Chevron triples low-carbon investment, pledges $10 billion through 2028

Investing.com | Sep 14, 2021 at 9:48 PM
  • -U.S. oil producer Chevron Corp (NYSE:CVX) on Tuesday pledged to triple to $10 billion its investments in low-carbon fuel and projects through 2028.
  • European oil producers have ambitious plans to shift away from fossil fuels with large investments in renewables and mid-century net-zero emission targets.
  • Chevron, the second-largest U.S. oil producer, aims to increase hydrogen production to 150,000 tonnes a year to supply industrial, power and heavy duty transport customers and raise carbon capture and offsets to 25 million tonnes a year by co-developing regional hubs.