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Chevron (CVX) Claims Methane Emission Cut by 50% Since 2016
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Chevron Corporation (CVX - Free Report) recently came out with its methane report for 2022. The energy major stated that it brought down the methane intensity at its operations by 50%, making CVX's U.S. upstream methane intensity 85% lower than the U.S. upstream production sector average as of 2020.
Balaji Krishnamurthy, the corporate vice president of Strategy and Sustainability for Chevron, states that the firm’s strategy to leverage its strengths to safely deliver lower-carbon energy to a growing world is very clear. “Chevron’s ambition is to be a global leader in methane emissions performance. Our goal is simple – keep methane in the pipe,” he added.
CVX intends to meet the objective by reducing methane intensity, improving methane detection and advancing measurement.
For instance, in the Permian Basin, as part of the standard design, Chevron includes vapor recovery units for tank batteries and compressor stations. Since 2011, the firm has incorporated compressed air for pneumatic controllers to eliminate methane emissions from the source, along with committing to designing, wherever possible, all new upstream facilities to operate without routine methane emissions.
Per CVX, it is testing emergent technology and integrating innovative solutions into its methane management programs. The company has also tested 13 advanced detection and measurement technologies since 2016.
Chevron is one of the largest publicly traded oil and gas companies in the world with operations spanning worldwide. The only energy component of the Dow Jones Industrial Average, Chevron is fully integrated as it participates in every aspect related to energy, from oil production to refining and marketing.
The Zacks Consensus Estimate for Liberty’s 2022 earnings is pegged at $2.02 per share, which implies an increase of about 298% from the year-ago loss of $1.02.
LBRT beat the consensus mark for earnings in three of the trailing four quarters, the average being around 58.4%.
The consensus estimate for CVR Energy’s 2022 earnings has been revised 22.6% upward over the past 90 days.
The Zacks Consensus Estimate for CVI’s 2022 earnings is pegged at $5.58 per share, up about 700% from the year-ago loss of 93 cents.
Estimates for Earthstone’s 2022 earnings are pegged at $5.76 per share, indicating an increase of about 360.8% from the year-ago earnings of $1.25.
ESTE beat the Zacks Consensus Estimate for earnings in all the trailing four quarters, the average being around 27%.
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Chevron (CVX) Claims Methane Emission Cut by 50% Since 2016
Chevron Corporation (CVX - Free Report) recently came out with its methane report for 2022. The energy major stated that it brought down the methane intensity at its operations by 50%, making CVX's U.S. upstream methane intensity 85% lower than the U.S. upstream production sector average as of 2020.
Balaji Krishnamurthy, the corporate vice president of Strategy and Sustainability for Chevron, states that the firm’s strategy to leverage its strengths to safely deliver lower-carbon energy to a growing world is very clear. “Chevron’s ambition is to be a global leader in methane emissions performance. Our goal is simple – keep methane in the pipe,” he added.
CVX intends to meet the objective by reducing methane intensity, improving methane detection and advancing measurement.
For instance, in the Permian Basin, as part of the standard design, Chevron includes vapor recovery units for tank batteries and compressor stations. Since 2011, the firm has incorporated compressed air for pneumatic controllers to eliminate methane emissions from the source, along with committing to designing, wherever possible, all new upstream facilities to operate without routine methane emissions.
Per CVX, it is testing emergent technology and integrating innovative solutions into its methane management programs. The company has also tested 13 advanced detection and measurement technologies since 2016.
Chevron is one of the largest publicly traded oil and gas companies in the world with operations spanning worldwide. The only energy component of the Dow Jones Industrial Average, Chevron is fully integrated as it participates in every aspect related to energy, from oil production to refining and marketing.
Chevron currently has a Zacks Rank #3 (Hold). Some better-ranked stocks from the energy space that warrant a look include Liberty Energy (LBRT - Free Report) , CVR Energy (CVI - Free Report) and Earthstone Energy , each carrying a Zacks Rank #2 (Buy). You can see the complete list of today’s Zacks #1 Rank (Strong Buy) stocks here.
The Zacks Consensus Estimate for Liberty’s 2022 earnings is pegged at $2.02 per share, which implies an increase of about 298% from the year-ago loss of $1.02.
LBRT beat the consensus mark for earnings in three of the trailing four quarters, the average being around 58.4%.
The consensus estimate for CVR Energy’s 2022 earnings has been revised 22.6% upward over the past 90 days.
The Zacks Consensus Estimate for CVI’s 2022 earnings is pegged at $5.58 per share, up about 700% from the year-ago loss of 93 cents.
Estimates for Earthstone’s 2022 earnings are pegged at $5.76 per share, indicating an increase of about 360.8% from the year-ago earnings of $1.25.
ESTE beat the Zacks Consensus Estimate for earnings in all the trailing four quarters, the average being around 27%.