Chevron Hit With $1 Million Penalty Over Invalid Clean Fuel Credits [Yahoo! Finance]
Chevron Corporation (CVX)
Last chevron corporation earnings: 5/1 06:45 am
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Source: Yahoo! Finance
On Wednesday, Chevron Corp. agreed to a settlement with the U.S. Department of Justice (DOJ) to resolve alleged violations tied to renewable fuel credits under the Clean Air Act's Renewable Fuel Standard program. Regulatory Settlement Impact Chevron agreed to pay a civil penalty of just over $1 million. To remediate the violation, it retired over 2 million renewable fuel credits valued at about $3.6 million. The DOJ said Chevron disclosed in June 2023 that from January 2022 through August 2022, it had invalidly generated over 2.2 million advanced biofuel production credits (Renewable Identification Numbers, or RINs). Don't Miss: Bad Ads Live Forever — See How This AI Helps Fortune 1000 Brands Avoid Them This Energy Storage Company Already Has $185M in Contracts—Shares Are Still Available These credits were on renewable diesel that had previously been used for RIN generation and sold to third parties. The DOJ framed the settlement as protecting the integrity of the RFS
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News
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- Chevron (CVX) had its price target raised by Barclays PLC from $172.00 to $180.00. They now have an "equal weight" rating on the stock.MarketBeat
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- Barclays Raises PT on Chevron Corporation (CVX) to $180 From $172 – Here's Why [Yahoo! Finance]Yahoo! Finance
CVX
Earnings
- 1/30/26 - Beat
CVX
Sec Filings
- 3/10/26 - Form 4
- 3/6/26 - Form 144
- 3/4/26 - Form 3
- CVX's page on the SEC website