Chevron Corporation announced that its wholly owned subsidiary, PT. Chevron Pacific Indonesia, has started producing crude oil from the North Duri Field Area 12 in Indonesia, where Chevron produces nearly half the nation’s crude oil.
First oil was achieved on Nov. 14, 2008, and production is projected to increase to 34,000 barrels of crude oil per [...]
Chevron Corporation announced that its subsidiary Chevron Africa Holdings Limited has agreed to sell 100 percent of its shareholdings in Chevron Kenya Limited and Chevron Uganda Limited to Total Outre Mer S.A (Total). Under the terms of the sales, Total is to acquire Chevron’s marketing businesses in both countries. Chevron Kenya Limited and Chevron Uganda [...]
Chevron Corporation announced that its subsidiary Chevron Africa Holdings Limited has agreed to sell Chevron Nigeria Holdings Limited to Corlay Global S.A, a Panamanian company owned by an African-based consortium composed of MRS Holdings Limited and Petroci Holdings. Chevron Nigeria Holdings Ltd. is a Bermudan company that holds 60 percent of the issued shares of [...]
Chevron Corporation, the government of Indonesia, the local government of Aceh province, the National Education Department, the Rehabilitation and Reconstruction Agency for Aceh and Nias, and the United States Agency for International Development (USAID) today announced the completion of a $16 million partnership to construct a polytechnic institute in Aceh province, Indonesia.
Chevron committed $6 million [...]
Chevron Corporation announced that it has submitted an environmental permit application to the Mississippi Department of Environmental Quality for the construction of a premium base oil facility at the company’s Pascagoula refinery. The facility is expected to produce approximately 25,000 barrels per day of premium base oil for use in manufacturing high-performance lubricants, such as [...]
Chevron Canada Limited, a wholly owned subsidiary of Chevron Corporation, today announced on behalf of itself and its co-venturers the completion of legal agreements with the Government of Newfoundland and Labrador to develop the Hebron heavy oil project offshore the East Coast of Canada.
The Hebron field is located 340 km offshore the province of Newfoundland [...]
Beacon Energy Corp., an emerging producer and investor in the developing biodiesel sector, has become a wholly-owned subsidiary of Beacon Energy Holdings, Inc., a public reporting company. As a result of the transaction, all stockholders of Beacon Energy Corp. exchanged their interests for stock of the public company.
Source: Beacon Energy Corp.
Beacon Energy Corp. was formerly [...]
In a report to be released Tuesday, London-based New Finance Energy says increased biofuels production is not a primary culprit behind rising food prices.
The study looks at food price increases from 2004 to 2008 and factors such as input costs, dollar depreciation, supply and demand, and speculative activity. It finds that growing emphasis on biofuels [...]
Economist Jeffrey Sachs said the U.S. and European Union should reconsider their emphasis on biofuels made from crops grown on land that had previously been used to produce food. Speaking to reporters before an address to EU lawmakers, Sachs said targets to produce more such fuels “do not make sense now in a global food [...]
New United Nations special adviser on food Olivier de Schutter has called for an immediate freeze on investment in biofuels - crops which can be converted into energy, instead of food.
Mr de Schutter says the pursuit of biofuels is contributing to a global food crisis threatening 100 million of the world’s poorest people.
He has described [...]
