Chevron to triple clean energy investment to $10bn by 2028

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Climate activists says the company is focusing on offsetting emissions from oil and gas, but not on cutting output

Climate activists say the company is focusing on offsetting emissions from oil and gas, but not on cutting outputChevron's offices in Los Angeles, California, the US. Pictrue: REUTERS/LUCY NICHOLSON

Chevron outlined plans to develop hydrogen energy, biofuels as well as carbon capture. It reaffirmed a goal of paring greenhouse gas intensity by 35% by the end of 2028 compared with 2016 levels from its oil and gas output. Chevron said it would expand renewable natural gas production to 40-billion British thermal units per day and increase renewable fuels production capacity to the equivalent of 100,000 barrels a day to meet customer demand for renewable diesel and sustainable aviation fuel.

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