Chevron Corporation - CVX STOCK NEWS

Chevron Corporation (NYSE: CVX) has announced a significant increase in its planned capital investments, boosting total commitments to $10 billion through 2028. This investment aims to enhance growth in renewable fuels, hydrogen, and carbon capture technologies, with specific targets set for 2030. The company reaffirmed expectations of $25 billion in excess cash generation over the next five years, alongside a commitment to reduce greenhouse gas intensity by 35% from 2016 levels by 2028.

Chevron U.S.A. Inc. and Enterprise Products Partners L.P. have launched a joint framework to explore carbon capture, utilization, and storage (CCUS) opportunities in the U.S. Midcontinent and Gulf Coast regions. The initial six-month study aims to identify specific business opportunities by leveraging Enterprise's extensive midstream network alongside Chevron's sub-surface expertise. Both companies emphasize the importance of CCUS in achieving a lower carbon future, as indicated by international climate scientists. This partnership builds on their previous collaboration in energy services.

Chevron Corporation (NYSE: CVX) has signed definitive agreements to establish a joint venture with Mercuria Energy Trading to own and operate American Natural Gas LLC (ANG) and its network of 60 compressed natural gas (CNG) stations across the United States. This initiative is part of Chevron's strategy to build a renewable natural gas business aiming for a tenfold increase in volumes by 2025, complementing its plan to open over 30 Chevron-branded CNG stations by the same year. The partnership underscores Chevron's commitment to advancing renewable energy solutions.

Chevron Corporation (NYSE: CVX) and Gevo, Inc. (NASDAQ: GEVO) have signed a letter of intent to jointly invest in new facilities to produce sustainable aviation fuel from inedible corn. This collaboration aims to lower lifecycle carbon intensity in aviation fuels and will also generate proteins and corn oil. Gevo will utilize its proprietary technology while Chevron has the right to offtake approximately 150 million gallons of sustainable aviation fuel annually. The partnership is contingent on regulatory approvals and definitive agreements.

Chevron's New Energies division has agreed to acquire an equity interest in ACES Delta, a joint venture focused on green hydrogen production. Located in Delta, Utah, the Advanced Clean Energy Storage project aims to generate, store, and transport green hydrogen for various applications in the western U.S. The initiative will help reduce carbon emissions and expand hydrogen supply across Western states, leveraging Chevron's expertise in heavy-duty transportation and industry. The transaction is subject to negotiation and customary closing conditions.

Chevron Corporation (NYSE: CVX) and Caterpillar Inc. (NYSE: CAT) have announced a collaboration to develop hydrogen demonstration projects aimed at transforming transportation and stationary power applications. The initiative includes demonstrating a hydrogen-fueled locomotive and necessary fueling infrastructure across various U.S. locations. Chevron's commitment to hydrogen is part of its strategy to lower carbon emissions in heavy-duty sectors, while Caterpillar aims to provide customers with diverse fuel options for sustainability.

Chevron U.S.A. Inc. and Caterpillar Inc. have announced a collaboration to explore hydrogen applications in transportation and stationary power. The partnership aims to demonstrate hydrogen as a viable alternative fuel for line-haul rail and marine vessels and to develop hydrogen-fueled locomotives and related infrastructure. Work will commence immediately at various locations across the U.S. Chevron's initiative focuses on advancing hydrogen technology for heavy-duty transportation, while Caterpillar emphasizes its commitment to sustainability through diverse fuel options.

Chevron, Delta, and Google Cloud have entered a memorandum of understanding (MOU) to analyze emissions data from a sustainable aviation fuel (SAF) pilot program. Chevron will produce a SAF test batch at El Segundo Refinery and sell it to Delta at Los Angeles International Airport (LAX). This partnership aims to create transparency in emissions reporting and support Delta's goal of replacing 10% of its jet fuel with SAF by 2030. Google Cloud will develop a data framework to facilitate emissions data analysis.

Chevron Corporation (NYSE: CVX) has committed $3 million to support Hurricane Ida relief efforts. This funding includes $500,000 each for the American Red Cross, Catholic Charities, and Team Rubicon, with the remaining $1.5 million going to local organizations. Chevron aims to assist Gulf Coast communities affected by the hurricane, emphasizing that recovery work is paramount. Employees will also have matching donation opportunities to further aid recovery efforts, ensuring that Chevron stands by its local communities during this challenging time.