Chevron helping meet global liquefied natural gas needs

December 20, 2022 – Chevron Corporation (NYSE:CVX) today announced the following - Chevron is expanding our liquefied natural gas (LNG) business to help meet increasing global demand.

Demand for natural gas is growing around the world. As countries’ economies grow and transition to cleaner energies, global markets need more energy and gas supply. Recent geopolitical tensions are also affecting natural gas availability and pricing, especially in Europe.

Scott McKay, who manages Chevron’s natural gas trading in the Americas, says we have plans in place to increase our production and help meet the rising demand.

“The majority of our LNG growth will occur in the Americas and Eastern Mediterranean,” said McKay. “That’s to complement existing flows from Western Australia, Equatorial Guinea and Angola. The export capacity we’re taking out in the U.S. is ideally located for delivering into Europe to meet European gas needs in the medium term.”

While growth in the Eastern Mediterranean is expected to happen over the long term, we are ramping up natural gas production in the Permian Basin to deliver U.S. Gulf Coast LNG now. We are also completing pipeline, liquefaction and shipping commitments to help deliver Permian Basin gas to end-use markets around the world. While most of our LNG from Australia has been destined for parts of Asia, our growing business is expected to meet the urgent demand in Europe and Southeast Asia.

Chevron invests in carbon capture and removal technology company Svante

Houston/Vancouver December 15, 2022 – Chevron New Energies (CNE), a division of Chevron U.S.A. Inc., and Svante announced that Chevron is the lead investor in Svante’s Series E fundraising round, which raised $318 million for use to accelerate the manufacturing of Svante’s carbon capture technology.

“We are advancing a full value chain carbon capture, utilization, and storage (CCUS) business and believe Svante is poised to be a leader in enabling carbon capture solutions,” said Chris Powers, vice president of CCUS with CNE. “Innovation is key to enabling these types of breakthrough technologies and lower carbon solutions, and we look forward to applying our experience and expertise to help drive this effort forward.”

“We are proud that Chevron and a group of existing and new strategic and financial investors have demonstrated their confidence in Svante to be a key player in building a commercially viable carbon management industry,” said Claude Letourneau, President and CEO of Svante. “We are working to remove the biggest barriers to rapid deployment of industrial carbon capture by building this manufacturing facility, which we expect will enable us to rapidly expand our order book.”

Chevron 2023 capital expenditure budgets

San Ramon, Calif., Dec. 7, 2022 – Chevron Corporation today announced 2023 organic capital expenditure budgets of $14 billion for consolidated subsidiaries (capex) and $3 billion for equity affiliates (affiliate capex), which total near the high end of the company’s guidance range.

The company’s 2023 capex budget is up more than 25% from 2022 expected spend, excluding acquisitions. Affiliate capex in 2023 is down modestly from 2022 expected spend. These budgets support Chevron’s objective to safely deliver higher returns and lower carbon and include approximately $2 billion in lower carbon capex, more than double the 2022 budget.

“We’re maintaining capital discipline while investing to grow both traditional and new energy supplies,” said Chevron Chairman and CEO Mike Wirth. “Our 2023 capex budgets are consistent with our long-term plans to safely deliver higher returns and lower carbon.”

Check out Chevron's stories page for more news.

Benefits Update

2023 COLA / Social Security and Medicare Part B Premiums
Over-the-Counter Hearing Aids

Other Chevron Retiree Monetary Benefits - Sign up at BenefitHub

BenefitHub is the discount portal for Chevron Recreation at https://chevrec.benefithub.com On the website you can find discounts and savings to many of your everyday purchases. BenefitHub is also host to Chevron exclusive discounts programs available only to employees, like AVIS, Southwest Airlines, and Verizon wireless. Not yet a member of BenefitHub? Membership is free to employees and retirees. All you need is a referral code to register. Retirees simply email Jim Bonwell at jbonwell@pacbell.net to request a BenefitHub referral code. Your access will be authorized against our retiree database.

Encore 1Q 2023, the CRA quarterly e-magazine, is now online, click here.  

Encore highlights:
President's letter encouraging retirees into more personally satisfying activity like travel, after a long-isolated spell. It concludes urging all to work on or with the local Chapter Boards. He notes the special value of the BenefitHub website as making available to retirees' savings and discounts that Chevron employees already receive for a number of goods and services. He encourages retirees to step up to serve on committees in the Chevron Retiree Association and try leadership roles at all levels.

Chevron News Briefs - Three recent and important press releases from Chevron are featured.

CRA News Briefs -
Holiday lunches held all over the continent. pictures included.
BenefitHub news that provides retirees savings and discounts available to active employees.
 
Featured articles - two multi-talented retirees who make the best of their retired lives

In Memoriam section - Recent retiree deaths reported quarterly by HR

Chevron Merchandise Store Availability 

Various Chevron merchandise is now available through two links listed below.  This was brought about by the CRA East Bay Chapter thanks to Ricky Woo.  
For Men's wear click here.      
For Women's wear click here.