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Chevron Phillips Chemical Company LP Agreed To Spend $118M To Clean & Upgrade Petrochemical Plants- $CVX $DIA

By John F. Heerdink, Jr.

Reportedly, Chevron Phillips Chemical Company LP, a joint venture between Chevron Corporation (CVX) and Phillips 66 has agreed to spend $118 million to clean and upgrade three of its petrochemical plants on the Gulf Coast. Chevron Phillips Chemical Company LP has been ordered to pay $3.4 million as a civil penalty for failing to meet federal air quality rules and monitoring its industrial lapses that resulted in exceeding limits for emitting hazardous air pollutants and volatile organic compounds.

The company entered a settlement with the Justice Department to resolve allegations that it violated the Clean Air Act and state pollution laws at three of its petrochemical facilities along the Texas Gulf Coast.

“We are pleased to have this matter settled with the EPA and are making additional investments to proactively reduce our environmental footprint as part of our sustainability strategy,” stated a Chevron Phillips spokesperson.

Chevron Phillips has been ordered to install pollution control and air monitoring equipment at all three plants, that will assist in reducing greenhouse gas emissions and other pollutants. The plants will also be required to install fenceline monitoring benzene (a carcinogen known for causing leukemia and respiratory issues) emissions and take necessary actions when benzene readings exceed limits to protect local communities. 

Dow 30 component Chevron Corporation (CVX), through its subsidiaries, engages in integrated energy, chemicals, and petroleum operations worldwide.  To learn more about Chevron (CVX) and to track their progress please visit the Vista Partners Chevron Page.

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(Read Original Story: Chevron, Phillips venture to pay millions for air violations at chemical plants in Reuters)


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