Chevron (CVX) to Pay Settlement Worth $13M for Oil Spills [Yahoo! Finance]
Chevron Corporation (CVX)
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Source: Yahoo! Finance
This penalty reflects the California Department of Conservation's commitment to environmental protection and holds oil companies accountable for their actions. Kern County Oil Spill: A Devastating Incident One of the most significant fines imposed on Chevron is associated with a devastating oil spill in Kern County in 2019. The spill, which dumped over 800,000 gallons (3 million liters) of oil and water into a canyon, shook the core of the state's oil industry. While Chevron has already undertaken the cleanup efforts for this spill, it now faces a $5.6-million fine, marking a substantial punitive measure. Multiple Spills and Environmental Impact In addition to the Kern County incident, Chevron has agreed to pay a $7.5-million fine for more than 70 smaller spills that occurred between 2018 and 2023. These spills collectively resulted in the release of over 446,000 gallons (1.6 million liters) of oil and significant environmental damage. The spills not only impacted wildlife
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CVX
Earnings
- 4/26/24 - Beat
CVX
Sec Filings
- 4/26/24 - Form 424B3
- 4/26/24 - Form 8-K
- 4/25/24 - Form 144
- CVX's page on the SEC website