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Chevron (CVX), Others to Explore Green Projects in Indonesia
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Chevron Corporation (CVX - Free Report) , along with Pertamina Power Indonesia and Keppel Infrastructure, recently announced that it signed a joint study agreement for the exploration of selected green hydrogen and green ammonia project development using renewable energy in Sumatera, Indonesia.
The agreement was signed at the Business 20 (B20) Investment Forum held in conjunction with the B20 Summit in Bali. The companies intend to explore the viability of developing a green hydrogen facility, powered by 250-400 megawatts of geothermal energy in the initial phase.
The hydrogen production unit, with a production volume of no less than 40,000 tons per annum, could have the potential to scale up to 80,000 to 160,000 tons per annum, contingent on geothermal energy accessibility and market demands. The joint study agreement aims to leverage and build on the strength of each of the three partners.
Austin Knight, the vice president of Hydrogen, Chevron New Energies, stated that his company has a long-standing history of working in Indonesia and with Pertamina and a growing relationship with Keppel. “Chevron’s strength has always been solving big, complex energy challenges, and creating a lower carbon future is the opportunity that motivates us. As part of this effort, we must work together to identify new, innovative ways of producing and delivering ever-cleaner energy to a growing world,” he added.
Chevron, the American oil major, 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, CVX 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). Investors interested in the energy space might look at some better-ranked stocks — Vista Oil & Gas (VIST - Free Report) , NexTier Oilfield Solutions and PBF Energy (PBF - Free Report) — each sporting a Zacks Rank #1 (Strong Buy). You can see the complete list of today’s Zacks #1 Rank stocks here.
The consensus estimate for Vista’s 2022 earnings is pegged at $3.11 per share, which indicates an increase of 475.9% from the year-ago earnings of 54 cents.
The consensus mark for VIST’s 2022 earnings has been revised 29.6% upward over the past 60 days.
The Zacks Consensus Estimate for NexTier’s 2022 earnings stands at $1.41 per share, indicating an increase of about 427.9% from the year-ago loss of 43 cents.
NEX beat estimates for earnings in all the trailing four quarters, the average being around 271%.
The Zacks Consensus Estimate for PBF Energy’s 2022 earnings stands at $23.72 per share, indicating an increase of about 1,048.8% from the year-ago loss of $2.50.
PBF beat the consensus mark for earnings in all the trailing four quarters, the average being around 49%.
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Chevron (CVX), Others to Explore Green Projects in Indonesia
Chevron Corporation (CVX - Free Report) , along with Pertamina Power Indonesia and Keppel Infrastructure, recently announced that it signed a joint study agreement for the exploration of selected green hydrogen and green ammonia project development using renewable energy in Sumatera, Indonesia.
The agreement was signed at the Business 20 (B20) Investment Forum held in conjunction with the B20 Summit in Bali. The companies intend to explore the viability of developing a green hydrogen facility, powered by 250-400 megawatts of geothermal energy in the initial phase.
The hydrogen production unit, with a production volume of no less than 40,000 tons per annum, could have the potential to scale up to 80,000 to 160,000 tons per annum, contingent on geothermal energy accessibility and market demands. The joint study agreement aims to leverage and build on the strength of each of the three partners.
Austin Knight, the vice president of Hydrogen, Chevron New Energies, stated that his company has a long-standing history of working in Indonesia and with Pertamina and a growing relationship with Keppel. “Chevron’s strength has always been solving big, complex energy challenges, and creating a lower carbon future is the opportunity that motivates us. As part of this effort, we must work together to identify new, innovative ways of producing and delivering ever-cleaner energy to a growing world,” he added.
Chevron, the American oil major, 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, CVX 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). Investors interested in the energy space might look at some better-ranked stocks — Vista Oil & Gas (VIST - Free Report) , NexTier Oilfield Solutions and PBF Energy (PBF - Free Report) — each sporting a Zacks Rank #1 (Strong Buy). You can see the complete list of today’s Zacks #1 Rank stocks here.
The consensus estimate for Vista’s 2022 earnings is pegged at $3.11 per share, which indicates an increase of 475.9% from the year-ago earnings of 54 cents.
The consensus mark for VIST’s 2022 earnings has been revised 29.6% upward over the past 60 days.
The Zacks Consensus Estimate for NexTier’s 2022 earnings stands at $1.41 per share, indicating an increase of about 427.9% from the year-ago loss of 43 cents.
NEX beat estimates for earnings in all the trailing four quarters, the average being around 271%.
The Zacks Consensus Estimate for PBF Energy’s 2022 earnings stands at $23.72 per share, indicating an increase of about 1,048.8% from the year-ago loss of $2.50.
PBF beat the consensus mark for earnings in all the trailing four quarters, the average being around 49%.