London +4420 814 42225
Moscow +7495 543 9194
Kiev +38044 599 2950

Our Clients

Order Informer

Home > News >

Chevron and Toyota to jointly explore development of commercial hydrogen businesses in the US

April 23/2021

MOSCOW (MRC) -- Oil and gas company Chevron has signed a memorandum of understanding with carmaker Toyota to explore the development of "commercially viable, large-scale" hydrogen businesses in the US, reported S&P Global with reference to the companies' statement April 21.

According to the statement, the partners would investigate the market potential for light-duty and heavy-duty fuel cell electric vehicles, along with the supply options for such demand.

They would also collaborate on public policy developments to support hydrogen infrastructure and explore research and development in hydrogen powered transportation and storage.

"Working towards a strategic alliance on hydrogen presents an opportunity to build a large-scale business in a low-carbon area that is complementary to our current offerings," Chevron's Americas Fuels & Lubricants president Andy Walz said.

As MRC informed earlier, in September 2020, Chevron Phillips Chemical, part of Chevron Corporation, deferred a final investment decision on a USD8 billion joint venture petrochemical complex project along the US Gulf Coast that was expected in 2021. The project, in partnership with Qatar Petroleum (QP), was announced in July 2019. It is slated to include a 2 million mt/year cracker and two 1 million mt/year high density polyethylene (HDPE) plants. The FID delay will also push the original target startup date past 2024.

Ethylene and propylene are feedstocks for producing polyethylene (PE) and polypropylene (PP).

According to MRC's ScanPlast report, Russia's estimated PE consumption totalled 241,030 tonnes in January 2021 versus 217,890 tonnes a year earlier. Only shipments of low density polyethylene (LDPE) and high density polyethylene (HDPE) increased. At the same time, PP shipments to the Russian market reached 141,870 tonnes in January 2021 versus 123,520 tonnes a year earlier. Supply of homopolymer PP and PP block copolymers increased.

Headquartered in San Ramon, California, Chevron Corporation is the the second-largest integrated energy company in the United States and among the largest corporations in the world. Chevron is involved in upstream activities including exploration and production, downstream activities including refining, marketing and transportation, and advanced energy technology. Chevron is also invested in power generation and gasification processes.
Author:Margaret Volkova
Tags:PP, PE, crude and gaz condensate, PP block copolymer, homopolymer PP, propylene, LDPE, HDPE, ethylene, car components, petrochemistry, Chevron, Chevron Phillips, Toyota motor, QP, Russia, USA.
Category:General News
| More

Leave a comment

MRC help


 All News   News subscribe