By Colin Kellaher

 

Chevron Corp. on Thursday said it named Jeff Gustavson president of Chevron New Energies, a new, dedicated organization focused on low-carbon business prospects that have the potential to scale.

The San Ramon, Calif., energy giant said Chevron New Energies' initial focus will include commercialization opportunities in hydrogen, carbon capture and offsets, and support of ongoing growth in biofuels.

Chevron said it will share more details about the new efforts during an investor presentation on Sept. 14.

The company said Mr. Gustavson, 49 years old, currently serves as vice president of Chevron North America Exploration & Production Co., overseeing the company's mid-continent business unit. Ryder Booth, currently vice president of capital projects, will succeed Mr. Gustavson in that post.

Chevron said Mr. Gustavson will serve as a corporate officer, reporting to Chairman and Chief Executive Michael Wirth.

 

Write to Colin Kellaher at colin.kellaher@wsj.com

 

(END) Dow Jones Newswires

July 29, 2021 09:31 ET (13:31 GMT)

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