Chevron Soars 3.39% on Renewable Fuel Partnership

On June 13, 2025, Chevron's stock rose by 3.39% in pre-market trading, reflecting a positive sentiment among investors.

Chevron's strategic partnership with Neste, a leading technology provider in renewable and traditional transportation fuels, has reached a significant milestone. The collaboration aims to develop a new technology that converts wood-based biomass into high-quality, low-emission renewable fuels, such as sustainable aviation fuel (SAF) and renewable diesel. The initial trial results have shown substantial performance improvements over existing technologies, and the companies are now validating the technology for commercial-scale expansion.

This partnership leverages Neste's pioneering expertise in renewable fuels and Chevron Lummus Global's (CLG) extensive experience in developing and licensing market-leading refining technologies. The successful concept validation marks a crucial step in the effort to commercialize the production of renewable fuels from abundant but technically challenging wood-based biomass. This initiative is expected to contribute significantly to meeting the growing demand for renewable fuels and achieving ambitious greenhouse gas reduction targets.