Chevron looks to reduce CCS costs

The US oil major is investing in capture-technology startups and testing in San Joaquin Valley

US oil major Chevron is looking to invest in carbon capture and storage (CCS) technologies to bring down the cost of the technology, the company’s vice-president of CCUS, Chris Powers, told Gulf Energy Information’s Carbon Intel conference last week. The US’ recently passed Inflation Reduction Act (IRA) contained incentives for CCS technologies, including raising the amount of federal income tax credit projects can apply for, making it easier for projects to qualify for these credits and extending the construction deadline to do so from 2026 to 2033. “It is great to see some progress with the IRA. There are some key steps in there that enable new technologies to move forward,” Powers told th