Global demand for oil is likely to recover from the second half of the year and could reach 99 million barrels per day (bpd)in 2022, Amin Nasser said at IHS Markit's online CERAWeek conference. Diesel demand has recovered globally due to door-to-door deliveries, though jet fuel lags as people avoid long flights, said Chevron CEO Michael Wirth, who spoke on a panel with Nasser. Oil demand improving in China, India and East Asia, with vaccine deployment as "cause for optimism" in the West, Nasser said.
Chevron (CVX) venture capital arm Chevron Technology Ventures initiates a second Future Energy Fund of $300M to focus on low-carbon technologies and uphold innovations in industrial decarbonization.
Chevron Corporation (NYSE: CVX) today announced an investment in Baseload Capital AB, a Sweden-based private investment company focused on development and operation of low-temperature geothermal and heat power assets.