Chevron 2006 Annual Report Download - page 25

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Chevron’s three technology companies — Energy Technology, Technology Ventures
and Information Technology — support the strategies of our core businesses and are
engaged in developing technology to enable our most promising future opportuni-
ties. Two new technology centers are being established in Australia and Scotland to
complement existing centers in California and Texas. The centers provide research,
development and technical support to our global businesses.
Technology
and other businesses
In 2006, we formed a biofuels business unit to
advance technology and pursue commercial oppor-
tunities in ethanol and biodiesel fuels in the United
States. As part of this effort, we acquired an interest
in a biodiesel facility being built in Galveston, Texas,
and we forged two research alliances — with the
Georgia Institute of Technology and the University
of California, Davis — to develop advanced cellulosic
biofuels. We also established a research alliance with
the U.S. Department of Energy’s National Renewable
Energy Laboratory to advance the development of
renewable transportation fuels. Another collabora-
tion with General Motors, the state of California and
Pacifi c Ethanol will study in depth the performance
of E85, a blend of 85 percent ethanol and 15 percent
gasoline, as a clean, high-performing fuel.
OTHER BUSINESSES Chevron is engaged in a
number of other businesses across the energy value
chain. Our 50-50 joint venture Chevron Phillips
Chemical Company LLC is one of the world’s leading
manufacturers of petrochemicals. Chevron Oronite
markets more than 500 performance-enhancing
products and supplies one-fourth of the world’s fuel
and lubricant additives. Global Power Generation
develops and markets commercial power projects
worldwide. Chevron Energy Solutions delivers
energy-effi ciency and power-system solutions to
external and internal clients (see Page 12). For more
information about the businesses of Chevron, visit
our Web site: www.chevron.com.
To help us operate at world-class
levels, we have systematic oper-
ational excellence processes
integrated into every aspect of our
business. Our Operational Excellence
Management System helps us pro-
tect people and the environment
and maintain our reputation as a reli-
able and effi cient energy provider.
Safety is our highest priority. For
the fi fth consecutive year, we im-
proved our safety performance and
reduced the rate of injuries severe
enough to require days away from
work by 25 percent compared with
2005. Our safety performance is
among the top in the industry, and
we continue to move toward world-
class performance.
Our environmental performance
also continued to improve. In 2006,
we had 5 percent fewer oil spills,
and volumes were signifi cantly lower
than in previous years. During the
year, we also continued to generate
greater energy effi ciencies in our
operations (see Page 12).
OPERATIONAL EXCELLENCE
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