Finance

 Chevron seeks increased investment in gas output

 Chevron seeks increased investment in gas output 

Oil major, Chevron Corp says natural gas will play a long-term role in curbing emissions, bucking some environmental groups that see the fuel’s role as a temporary bridge to a low-carbon economy. 

European buyers are signing more gas-delivery contracts of a decade or more in duration as they seek replacement sources of the heating and power-plant fuel formerly supplied by Russia, said Colin Parfitt, Chevron’s Vice President of Midstream. 

He said, “We see a long demand for natural gas. But we don’t think it’s just an intermediate step. We see that as a long-term step.” 

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In Nigeria, Chevron Nigeria Limited (CNL), which operates a joint venture with the Nigerian National Petroleum Company Limited (NNPCL), said it recognizes the importance of minimizing its environmental footprints by promoting ecosystem restoration. 

The company said its actions continually aim to achieve world-class environmental excellence through the implementation of its Environment Risk Management process to identify, assess, mitigate against, and manage environmental risks, environmentally related community health risks, and environmentally related social risks. 

It expressed its commitment to global action towards addressing the impact of plastic pollution and creating an eco-friendly environment, as the world celebrates this year’s World Environment Day, WED. 

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The world commemorates World Environment Day every June 5 to celebrate and promote environmental awareness and sustainability across the globe. 

Led by the United Nations Environment Programme, UNEP, each edition since 1974 focuses on raising awareness and mobilizing the world to take positive action to protect nature and our planet. 

Chevron, in a statement, said the move to address the impact of plastic pollution aligns with its commitment to protecting the environment while providing affordable, reliable, and ever-cleaner energy. 

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“CNL conducts its business in a socially and environmentally sustainable manner, in compliance with all applicable laws and regulatory requirements, stakeholder expectations and best industry practices, and has made environmental stewardship part of its social investment programmes,” it stated. 

Chairman and Managing Director, CNL, Rick Kennedy, explained that the company’s approach to sustainability is highlighted by its commitment to protecting the environment, empowering its people, and always getting results the right way. 

Independent

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