Andreína Chávez Alava reports that United States President Joe Biden's administration has authorised Chevron to negotiate its licence and “the terms of potential future activities in Venezuela” with Venezuelan state oil company, PDVSA.
It is bad enough that Australia is not on track to cut its greenhouse gas emissions by 26–28% on 2005 levels by 2030, as it is notionally committed to doing, but according to the government's own figures, it is only set to reduce them by 5%. What makes it worse is that even the 26–28% target is very conservative and unlikely to be sufficient.
In truth, wealthy industrialised countries like ours should be seeking to become net zero emission economies and societies, both because we can and because it is simply not worth gambling with the continued existence of life as we know it.
Chevron has become the second big oil company to abandon plans to drill for oil in the Great Australian Bight off the South Australian coast, a year after BP cancelled its plans to drill.
Oil companies say the Bight has similar potential to the Gulf of Mexico, site of the Deepwater Horizon oil spill of 2010, which was the largest marine oil spill in history and killed 11 people.
BP’s recent decision to pull out of a plan to drill for oil in the Great Australian Bight has been dubbed “strategic” by the company’s exploration managing director, Claire Fitzpatrick.
US multinational energy corporation Chevron faces an increased tax bill of $340 million after losing an appeal against the Australian Taxation Office (ATO), over a landmark profit-shifting case.
The full Federal Court on April 21 unanimously upheld a previous decision that Chevron engaged in illegitimate transfer pricing by paying a higher rate of interest on a loan from its subsidiary to shift profits from Australia to the US.
Oil giant Chevron Corp is fighting to avoid paying compensation awarded to about 30,000 Ecuadorean citizens severely affected by the dumping of billions of gallons of toxic waste in the Amazon. Chevron called on a US appeals court on April 20 to stand by a US court decision last year that ruled the US$9.5 billion compensation package awarded by an Ecuadorian court had been secured fraudulently.