Chevron Taps Permian Chief to Run New Low-Carbon Division
- North America head Gustavson takes new role reporting to CEO
- Division to focus on carbon capture, hydrogen, biofuels
Photographer: Cooper Neill/Bloomberg
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Chevron Corp. is creating a new business division focused on scaling up new technologies such as carbon capture and hydrogen, the latest example of how Big Oil is positioning for the energy transition.
Jeff Gustavson, 49, will become president of the unit, called Chevron New Energies, effective Aug. 2, the U.S. oil giant said Thursday in a statement. He’s currently vice president of the company’s North America exploration and production business, and oversees Chevron’s operations in the Permian Basin, where it’s one of the biggest producers. Ryder Booth, 52, will succeed Gustavson in those positions.