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Chevron May Face Penalty Charges For Australian LNG Emissions

By John F. Heerdink, Jr.

Dow 30 component Chevron Corporation (CVX), through its subsidiaries, engages in integrated energy, chemicals, and petroleum operations worldwide.

Reportedly, major oil giant Chevron may face penalty charges for carbon emissions from its Gorgon LNG plant-based in Western Australia licensed since July 2016, after a recommendation by Western Australia’s environment minister was made to the state’s Environmental Protection Authority to hold Chevron responsible for carbon emissions.

However, Chevron defended the allegations stating that all the three of its processing units at the plant have still not reached a steady state of operations and assured to be the lowest emitter of any LNG project in Australia once its carbon injection project starts operating at full tilt.

“The EPA does not agree with the argument that operations do not commence until all stages of the proposals are constructed and operating at full capacity,” cleared the agency.

No information on the dates for the final decision by Environment Minister nor any details about penalty were disclosed.

To learn more about Chevron (CVX) and to track their progress please visit the Vista Partners Chevron Page.

Vista Partners LLC (”Vista”) is a California Registered Investment Advisor based in San Francisco. Vista delivers timely and relevant insights via the website: with daily stories, weekly market updates, monthly macroeconomic newsletters, podcasts, & Vista’s proprietary equity and market research to help you stay informed and stay competitive. Vista’s mission is to invest partner capital while arming investors with a comprehensive global financial perspective across all market sectors. Vista also seeks to provide select issuers with actionable advice regarding fundamental development, corporate governance, and capital market directives.

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(Read Original Story: Chevron faces possible fines for Gorgon LNG's emissions in Australia in Reuters)


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