Chevron, Mercuria Finalize CNG Fueling Network Joint Venture

Rhea-AI Summary

Chevron Corporation (NYSE: CVX) announced the successful closure of its acquisition of an equity interest in American Natural Gas LLC, which includes a network of 60 compressed natural gas stations in the United States. This acquisition, previously announced, emphasizes Chevron's commitment to expanding its lower carbon business operations. American Natural Gas aims to support the transition to cleaner energy through its CNG fueling network.

Positive

• Expansion of lower carbon business through the acquisition of American Natural Gas LLC.
• Gain of a network of 60 compressed natural gas stations across the United States.

Negative

• None.

SAN RAMON, Calif. & SARATOGA SPRINGS, N.Y. & HOUSTON--(BUSINESS WIRE)-- Chevron U.S.A. Inc., a subsidiary of Chevron Corporation (NYSE: CVX), announced today that it closed its previously announced acquisition of an equity interest in American Natural Gas LLC and its network of 60 compressed natural gas stations across the United States from Mercuria Energy Trading.

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 lowering the carbon intensity in our operations and growing our lower carbon businesses. 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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Tyler Kruzich, Chevron

External Affairs

TKruzich@chevron.com

t. (925) 549-8686



Matthew Lauer, Mercuria

Communications

MLauer@Mercuria.com

t. (703) 463-1841

Source: Chevron Corporation