financetom
Business
financetom
/
Business
/
Chevron to pay over $13 million in settlement for California oil spills
News World Market Environment Technology Personal Finance Politics Retail Business Economy Cryptocurrency Forex Stocks Market Commodities
Chevron to pay over $13 million in settlement for California oil spills
Mar 21, 2024 3:01 AM

March 21 (Reuters) - Chevron ( CVX ) will pay $13.1

million in settlement agreements with two California state

agencies for past oil spills in Kern County, Bakersfield, the

California natural resources agency said on Wednesday, as the

major oil producing state strengthens regulations.

Chevron ( CVX ), which has already paid for the cleanup costs for

its oil spills in 2019, will pay $5.6 million to the California

Department of Conservation, and $7.5 million to California

Department of Fish and Wildlife (CDFW), the agency said in a

statement.

Chevron ( CVX ) spilled a minimum of 800,000 gallons of oil and

water into a creek bed in Kern county in 2019, according to

local media.

The state agency's report says that this is the biggest fine

to date for the two departments in California.

"The settlements demonstrate our continuing commitment to

take action to address issues and prevent similar incidents in

the future," Chevron ( CVX ) said in an emailed response to Reuters.

Of the money collected, $5.6 million will go towards ongoing

work to plug old, orphaned wells and $7.5 million will go

towards environmental enhancement projects, oil wildlife

response preparedness and future spill response funding, the

report added.

CDFW documented over 70 oil spills between 2018 and 2023 in

Kern County attributable to Chevron ( CVX ), which accounted for more

than 446,600 gallons (10,633 barrels) of oil spilled, according

to the report.

As the most populous U.S. state fights against climate

change, oil giants Exxon and Chevron ( CVX ) have written down

$5 billion to impair existing assets in California. Official

remarks from both companies show their discontent with the

state's regulatory policies.

The state of California has seen multiple oil spills

starting from a devastating oil well blowout in Santa Barbara in

1969 to Amplify Energy's offshore spill in 2021 that required it

to pay $50 million in settlements.

Last year, the state

sued major oil companies

accusing them of playing down the risks posed by fossil

fuels, after

dozens of lawsuits

were filed in previous years against the industry across

the U.S.

Comments
Welcome to financetom comments! Please keep conversations courteous and on-topic. To fosterproductive and respectful conversations, you may see comments from our Community Managers.
Sign up to post
Sort by
Show More Comments
Related Articles >
Ramaco Resources Insider Sold Shares Worth $8,202,840, According to a Recent SEC Filing
Ramaco Resources Insider Sold Shares Worth $8,202,840, According to a Recent SEC Filing
Mar 25, 2026
04:15 AM EDT, 03/25/2026 (MT Newswires) -- Bryan H. Lawrence, Director, on March 20, 2026, sold 600,000 shares in Ramaco Resources ( METCB ) for $8,202,840. Following the Form 4 filing with the SEC, Lawrence has control over a total of 8,101,623 shares of the company, with 134,877 shares held directly and 7,966,746 controlled indirectly. SEC Filing: https://www.sec.gov/Archives/edgar/data/1687187/000114036126010980/xslF345X05/form4.xml ...
HSBC Holdings Reportedly Names Jack Yang as Asia, Middle East CFO
HSBC Holdings Reportedly Names Jack Yang as Asia, Middle East CFO
Mar 25, 2026
04:51 AM EDT, 03/25/2026 (MT Newswires) -- HSBC Holdings ( HSBC ) named Jack Yang as its finance chief for Asia and the Middle East, news outlets reported Wednesday. Yang will succeed Ming Lau, who transferred to Manulife Financial ( MFC ) , Bloomberg reported. HSBC Holdings ( HSBC ) did not immediately respond to MT Newswires' request for a...
Planet Labs Germany Starts Recruiting Staff for Satellite Production Site in Berlin
Planet Labs Germany Starts Recruiting Staff for Satellite Production Site in Berlin
Mar 25, 2026
04:59 AM EDT, 03/25/2026 (MT Newswires) -- Planet Labs' (PL) Planet Labs Germany said Wednesday it has started hiring staff to operate its upcoming satellite production site in Berlin. The positions include leadership and technical roles, Planet Labs Germany said, adding that additional roles in manufacturing, operations, and professional services will be open throughout this year. Planet Labs Germany said...
Diageo Unit to Sell Royal Challengers Sports Stake for $1.78 Billion; Shares Up Pre-Bell
Diageo Unit to Sell Royal Challengers Sports Stake for $1.78 Billion; Shares Up Pre-Bell
Mar 25, 2026
04:57 AM EDT, 03/25/2026 (MT Newswires) -- Diageo ( DEO ) unit United Spirits said Wednesday it has agreed to sell its entire equity stake in Royal Challengers Sports to a consortium including Blackstone's (BX) BXPE perpetual private equity strategy for 166.6 billion Indian rupees ($1.78 billion). Other consortium members include Aditya Birla Group, the Times of India Group, and...
Copyright 2023-2026 - www.financetom.com All Rights Reserved