Chevron (formerly known as Caltex in the Philippines) has earmarked $20 M for their ethanol projects in the Philippines in order to meet the 10% bioethanol requirement imposed by the Philippine Biofuel Law to be mixed in gasoline sold at the pump by January of 2009.
This was announced recently by Chevron brand manager Dominic Timbancaya during the launch of their E-10 blended gasoline. E-10 gasoline is gasoline mixed with 10% bioethanol. According to him, the $20M will be used for piping and tanks used in ethanol processing for the next two years.
Chevron is part of the big 3 Oil companies operating in the Philippines (the others are Shell and Petron) with their own refineries that sell fuels and lubricants to the local market. They have been operating in the Philippines for over 90 years already and are employing about 21,000 people locally.
Chevron has 4 business units in operation in the Philippines, they are Chevron Geothermal Philippines Holdings, Inc., Chevron Malampaya LLC. Chevron Philippines, Inc. (CPI), (formerly Caltex Philippines Inc) and Chevron Holdings Inc.
Chevron Geothermal Philippines runs steam fields that provide geothermal energy to the Tiwi and Mak-Ban power plants in Albay and Laguna-Batangas provinces which in turn provide electricity to the Luzon grid.
Chevron Malampaya LLC holds a 45 percent stake in the Malampaya natural gas project run together with other major players such as Shell and the Philippines government
Chevron Holdings Inc is a business process outsourcing unit that provides transactional, processing and consulting services in finance, human resources, procurement e-services, marketing and information technology to other Chevron companies in Asia-Pacific, Africa and North America. They have been operating in country since 1998 and employ about a 1000 people.
Chevron is the 5th largest integrated energy company in the world, selling Caltex products and services in Asia, Australia and parts of the Middle East and Africa. Headquartered in San Ramon, California, they have business in approximately 180 countries that touch on the oil and natural gas industry. This includes exploration and production; refining, marketing and transportation; chemicals manufacturing and sales; as well as power generation. Chevron’s global work force is approximately 53,000 employees.
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Category: Oil, Bioethanol, Caltex, Chevron
