Welcome to our dedicated page for Chevron Corporation news (Ticker: CVX), a resource for investors and traders seeking the latest updates and insights on Chevron Corporation stock.
Chevron Corporation (NYSE: CVX) is a renowned American multinational energy corporation headquartered in San Ramon, California. As the second-largest direct descendant of Standard Oil, Chevron is a significant player in the global oil and gas industry, operating in over 180 countries. The company's core business includes the exploration, production, and refining of oil and natural gas. Chevron's production activities span North America, South America, Europe, Africa, Asia, and Australia, with a daily output of 3.1 million barrels of oil equivalent, encompassing 7.7 million cubic feet of natural gas and 1.8 million barrels of liquids.
Chevron's refining operations are primarily based in the United States and Asia, boasting a total refining capacity of 1.8 million barrels of oil per day. As of the end of 2023, the company reported proven reserves of 11.1 billion barrels of oil equivalent, including 6.0 billion barrels of liquids and 30.4 trillion cubic feet of natural gas.
In addition to its traditional oil and gas ventures, Chevron is actively pursuing initiatives in renewable energy. A notable example is its partnership with Brightmark Fund Holdings LLC, forming Brightmark RNG Holdings LLC. This venture focuses on producing renewable natural gas (RNG) from dairy manure using anaerobic digestion technology. The latest project under this initiative is the Eloy Renewable Natural Gas center in Eloy, Arizona, which aims to capture methane from local dairy operations, converting it into RNG, fertilizer, and water. This circular approach not only reduces greenhouse gas emissions but also enhances agricultural and energy systems.
The project has significant environmental and economic benefits, including reducing carbon-dioxide equivalent emissions by over 900,000 tons through anaerobic digestion. It also supports the local economy by creating jobs and promoting sustainable agricultural practices.
Chevron continues to innovate and adapt in the rapidly evolving energy sector. The company is committed to lowering the carbon intensity of its operations and expanding into new, lower-carbon businesses such as hydrogen, carbon capture, and other emerging technologies. For more detailed information about Chevron's operations and initiatives, visit their official website at www.chevron.com.
Chevron Corporation (NYSE: CVX) has published its annual methane report, showcasing a significant reduction of over 50% in methane intensity since 2016. The report emphasizes Chevron's commitment to transparency and sustainability, highlighting that its U.S. upstream methane intensity is 85% lower than the national average as of 2020. Chevron aims to be a global leader in methane emissions management through advanced detection technologies and improved facility designs. Additionally, a stockholder proposal for reliable methane emissions disclosure was endorsed by the board and passed in 2022.
Air Liquide, Chevron (CVX), LyondellBasell (LYB), and Uniper have announced a collaborative study to evaluate the development of a hydrogen and ammonia production facility along the U.S. Gulf Coast. This project aims to support decarbonization efforts and increase clean ammonia exports. The consortium intends to utilize each participant's expertise in various technologies, focusing on producing hydrogen through natural gas with carbon capture and renewable hydrogen via electrolysis. The development could leverage existing Gulf Coast infrastructure for lower carbon energy supplies.
Chevron and California Bioenergy LLC announced a joint investment in CalBioGas Hilmar LLC to produce renewable natural gas (RNG) from dairy biomethane in California. Chevron's initial funding will support infrastructure development for this project in Merced County, with plans for seven digesters and a central upgrading facility. The project aims to help California meet its emission reduction targets while providing new revenue for local dairy farmers. Chevron is committed to producing 40,000 MMBTU/D of RNG by 2030 as part of its lower carbon objectives.
Chevron Corporation (NYSE: CVX) will conduct its quarterly earnings conference call on October 28, 2022, at 11:00 a.m. ET. Key speakers include Mike Wirth, CEO; Pierre Breber, CFO; and Roderick Green, Investor Relations GM. The call will be accessible via dial-in at 877-502-9276, Conference ID: 9382025, or through a live webcast on Chevron's website. The replay will also be available under the Investors section.
Chevron Corporation (NYSE: CVX) has successfully completed its first shipment of offset-paired liquefied natural gas (LNG) from the Gorgon Project in Western Australia. This cargo emphasizes Chevron's commitment to achieving net-zero emissions through fully offset greenhouse gas emissions using certified nature-based and energy efficiency offsets in Cambodia, Indonesia, and Nepal. John Kuehn, President of Chevron Supply and Trading, highlighted this milestone as part of Chevron's strategy for lower carbon energy solutions and building stronger relationships, particularly with CPC Corporation in Taiwan.
FreeWire Technologies has launched a program to supply battery-integrated electric vehicle (EV) charging equipment at Chevron-branded stations. This initiative includes both company-owned and independently operated locations. The Boost Charger technology offers 200 miles of range in just 15 minutes, enhancing customer offerings and relationships with EV drivers. Chevron plans to invest billions in lower-carbon projects over the next decade, aiming to expand its energy portfolio. This collaboration marks a significant step in Chevron's strategy to integrate EV solutions into its retail network.
Chevron has entered a Joint Collaboration Agreement with Mitsui Oil Exploration Co. to explore advanced geothermal power generation in Japan. This collaboration aims to assess the technical and commercial feasibility of Advanced Closed Loop (ACL) technology, which could unlock a broader range of geothermal resources beyond conventional methods. Executives from both companies emphasize their commitment to delivering lower carbon energy solutions and exploiting Japan's geothermal potential while expanding globally.
Chevron has joined forces with Air Liquide, Keppel Infrastructure, and PetroChina to establish a consortium for advancing carbon capture, utilization, and sequestration (CCUS) solutions in Singapore. The initiative aims to develop integrated infrastructure to capture CO2 from industrial emitters and store it securely. By leveraging collaborative technology, the consortium seeks to support the energy and chemicals sector while contributing to Singapore's net-zero carbon objective by 2050. Chevron emphasizes its commitment to lower carbon futures through strategic partnerships and innovative technology.
Chevron Corporation (NYSE: CVX) has secured greenhouse gas assessment permits in three offshore areas in Australia through its affiliate, Chevron Australia Pty Ltd. These blocks span over 31,500 km2, exceeding the size of Belgium and located in the Carnarvon and Bonaparte Basins. This initiative supports Chevron's commitment to advancing carbon capture and storage (CCUS) in alignment with global net-zero goals. The company aims to enhance its operational efficiency while contributing positively to environmental efforts in the region.
Chevron Corporation (NYSE: CVX) announced the launch of the Chevron Exchange Q&A Series, starting with a virtual fireside chat featuring CFO Pierre Breber on September 15, 2022. This initiative, in partnership with Say Technologies, aims to enhance investor engagement by allowing verified retail shareholders to submit and upvote questions for management. The event will address key topics concerning Chevron's strategy, business, and financial performance. The Q&A platform will remain open until 48 hours prior to the event.
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