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Chevron’s New Energy Transition (‘Low-carbon Investments’) Unit To Come Into Effect From Aug 2

By John F. Heerdink, Jr.

Reportedly, Chevron Corporation (CVX) announced the creation of a new unit to take care of its low-carbon investments, with an initial focus on alternative energy sources like hydrogen and technologies including carbon capture. The unit is to come into operations from August 2 and will be headed by Jeff Gustavson. The oil majors across the globe are working to reposition themselves as leaders of a shift away from oil, pushed by the mounting pressure from environmentalists and investors. Gustavson, 49, is currently serving as vice president of North America upstream oil exploration business and oversees the mid-continent unit.

“We believe the dedication of resources in a new organization will accelerate growth in multiple business lines that we expect to be part of a lower carbon energy system,” stated Chevron Chief Executive Officer Mike Wirth.


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.


Vista Partners LLC (”Vista”) is a California Registered Investment Advisor based in San Francisco. Vista delivers timely and relevant insights via the website: www.vistapglobal.com 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: UPDATE 1-Chevron sets up energy transition unit, names company insider as head in Reuters)


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