U.S. oil major Chevron Corporation has revealed plans to triple its total capital investment to $10 billion through 2028, listed its growth targets for renewable fuels, hydrogen, and carbon capture through 2030, and reaffirmed its guidance of $25 billion excess cash generation over the next five years.

Chevron’s Energy Transition Spotlight presentation, which was announced in July this year, took place on Tuesday, 14 September 2021 and the company used the opportunity to outline its goals to invest more capital into the growth of lower carbon energy businesses.