--- title: "What's Going On With Chevron Shares Thursday?" description: "Chevron Corp shares are trading higher following the receipt of a greenhouse gas (GHG) assessment permit offshore Western Australia. The joint venture includes Chevron with a 70% stake and Woodside En" type: "news" locale: "en" url: "https://longbridge.com/en/news/212286821.md" published_at: "2024-08-22T16:14:33.000Z" --- # What's Going On With Chevron Shares Thursday? > Chevron Corp shares are trading higher following the receipt of a greenhouse gas (GHG) assessment permit offshore Western Australia. The joint venture includes Chevron with a 70% stake and Woodside Energy with 30%. Additionally, Chevron is set to transfer 5% of its stake to GS Caltex, subject to regulatory approvals. This permit, which spans 8,467 km², aims to evaluate a hub for storing emissions. Chevron’s ongoing efforts in carbon capture and storage (CCS) are supported by significant investments, including a new technology center in Bengaluru, India. CVX shares rose 0.45%. **Chevron Corp** CVX shares are trading higher today. The company, through Chevron Australia New Ventures, has been granted a greenhouse gas (GHG) assessment permit offshore Western Australia. The permit involves a joint venture with Chevron as the operator, holding a 70% interest, and **Woodside Energy Group Ltd – ADR** WDS with a 30% interest. Chevron will transfer 5% of its stake to **GS Caltex (GSC) of Korea**, pending regulatory approvals and other conditions. The G-18-AP permit, located offshore from Onslow, Western Australia, spans about 8,467 km² with depths ranging from approximately 164 feet to 3,281 feet (50 to 1,100 meters). The area will be used to evaluate a hub for storing third-party emissions, including those from Chevron’s LNG assets. This award complements Chevron’s existing non-operated interests in blocks G-9-AP, G-10-AP, and G-11-AP and adds to its operations at Gorgon CCS, which has now captured and stored 10 million tonnes of CO2 equivalent. Chris Powers, vice president of CCUS and Emerging for Chevron New Energies, said, “Chevron, along with our joint venture participants, have a unique set of assets, capabilities and, customer relationships to support the further assessment, development, and deployment of carbon capture and storage (CCS) in Australia,” “Together with the Chevron-operated Gorgon CCS project, one of the world’s largest integrated facilities, coupled with our existing GHG assessment permits, this new award has potential to expand Chevron’s portfolio of CCS assets in Australia,” Mark Hatfield, managing director of Chevron Australia, said, “These opportunities have the potential to help us lower the carbon intensity of our own operations as well as provide opportunities to help our customers reduce or offset emissions from their activities.” Yesterday, Chevron said it will inject $1 billion into establishing a technology center in Bengaluru, India. Investors can gain exposure to the stock via **EA Series Trust Strive U.S. Energy ETF** DRLL and **SPDR Select Sector Fund – Energy Select Sector** XLE. **Price Action**: CVX shares are up 0.45% at $145.01 at the last check Thursday. **Read Next: • August Services Growth Exceeds Expectations As Manufacturing Slumps: Inflation Gradually Eases ‘To Normal Levels’** ***Disclaimer:*** *This content was partially produced with the help of AI tools and was reviewed and published by Benzinga editors.* *Photo: Shutterstock* ### Related Stocks - [CVX.US - Chevron](https://longbridge.com/en/quote/CVX.US.md) ## Related News & Research | Title | Description | URL | |-------|-------------|-----| | Asia Naphtha/Gasoline-Gasoline refining profit margin rises above $16/bbl | Asia's gasoline refining profit margin rose to $16.31 per barrel over Brent crude, driven by increased demand in Singapo | [Link](https://longbridge.com/en/news/268051855.md) | | BMO Capital Sticks to Their Buy Rating for Chevron (CVX) | BMO Capital Sticks to Their Buy Rating for Chevron (CVX) | [Link](https://longbridge.com/en/news/269405435.md) | | Tempus AI EVP Erik Phelps Sells Shares | Erik Phelps, EVP and Chief Admin. Officer of Tempus AI, sold 9,464 shares of Class A Common Stock on February 19, 2026, | [Link](https://longbridge.com/en/news/276495655.md) | | Annette Franqui Purchases 1,540 Shares of OFG Bancorp (NYSE:OFG) Stock | OFG Bancorp Director Annette Franqui purchased 1,540 shares of the company's stock at $42.06 per share, totaling $64,772 | [Link](https://longbridge.com/en/news/276494822.md) | | ConocoPhillips considers selling Permian assets worth $2 billion, Bloomberg News reports | Feb 20 (Reuters) - ConocoPhillipsis exploring a sale of some of its Permian Basin assets as part of a broader streamlini | [Link](https://longbridge.com/en/news/276478732.md) | --- > **Disclaimer**: This article is for reference only and does not constitute any investment advice.