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Chevron Corporation (NYSE: CVX) has completed its acquisition of full ownership of Beyond6, LLC, enhancing its nationwide network of compressed natural gas stations. The deal, finalized with Mercuria Energy Trading and Beyond6 founder Andrew West, underscores Chevron's commitment to expanding its presence in the alternative energy sector.
This acquisition positions Chevron to better serve the growing demand for cleaner energy solutions while aligning with its strategy of increasing lower carbon businesses.
Positive
Acquisition of full ownership of Beyond6, enhancing Chevron's alternative energy portfolio.
Strengthens Chevron's presence in the growing compressed natural gas market.
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None.
SAN RAMON, Calif. & HOUSTON--(BUSINESS WIRE)--
Chevron U.S.A. Inc., a subsidiary of Chevron Corporation (NYSE: CVX), today closed its previously announced acquisition of full ownership of Beyond6, LLC and its nationwide network of compressed natural gas stations from Mercuria Energy Trading and Beyond6 founder Andrew West.
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 growing lower carbon businesses along with our traditional business lines. 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.
What is the significance of Chevron's acquisition of Beyond6?
Chevron's acquisition of Beyond6 enhances its network of compressed natural gas stations, aligning with its strategy to expand into alternative energy markets.
When did Chevron complete the acquisition of Beyond6?
Chevron completed the acquisition of Beyond6 on the date mentioned in the press release.
How will the acquisition of Beyond6 impact Chevron's business?
The acquisition will strengthen Chevron's position in the compressed natural gas sector, catering to the rising demand for cleaner energy solutions.
Who were the parties involved in the acquisition of Beyond6?
Chevron acquired Beyond6 from Mercuria Energy Trading and founder Andrew West.
