Chevron Corp. said Monday it's started a joint oil-shale research project with Los Alamos National Laboratory in New Mexico.
San Ramon-based Chevron (NYSE: CVX) has about 59,000 workers and pulled in a profit of $4.4 billion in the quarter ended June.
Oil-shale plan advances
The federal government has taken a step toward approving the reopening of an oil-shale mine in Utah, one of four experimental works on Western lands that are intended to boost domestic oil production.
In Colorado, three oil companies won environmental clearance in August for their plans to start producing shale oil by heating layers of rock using electric oven-like elements, steam injection or hot natural gas.
In Colorado, the BLM declared projects by Shell Frontier Oil and Gas Inc., Chevron USA Inc. and Midland, Texas-based EGL Resources Inc. would have no significant environmental impact.
Kohler, however, said there was little doubt approval would follow in Utah because sections of the report found little or no environmental damage would result from reopening a working mine.
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