Chevron looks to reduce CCS costs
The US oil major is investing in capture-technology startups and testing in San Joaquin Valley
US oil major Chevron is looking to invest in carbon capture and storage (CCS) technologies to bring down the cost of the technology, the company’s vice-president of CCUS, Chris Powers, told Gulf Energy Information’s Carbon Intel conference last week. The US’ recently passed Inflation Reduction Act (IRA) contained incentives for CCS technologies, including raising the amount of federal income tax credit projects can apply for, making it easier for projects to qualify for these credits and extending the construction deadline to do so from 2026 to 2033. “It is great to see some progress with the IRA. There are some key steps in there that enable new technologies to move forward,” Powers told th

Also in this section
17 July 2025
Oil and gas companies will face penalties if they fail to reach the EU’s binding CO₂ injection targets for 2030, but they could also risk building underused and unprofitable CCS infrastructure
9 July 2025
Latin American country plans a cap-and-trade system and supports the scale-up of CCS as it prepares to host COP30
3 July 2025
European Commission introduces new flexibilities for member states to ease compliance with headline goal
1 July 2025
Supportive government policy, deforestation threat and economic opportunity drive forward the region’s monetisation of forest carbon