\nChevron Technical Center, a division of Chevron U.S.A. Inc., a subsidiary of Chevron Corporation (NYSE:CVX), and ZL Chemicals Ltd today announced a technology licensing agreement under which ZL may commercialize Chevron-developed chemical surfactant technology. ZL plans to offer products and services utilizing the licensed technology under the Vantis\u2122 brand.<\/p>\n
\nChevron has developed and applied advanced surfactant technology to improve resource recovery in unconventional reservoirs. This licensing agreement enables an opportunity for broader commercial deployment of this technology.<\/p>\n
\n\u201cTechnology creates more value when it can be applied broadly,\u201d said Ryder Booth, chief technology and engineering officer of Chevron Corporation. \u201cAdvanced chemicals are one of Chevron\u2019s areas of differentiation and have supported innovation in our own operations. Through this licensing agreement, we\u2019re creating a pathway for ZL to bring this technology to a broader market, and at scale.\u201d<\/p>\n
\nUnder the agreement, ZL will commercialize and market products and services under the Vantis\u2122 brand utilizing the licensed technology. The Vantis\u2122 product offering is expected to support applications in shale and tight reservoirs, including base well enhanced oil recovery programs and new well-optimization efforts.<\/p>\n
\n“We are pleased to work with Chevron to expand access to thistechnology across a broader customer base,” said Echo Liu, President of ZL Chemicals. “At ZL Chemicals, we are focused on delivering enhanced oil recovery chemistry and field services designed to support operators\u2019 production and reservoir management objectives. Vantis\u2122 represents the type of technology our customers are seeking, and we are positioned to deliver it as a scalable, turnkey service \u2014 from lab evaluation and QA\/QC through application design, on-site deployment, and field execution. We look forward to supporting operators in their efforts to enhance recovery and extend the productive life of their assets across shale and tight reservoirs.”<\/p>\n
\nThe agreement combines Chevron\u2019s technology development expertise with ZL\u2019s commercial capabilities and customer relationships. Chevron will continue developing next-gen advanced surfactant technology for its business, while ZL will commercialize products and services using the technology licensed under this agreement.<\/p>\n
About Chevron<\/b><\/p>\n
\nChevron is one of the world\u2019s leading integrated energy companies. We believe affordable, reliable and ever-cleaner energy is essential to enabling human progress. Chevron produces crude oil and natural gas; manufactures transportation fuels, lubricants, petrochemicals and additives; and develops technologies that enhance our business and the industry. We aim to grow our oil and gas business, lower the carbon intensity of operations, and grow new energies businesses. More information about Chevron is available at www.chevron.com<\/a>.<\/p>\n About ZL<\/b><\/p>\n \nZL Chemicals is a global leader in enhanced oil recovery chemistry, delivering innovative chemical technologies and field services that help operators maximize production, improve operational efficiency, and reduce environmental impact across the oil and gas industry. ZL’s integrated portfolio spans EOR chemical solutions \u2014 including polymer and surfactant systems \u2014 engineered deployment technologies, and full-scope field service, from application design and on-site dosing through long-term injection and treatment programs. By combining in-house R&D, manufacturing, and field execution in a single source, ZL partners with operators worldwide to deliver chemistry that performs where it matters most: at the wellsite. More information about ZL Chemicals is available at www.zlpam.com<\/a>.<\/p>\n NOTICE<\/i><\/p>\n As used in this news release, the term \u201cChevron\u201d and such terms as \u201cthe company,\u201d \u201cthe corporation,\u201d \u201cour,\u201d \u201cwe,\u201d \u201cus\u201d and \u201cits\u201d may refer to Chevron Corporation, one or more of its consolidated subsidiaries, or to all of them taken as a whole. All of these terms are used for convenience only and are not intended as a precise description of any of the separate companies, each of which manages its own affairs.<\/i><\/p>\n CAUTIONARY STATEMENTS RELEVANT TO FORWARD-LOOKING INFORMATION FOR THE PURPOSE OF “SAFE HARBOR” PROVISIONS OF THE PRIVATE SECURITIES LITIGATION REFORM ACT OF 1995<\/i><\/p>\n This news release contains forward-looking statements relating to Chevron\u2019s operations, assets and strategy that are based on management\u2019s current expectations, estimates, and projections about the petroleum, chemicals, and other energy-related industries. Words or phrases such as \u201canticipates,\u201d \u201cexpects,\u201d \u201cintends,\u201d \u201cplans,\u201d \u201ctargets,\u201d \u201cadvances,\u201d \u201ccommits,\u201d \u201cdrives,\u201d \u201caims,\u201d \u201cforecasts,\u201d \u201cprojects,\u201d \u201cbelieves,\u201d \u201capproaches,\u201d \u201cseeks,\u201d \u201cschedules,\u201d \u201cestimates,\u201d \u201cpositions,\u201d \u201cpursues,\u201d \u201cprogress,\u201d \u201cdesign,\u201d \u201cenable,\u201d \u201cmay,\u201d \u201ccan,\u201d \u201ccould,\u201d \u201cshould,\u201d \u201cwill,\u201d \u201cbudgets,\u201d \u201coutlook,\u201d \u201ctrends,\u201d \u201cguidance,\u201d \u201cfocus,\u201d \u201con track,\u201d \u201ctrajectory,\u201d \u201cgoals,\u201d \u201cobjectives,\u201d \u201cstrategies,\u201d \u201copportunities,\u201d \u201cpoised,\u201d \u201cpotential,\u201d \u201cambitions,\u201d \u201cfuture,\u201d \u201caspires\u201d and similar expressions, and variations or negatives of these words, are intended to identify such forward-looking statements, but not all forward-looking statements include such words. These statements are not guarantees of future performance and are subject to numerous risks, uncertainties and other factors, many of which are beyond the company\u2019s control and are difficult to predict. Therefore, actual outcomes and results may differ materially from what is expressed or forecasted in such forward-looking statements. The reader should not place undue reliance on these forward-looking statements, which speak only as of the date of this news release. Unless legally required, Chevron undertakes no obligation to update publicly any forward-looking statements, whether as a result of new information, future events or otherwise.