OGRepublic August Edition

INDUSTRY NEWS
Chevron Reposition its Top Management Executives
Chevron Corporation has strengthened
its business prospect on hydrogen,
carbon capture, biofuels among others.
As part of the company's effort to reposition its
business portfolio towards clean energy,
Chevron has appointed Jeff Gustavson as
President, Chevron New Energies, effective
August 2, 2021. Gustavson will serve as a
corporate officer and report to Chevron
Chairman and CEO Michael Wirth.
Gustavson, 49, will lead a new, dedicated
organization focused on low carbon business
prospects that have the potential to scale.
Chevron New Energies’ initial focus will include
commercialization opportunities in hydrogen,
carbon capture, and offsets and support of
ongoing growth in biofuels. Additional detail
about these efforts will be provided on
September 14th during the company’s Energy
Transition Spotlight investor presentation.
“Chevron New Energies reflects our higher
returns, lower carbon strategy,” said Wirth.
“We believe the dedication of resources in a
new organization will accelerate growth in
multiple business lines that we expect to be
part of a lower carbon energy system.”
Gustavson is currently vice president of
Chevron North America Exploration &
Production Company and oversees its Mid-
Continent Business Unit. He previously served
as president of Chevron Canada Limited, and
has held positions in Investor Relations,
Corporate Strategic Planning, Finance,
Mergers & Acquisitions, and Supply & Trading.
Michael Wirth, Chief Executive Officer,
Chevron Corporation
Jeff Gustavson, President, Chevron New Energies
Ryder Booth, Vice President, Chevron North
America Exploration & Production Company
In a separate appointment, Ryder Booth, 52,
has been named Vice president of Chevron
North America Exploration & Production
Company, leading the Mid-Continent Business
Unit and succeeding Gustavson.
Both, currently Vice President, Capital Projects,
will be responsible for a large resource base of
oil and liquids-rich assets in the mid-continent
United States, including Chevron’s significant
Permian assets in Texas and New Mexico. His
appointment is effective August 2, 2021.
Chevron is one of the world’s leading integrated
energy companies. We believe affordable,
reliable and ever-cleaner energy is essential to
achieving a more prosperous and sustainable
world.
Chevron produces crude oil and natural gas;
manufactures transportation fuels, lubricants,
petrochemicals and additives; and develops
technologies that enhance our business and the
industry.
To advance a lower-carbon future, we are
focused on cost efficiently lowering our carbon
intensity, increasing renewables and offsets in
support of our business, and investing in lowcarbon
technologies that enable commercial
solutions.
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