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SAN RAMON, California, US, June 14, 2006
(Refocus Weekly)
Chevron has formed a business unit to pursue
commercial opportunities in green fuels.
“Biofuels are a growing component of the world's energy base and
will be an active part of Chevron's efforts to help diversify the
world's energy supplies,” says vice president Donald Paul.
“Chevron's capabilities and experience in producing and distributing
high-quality fuels make us ideally positioned to pursue
opportunities in this sector as it expands.”
The biofuels unit will focus on production and distribution of
ethanol and biodiesel in the U.S. and will operate within Chevron
Technology Ventures, a subsidiary that develops and commercializes
emerging energy technologies. Chevron will leverage its portfolio of
existing technologies and assets to its efforts in this area.
Chevron currently blends 300 million gallons of ethanol per year for
use in gasoline blends in the U.S. and, in January, said it would
participate in an E85 demonstration project with the state of
California, General Motors and Pacific Ethanol. That project will
study performance and environmental issues over a one-year period
using E85, a green fuel that is 85% ethanol and 15% gasoline.
Earlier this month, Chevron invested in Galveston Bay Biodiesel (GBB),
a Houston-based company that is constructing a facility that will
have potential to produce 100 million gallons per year of renewable
fuel from soybeans and other renewable feedstocks. That level would
double the U.S. biodiesel production, which was 75 million gallons
last year, although initial annual production at the Galveston
facility is expected to be 20 million gallons.
Since 2000, Chevron and its subsidiaries has invested $1 billion in
renewable energy projects and energy efficiency solutions, with a
focus on geothermal, hydrogen, biofuels and advanced batteries, as
well as wind and solar. Chevron claims to be the largest renewable
energy producer among global oil and gas companies, producing 1,152
MW of green power, primarily from its geothermal operations in
Indonesia and the Philippines.
“Environmental and energy security concerns and, in some situations,
favorable economics, are promoting public interest, R&D and
investment in renewable energy,” the company explains. “Although the
amount of energy produced from renewables will increase in coming
years, informed projections show that renewables will be just one
part of the overall energy picture.”
“As part of our broader energy development strategy, we are actively
engaged in developing cleaner, diversified energy resources that are
commercially competitive,” it states. “Our approach to pursuing
potential energy sources is based on the fact that such investments
compete in the marketplace against conventional energy sources and
must be considered in context of the company's broader energy
development strategy.”
Between 1999 and 2003, ChevronTexaco invested $110 million per year
in renewables, including a 500 kW solar array at its Bakersfield
production location in California, which is one of the largest solar
PV installations in the U.S. and the first such facility in
California to power oil field operations. It built and operates one
of two geothermal power plants in Indonesia that generates 145 MW,
and has installed a 191 kW solar electric and a 360 kW cogeneration
system at Pierce College in Los Angeles, a 22.5 MW windfarm at
Nerefco refinery in the Netherlands, a 200 kW hydrogen fuel cell
power plant at its data centre in San Ramon, and a high-efficiency
lighting system in conjunction with a solar PV system at Moscone
Convention Center in San Francisco.
“Chevron believes renewable and alternative energy sources are
important in the overall energy mix for the global economy,” it
concludes. “However, the widespread use of renewable energy sources
depends on many factors, including technical progress, market
acceptance and economic viability.”
Chevron is an energy company with 53,000 employees, operating in 180
countries.
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