As an integrated energy company, Chevron has been into exploration and production of natural gas and crude oil, refining, selling and distribution of fuel and lubricants, production and marketing of petrochemical products, and geothermal power generation. On top of that, it has devoted a considerable amount of resources developing biofuels.
Chevron has a number of large projects around the world. It has poured out heavy investments on exploring reserves while increasing production capacity in Indonesia, Angola, Nigeria, Australia, Brazil and Thailand. Its exploits paid off when the company was able to discover four natural gas deposits off Australia’s western coasts and crude oil deposits off the Gulf of Mexico in 2011.
At present, Chevron has a daily capacity of 2.6 million barrels of net oil-equivalent. The production capacity is expected to increase at a rate of 4 to 5 percent per year and should hit 3.3 million barrels per day by 2017.
Chevron sees that the gas and oil market will continue to grow in the future. However, the company positions itself to a quick shift from hydrocarbons if necessary. Chevron could not ignore the rising global demand for cleaner energy technology where biofuels are the wisest investment.
Along with all the other industry players and startups, biofuels are the new options for energy and fuel generation. And Chevron is up to the challenge of finding solution for the worst environmental catastrophes that are imminent to happen.