<\/i><\/p>\n Among the important factors that could cause actual results to differ materially from those in the forward-looking statements are: changing crude oil and natural gas prices and demand for the company\u2019s products, and production curtailments due to market conditions; crude oil production quotas or other actions that might be imposed by the Organization of Petroleum Exporting Countries and other producing countries; technological advancements; changes to government policies in the countries in which the company operates; public health crises, such as pandemics and epidemics, and any related government policies and actions; disruptions in the company\u2019s global supply chain, including supply chain constraints and escalation of the cost of goods and services; changing economic, regulatory and political environments in the various countries in which the company operates, including Venezuela; general domestic and international economic, market and political conditions, including the conflict between Russia and Ukraine, the ongoing conflict in the Middle East and the global response to these hostilities; changing refining, marketing and chemicals margins; the amount and timing of settlements on the company\u2019s commodity derivative contracts; the company\u2019s ability to realize anticipated cost savings and efficiencies associated with enterprise structural cost reduction initiatives; actions of competitors or regulators; timing of exploration expenses; changes in projected future cash flows; timing of crude oil liftings; uncertainties about the estimated quantities of crude oil, natural gas liquids and natural gas reserves; the competitiveness of alternate-energy sources or product substitutes; pace and scale of the development of large carbon capture and storage and offset markets; the results of operations and financial condition of the company\u2019s suppliers, vendors, partners and equity affiliates; the inability or failure of the company\u2019s joint-venture partners to fund their share of operations and development activities; the potential failure to achieve expected net production from existing and future crude oil and natural gas development projects; potential delays in the development, construction or start-up of planned projects; the potential disruption or interruption of the company\u2019s operations due to war, accidents, political events, civil unrest, severe weather, cyber threats, terrorist acts, or other natural or human causes beyond the company\u2019s control; the potential liability for remedial actions or assessments under existing or future environmental regulations and litigation; significant operational, investment or product changes undertaken or required by existing or future environmental statutes and regulations, including international agreements and national or regional legislation and regulatory measures related to greenhouse gas emissions and climate change; the potential liability resulting from pending or future litigation; the company\u2019s ability to achieve the anticipated benefits from the acquisition of Hess Corporation; the company\u2019s future acquisitions or dispositions of assets or shares or the delay or failure of such transactions to close based on required closing conditions; the potential for gains and losses from asset dispositions or impairments; government mandated sales, divestitures, recapitalizations, taxes and tax audits, tariffs, sanctions, changes in fiscal terms or restrictions on scope of company operations; foreign currency movements compared with the U.S. dollar; higher inflation and related impacts; material reductions in corporate liquidity and access to debt markets; changes to the company\u2019s capital allocation strategies; the effects of changed accounting rules under generally accepted accounting principles promulgated by rule-setting bodies; the company\u2019s ability to identify and mitigate the risks and hazards inherent in operating in the global energy industry; and the factors set forth under the heading \u201cRisk Factors\u201d on pages 21 through 27 of the company\u2019s 2025 Annual Report on Form 10-K and in subsequent filings with the U.S. Securities and Exchange Commission. Other unpredictable or unknown factors not discussed in this news release could also have material adverse effects on forward-looking statements.<\/i><\/p>\n View source version on businesswire.com: <\/span>https:\/\/www.businesswire.com\/news\/home\/20260708344073\/en\/<\/a><\/span><\/p>\n Media Contact KEYWORDS:<\/b> United States North America Texas<\/p>\n INDUSTRY KEYWORDS:<\/b> Chemicals\/Plastics Energy Manufacturing Oil\/Gas<\/p>\n<\/p>\n
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Chevron:
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Allison Cook
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Acook@chevron.com<\/a><\/p>\n
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