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Chevron to acquire Anadarko in $33B deal; shale and tight, deepwater, LNG

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Chevron Corporation entered into a definitive agreement with Anadarko Petroleum Corporation to acquire all of the outstanding shares of Anadarko in a stock and cash transaction valued at $33 billion, or $65 per share. This transaction builds strength on strength for Chevron. —Chevron’s Chairman and CEO Michael Wirth.

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Chevron introduces new category of heavy-duty motor oil for severe duty applications; improved fuel economy

Green Car Congress

Chevron Products Company, a Chevron USA Inc. Delo 400 SD SAE 15W-30 is an API CJ-4 heavy duty diesel engine oil formulated using a new Chevron patent pending technology to provide key benefits for engines with “severe duty” cycles in on- and off-highway applications. Improved fuel economy over SAE 15W-40 conventional oils.

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Chevron announces $32.7B capital and exploratory budget for 2012; LNG and deepwater investments propel a step change

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Chevron Corporation announced a $32.7 Included in the 2012 program are $3 billion of planned expenditures by affiliates, which do not require cash outlays by Chevron. The program also supports continued exploration and appraisal activity in Chevron's focus areas of Western Australia, the Gulf of Mexico and western Africa.

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LS9 Closes $25M Round; Chevron Takes a Stake

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Participating investors included CTTV Investments LLC, the venture capital arm of Chevron Technology Ventures LLC; Flagship Ventures; Khosla Ventures and Lightspeed Venture Partners. LS9 has also discovered and engineered a new class of enzymes and their associated genes to efficiently convert fatty acids into hydrocarbons.

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ExxonMobil to proceed with $14B Hebron heavy oil project off Canada’s East Coast; more than 700B barrels of oil

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Source: Chevron. ExxonMobil will employ its expertise in Arctic development and project execution to develop this world-class resource in challenging operating conditions. Hebron co-venturers are Chevron Canada Limited (26.7%), Suncor Energy Inc. The platform is being designed for daily production of 150,000 barrels of oil.

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Fortistar and Paloma Dairy begin construction on RNG facility that will produce 1.6M GGE of fuel annually

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million gasoline gallon equivalents (GGE) of vehicle fuel annually for the Class 8 trucking sector—enough fuel to move 10 million miles of freight. The Low Carbon Fuel Standard (LCFS) credits will be sold to Chevron under a long-term agreement. The new facility will produce 1.6 Financing was provided by Live Oak Bank.

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US Navy completes sea trial with ARA’s 100% drop-in renewable diesel fuel

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ReadiDiesel was developed by Applied Research Associates (ARA) and Chevron Lummus Global, as a drop-in replacement for petroleum F-76 marine diesel. Foster (EDD-964, Spruance-class destroyer) leaving Port Hueneme on 21 November 2013. ReadiDiesel is a 100% renewable biofuel. Earlier post.). The ex- Paul F. The ex- Paul F. Earlier post.)

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