Project 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.

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 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.

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.”

The 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.

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.

“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.

Chevron Corporation (NYSE:CVX) has just announced that Joseph C. (Joe) Geagea, executive vice president, Technology, Projects and Services, will retire from the company after 40 years of outstanding service. Geagea will continue as an executive vice president and serve as senior advisor to chairman and CEO Michael Wirth until his retirement on or about March 1, 2022.

“I’d like to thank Joe for four decades of significant contributions to Chevron,” Wirth said. “Joe’s career has spanned the globe as well as Chevron’s many businesses. He has left an enduring mark on the company, and we are better for it.”

Geagea joined Chevron in 1982 as a design engineer. Prior to his current role, Geagea was senior vice president of Technology, Projects and Services. He served as a corporate vice president and president of Chevron Gas and Midstream, responsible for commercializing Chevron’s natural gas resources and overseeing the company’s shipping, pipeline and power operations as well as supply and trading operations. Previous positions include: managing director, Chevron Asia South Ltd., responsible for Chevron’s upstream activities in Bangladesh, Cambodia, China, Myanmar, Thailand and Vietnam; vice president, Upstream Capability, responsible for improving the delivery of support services to Chevron’s global upstream operations; vice president, Chevron International Exploration and Production Company; president, Fuel and Marine Marketing, as well as president, downstream operations in East Africa, the Middle East and Pakistan.

Outside of Chevron, Geagea serves on the board of directors of the National Action Council for Minorities in Engineering. He is a member of the American Society of Civil Engineers and the Society of Petroleum Engineers. He previously served on the board of trustees of the San Francisco Ballet Association. Geagea earned a bachelor’s degree and a master’s degree in civil engineering from the University of Illinois in 1981 and 1982, respectively.

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.

Project ensures long-term gas supply from Gorgon to customers in Australia and Asia

Chevron Corporation (NYSE: CVX) has just announced that its wholly owned subsidiary Chevron Australia Pty Ltd. (Chevron Australia) as operator and the Gorgon joint venture participants will proceed with the approximately $4 billion (AU$6 billion) Jansz-Io Compression (J-IC) project.

Nigel Hearne, Chevron Eurasia Pacific Exploration and Production president, said J-IC represents Chevron’s most significant capital investment in Australia since the sanctioning of the Gorgon Stage 2 project in 2018.

“Using world-leading subsea compression technology, J-IC is positioned to maintain gas supply from the Jansz-Io field to the three existing LNG trains and domestic gas plant on Barrow Island,” Hearne said.

“This will maintain an important source of clean-burning natural gas to customers that will enable energy transitions in countries across the Asia Pacific region.”

Jansz-Io Compression project - Field Control Station and Subsea Compression Station. (Photo: Business Wire)

A modification of the existing Gorgon development, J-IC will involve the construction and installation of a 27,000-tonne normally unattended floating Field Control Station (FCS), approximately 6,500 tonnes of subsea compression infrastructure and a 135km submarine power cable linked to Barrow Island.

Construction and installation activities are estimated to take approximately five years to complete.

J-IC follows the Gorgon Stage 2 project, which is nearing completion of the installation phase, to supply gas to the Gorgon plant from four new Jansz-Io and seven new Gorgon wells.

The Chevron-operated Gorgon Project is a joint venture between the Australian subsidiaries of Chevron (47.333 percent), ExxonMobil (25 percent), Shell (25 percent), Osaka Gas (1.25 percent), Tokyo Gas (1 percent) and JERA (0.417 percent).

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.

Source: Chevron Corporation

Chevron Corporation has just announced a seven-year partnership with Microsoft Corp. establishing the company as Chevron’s primary cloud provider, accelerating the application of advanced technologies including analytics and the Internet of Things (IoT) to drive performance and improve efficiencies.

“We embrace every opportunity that streamlines our workflows, gives us insights into more efficient operations and helps us compete,” said Joe Geagea, Chevron’s executive vice president of Technology, Projects and Services. “We already have a head start in digitizing our oilfields, but we want to accelerate our deployment of new technologies that position us to increase our revenues, lower our costs, and improve the safety and reliability of our operations.”

The Microsoft strategic partnership is part of Chevron’s overall digitization initiative, a multi-year effort to streamline information technology (IT) operations around a digital core connecting the company’s engineers and operations through nimble analytics and increased automation. Adoption of Microsoft’s Azure platform will allow Chevron’s IT workforce to evolve from supporting infrastructure to one that enables more advanced technologies, as well as optimize exploration, reservoir management, production operations, midstream logistics and marketing operations.

“Chevron has a long history of applying advanced technologies to develop the energy that improves lives and powers the world. We also understand scale, and the cloud at hyper-scale is something we intend to leverage for agility and efficiency. Through this strategic partnership, we believe Chevron will have a competitive advantage,” said Bill Braun, Chief Information Officer. “The volumes and velocity of real time data we obtain from the reservoir through refineries to the retail pump grows at a dramatic pace every year. Our Microsoft relationship will advance our high-performance computing, IoT, and help capitalize on innovation in data science and machine learning.”

The strategic partnership also extends to broader technical collaboration that will allow the two companies to focus on joint innovation from a technology and business process perspective. This will include identifying areas to influence Microsoft’s roadmap of future products and where Microsoft solutions can help solve Chevron’s business challenges.

“With Chevron and Microsoft, intelligent energy meets intelligent cloud,” said Jason Zander, corporate vice president of Microsoft Azure. “Our global cloud infrastructure – which has more regions around the world than any other cloud provider – will enable Chevron to leverage our capabilities across areas like high-performance computing and Internet of Things to become a truly digital business.”

Chevron Corporation is one of the world's leading integrated energy companies. Through its subsidiaries that conduct business worldwide, the company is involved in virtually every facet of the energy industry. Chevron explores for, produces and transports crude oil and natural gas; refines, markets and distributes transportation fuels and lubricants; manufactures and sells petrochemicals and additives; generates power; and develops and deploys technologies that enhance business value in every aspect of the company's operations. Chevron is based in San Ramon, Calif. More information about Chevron is available at www.chevron.com