Business

Chevron targets $10bn in lower-carbon investments by 2028

Chevron Corp. plans to triple its total capital investment to $10 billion through 2028 to grow its lower carbon energy businesses.

 

The operator said it had set growth targets for renewable fuels, hydrogen, and carbon capture through 2030.

 

The company intends to grow renewable natural gas production to 40,000 MMbtu/d to supply a network of stations serving heavy duty transport customers; increase renewable fuels production capacity to 100,000 b/d to meet growing customer demand for renewable diesel and sustainable aviation fuel; grow hydrogen production to 150,000 tonnes/year to supply industrial, power, and heavy duty transport customers; and increase carbon capture and offsets to 25 million tonnes/year by developing regional hubs in partnership with others.

 

To achieve this scale, Chevron said it expected to invest over $10 billion between now and 2028, including $2 billion to lower the carbon intensity of its operations. Previous guidance was $3 billion.

 

“Renewable fuels, hydrogen, and carbon capture target customers such as airlines, transport companies, and industrial producers,” said Jeff Gustavson, president of Chevron New Energies. “These sectors of the economy are not easily electrified, and customers are seeking lower carbon fuels and other solutions to reduce carbon emissions.”

 

Electricity installation vandals arrested in Anambra community

The Enugu Electricity Distribution Company (EEDC) says two suspected notorious electricity installation vandals at Uruayom-Mgbakwu community in Anambra have been nabbed.

 

The EEDC said the arrest was made through the assistance of vigilante team of the community.

 

The Head, Corporate Communications of EEDC, Mr Emeka Ezeh, disclosed this in a statement made available on Saturday.

 

Ezeh said the two suspects, identified as Emeka Anene and Nwoye Chinedu, both indigenes of the community, were arrested on Sept. 14 by a vigilante team of same community.

 

“Two were caught red handed vandalising a transformer belonging to EEDC, located at Uruayom-Mgbakwu community in Awka North Local Government Area of Anambra.

 

“The suspects were subsequently handed over to Mgbakwu police station for further interrogation and possible prosecution,” he said.

 

Ezeh, however, expressed concerns over series of attacks on both EEDC installations and its members of staff within the South-East.

 

“The management of EEDC frowns at these acts that impact negatively on its operations.

 

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