Chevron focuses on renewable fuels, hydrogen and CCUS in emissions reduction strategy
Chevron outlines new climate strategy
Firm to invest in renewable fuels, hydrogen and CCUS to decarbonise its operations
US oil major Chevron has outlined a new emissions reductions strategy to cut 30mn t CO₂ from its operations by 2028 using renewable fuels, hydrogen and CCUS technologies. The firm’s strategy involves reducing the carbon intensity of its existing operations whilst simultaneously establishing a ‘new energies’ division that will develop technologies in those three sectors. This new division will initially focus on the US west coast and selected Asian markets. Chevron will commit $10bn towards achieving its target between now and 2028, up from $3bn committed previously. “Chevron intends to be a leader in advancing a lower carbon future,” said Michael Wirth, Chevron’s CEO. “Our planned actions ta
Also in this section
17 January 2025
Supply glut or supply deficit are both plausible outlooks, with tariffs and sanctions among the key risks that could swing the pendulum
17 January 2025
European Commission is on its way to meeting clean energy goals, but energy security concerns and higher costs may give it second thoughts
17 January 2025
The CEO of QatarEnergy has highlighted the potential impact a new EU directive could have on energy exports to the continent
16 January 2025
The government’s resource nationalism is aggravating the NOC’s debt position and could yet worsen if also tasked with the decarbonisation shift
