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Chevron to open biofuels unit



By Upstream staff 

Chevron said today it has formed a biofuels business unit to advance technology and pursue commercial opportunities related to the production and distribution of ethanol and biodiesel in the US.

Chevron will officially announce the business unit today in Galveston, Texas, where the company is participating in a groundbreaking ceremony to inaugurate construction of one of the first large-scale biodiesel plants in the US.

Participating in the ceremony will be Senator Kay Bailey Hutchison, Lyda Ann Thomas, mayor of Galveston, Donald Paul, vice president and chief technology officer, Chevron, and William Berger, chairman of Galveston Bay Biodiesel.

"Biofuels are a growing component of the world's energy base and will be an active part of Chevron's efforts to help diversify the world's energy supplies.

"Chevron's capabilities and experience in producing and distributing high-quality fuels make us ideally positioned to pursue opportunities in this sector as it expands," said Paul.

The biofuels business unit will operate within Chevron Technology Ventures, a corporate subsidiary dedicated to identifying, developing and commercialising emerging energy technologies.


Wednesday, 31 May, 2006, 14:56 GMT  | last updated: Wednesday, 31 May, 2006, 14:56 GMT

Base: Chevron is setting up a biofuels unit in the Texas city of Galveston
 

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