Texaco Effective Emissions Management

Texaco is a major energy and power company with revenues of US$51B and total assets of US$31B (2000).

Business Profile

Texaco operates in 150 countries worldwide and covers all aspects of the energy business:

• exploration and production
• refining and marketing
• power and gasification

Texaco and Chevron recently agreed to a US$ 100B merger creating a top-tier integrated energy company.

Emissions Profile

Greenhouse gas emissions from Texaco’s worldwide operations were 30 mt CO2eq in 200, compared to 37 mt CO2eq in 1997.

Texaco is “…actively addressing the issue of climate change through effective emissions management, the application of innovative technologies and constructive dialogue with governmental and nongovernmental organizations.”

Texaco’s plan of action in response to climate change is fourfold:

• assess past, present, and future levels of emissions and incorporate strategies into business plans to improve efficiencies
• seek new market opportunities for the expanded application of innovative, cleaner energy technologies
• pursue co-operative, market-based solutions — including global emission credits trading – which ensure worldwide access to cleaner technology and cost-effective emissions reductions
• participate in the global dialogue with business, governmental and other organizations on the issues associated with climate change

Initiatives and Investments

Texaco has implemented the following climate change response initiatives:

• business planning process for projects under development to include greenhouse gas emission estimates
• reached a co-operative agreement with the Australian government on a greenhouse gas management strategy for all activities related to the recovery and export of LNG by Western Australian Petroleum Pty Ltd, a company partly owned by Texaco
• agreed to fund a 70-year reforestation project in Mississippi and Louisiana to remove an estimated 800,000 m tCO2eq from the atmosphere
• resigned from the controversial Global Climate Coalition in February 2000
• one of seven companies to launch a US$20 million research project (CCP) to explore CO2 capture technologies
• is a partner in the Darajat Geothermal Project in India, an initiative that will reduce emissions by approximately 100,000 tonnes CO2eq per annum

Texaco has undertaken a number initiatives in relation to fuel cells:

• formed Texaco Energy Systems Inc., a fuel-cells venture
• paid US$67.3 million for a 20% stake in a fuel-cell technologies company
• participant in the “California Fuel Cell Partnership — Driving For the Future,” a unique collaboration of industry and the State of California that will test fuel cell vehicles on California highways

Texaco has undertaken a number of initiatives to improve business efficiencies in:

• refining — utilizing cogeneration and other energy-saving technologies at refineries to reduce the fuel use index by over 13% since 1990
• power production through the integration of gasification processes with advanced combined-cycle power systems
• oil and gas production, through a variety of innovative technologies

Texaco and United Solar Systems Corp. recently announced an agreement between Texaco and Bekaert ECD Solar Systems LLC to design and install an environmentally friendly photovoltaic system for Texaco in California to be used in one of its oil fields, which will rank as one of the largest in the world.

Texaco and United Solar Systems Corp. recently announced an agreement between Texaco and Bekaert ECD Solar Systems LLC to design and install an environmentally friendly photovoltaic system for Texaco in California to be used in one of its oil fields, which will rank as one of the largest in the world.

Texaco continues to invest in renewable power projects, low emission power generation and the development of cleaner fuels.