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Houston trio lands on Time’s list of 10 most influential energy companies

making an impact

Fervo Energy's flagship Cape Station geothermal project is scheduled to start delivering power to the grid this year. Photo courtesy Fervo Energy

Three companies with headquarters in Houston made Time magazine’s new list of the 10 most influential energy companies.

The unranked list includes:

  • Houston-based oil and gas giant Chevron
  • Houston-based Fervo Energy, a geothermal power provider that just went public in a $1.9 billion IPO
  • Saudi Aramco, the world’s largest oil company, whose U.S. headquarters is in Houston

In naming Chevron to the list, Time cites the company’s standing as the only major American oil company operating in Venezuela. Time says Chevron wields “extraordinary power” over Venezuela’s massive oil reserves.

Despite pressure from the White House on U.S. oil and gas producers to ramp up investments in Venezuela, “Chevron has pumped the brakes, pledging to boost output gradually and not chase price fluctuations,” Time says.

“Chevron has been in Venezuela for over a century,” CEO Mike Wirth told shareholders in January. “We remain committed to leveraging our deep expertise and long-standing partnerships for the benefit of our shareholders and the people of Venezuela.”

Time points out that Fervo sits “at the front of the pack” in generation of geothermal energy. The Houston-based company uses fracking techniques borrowed from the oil and gas industry to create underground hot-rock reservoirs that heat water to generate electricity.

Fervo’s Cape Station in Utah is scheduled to start delivering power to the grid this year. At full capacity of 500 megawatts, it will be the first large-scale commercial geothermal plant in the U.S. Time says another site in Utah, Project Blanford, is Fervo’s hottest well yet, highlighting the potential for harnessing geothermal heat for at-scale clean energy.

“It’s hard to find something that can [deliver] reliable 24/7 energy, that’s carbon-free, and can be constructed in a timely manner,” Fervo CEO Tim Latimer said. “It’s energy without a lot of the compromises.”

Government-owned Saudi Aramco, which last year earned $104.7 billion in profit, not only is a dominant player in the Mideast oil and gas sector, but Time says it holds “global clout in politics and business” that reaches far beyond oilfields. For example, the company finances big projects spearheaded by Crown Prince Mohammad Bin Salman, who chairs Saudi Arabia’s sovereign wealth fund. These include initiatives in global sports, tourism, and AI.
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U.S. Secretary of the Interior Doug Burgum and U.S. Secretary of Energy Chris Wright will return to CERAWeek this month, along with dozens of energy executives and innovators. Photos courtesy CERAWeek.

CERAWeek 2026 to bring energy leaders to Houston to discuss tech and geopolitics

where to be

CERAWeek returns this month, March 23-27, and will once again bring leading energy executives and government officials to Houston.

The 44th annual event will again host U.S. Secretary of Energy Chris Wright and U.S. Secretary of the Interior Doug Burgum.

Wright will participate in a plenary session focused on energy policy with Daniel Yergin, conference chair and vice chairman of S&P Global, on March 23. The following day, he will be featured in the Celebrating 10 Years of U.S. LNG reception with Jack Fusso, president and CEO, of Cheniere Energy. Both events are part of the Executive Conference track.

Burgum will participate in a leadership dialogue plenary session with Yergin on March 25. It is also part of the Executive Conference track. Burgum is also chairman of the National Energy Dominance Council, established by President Trump in 2025.

Top energy executives, many of whom are based in Houston, will also be featured prominently at the week-long event. Other speakers include:

  • Bill Blevins, director of grid coordination for the Electric Reliability Council of Texas (ERCOT)
  • Trevor Best, CEO of Syzygy Plasmonics
  • Marie Contour Carrere, executive director of the Rice Sustainability Institute
  • Ryan DuChanois, co-founder and CEO of Solidec
  • Reginald DesRoches, president of Rice University
  • Georgina Campbell Flatter, CEO of Greentown Labs
  • Jim Fitterling, chair and CEO of Dow Inc.
  • Vicki Hollub, CEO of Occidental Petroleum Corp.
  • Renu Katon, chancellor and president of the University of Houston
  • Ryan Lance, chairman and CEO of ConocoPhillips
  • Olivier Le Peuch, CEO of SLB
  • Patrick Pouyanné, chairman and CEO of TotalEnergies SE
  • Adrian Tromel, chief innovation officer and interim VP for Innovation at Rice University
  • Bobby Tudor, founder and CEO of Artemis Energy Partners and chairman of HETI
  • Wael Sawan, CEO of Shell plc
  • Lorenzo Simonelli, chairman and CEO of Baker Hughes Co.
  • Mike Wirth, chairman and CEO of Chevron Corp.
  • Jeremy Pitts, managing director of Activate Houston
  • And many others

This year, CERAWeek will center around the theme of Convergence and Competition: Energy, Technology and Geopolitics.

"Change is inescapable," Yergin said in a news release. "The global energy landscape—and to a large extent the entire global economy—is being fundamentally reshaped by the dual forces of convergence and competition. The race for AI is fusing the energy and technology industries like never before, bringing into sharp relief the need to align energy expansion with sustainable economic growth."

"Yet, the potential for collaboration and innovation is increasingly matched by the risk for collision and conflict in a world marked by geopolitical rivalry, tariffs and fragmented supply chains," he continued. "Reconciling an increasingly complex world with the growing demand for energy that is stable, secure and affordable is a complex reality that CERAWeek 2026 will tackle when global energy leaders meet in Houston."

Key topics of discussion will include:

  • Politics, Economics, Trade and Supply Chains
  • Policy, Regulations and Stakeholders
  • Oil Value Chain
  • Power, Renewables, Generation and Grid
  • AI and Digital
  • Minerals and Mining
  • Electrification Technologies
  • Investment and Financing
  • Chemicals and Materials
  • Business Strategies
  • The Innovation Ecosystem
  • Managing Emissions
  • Low-Carbon Fuels and Mobility
  • Climate and Sustainability
  • Workforce Strategy

The CERAWeek Innovation Agora track, which is the program's deeper dive into technology and innovation, will feature thought leadership on "AI, decarbonization, low carbon fuels, cybersecurity, hydrogen, nuclear, mining and minerals, mobility, automation and more," according to the release.

Agora Hubs will return this year and be divided into three zones: new energies, carbon and climate, and AI. The hubs will feature amphitheater-style sessions and panels. Agora Pods will allow energy startups to showcase their ideas in 20- to 30-minute presentations.

Additionally, CERAWeek will introduce a new program this year on Friday, March 27. Known as Look Forward, it will focus on economics, politics and technology.

See the full agenda for the week here. Find more information and register for the event here.

Chevron operates nine biodiesel plants around the world. Photo via Unsplash.

Chevron CEO touts biofuels as part of its renewable energy efforts

Betting on biofuels

As Chevron Chairman and CEO Mike Wirth surveys the renewable energy landscape, he sees the most potential in biofuels.

At a recent WSJ CEO Council event, Wirth put a particular emphasis on biofuels—the most established form of renewable energy—among the mix of low-carbon energy sources. According to Biofuels International, Chevron operates nine biorefineries around the world.

Biofuels are made from fats and oils, such as canola oil, soybean oil and used cooking oil.

At Chevron’s renewable diesel plant in Geismar, Louisiana, a recent expansion boosted annual production by 278 percent — from 90 million gallons to 340 million gallons. To drive innovation in the low-carbon-fuels sector, Chevron opened a technology center this summer at its renewable energy campus in Ames, Iowa.

Across the board, Chevron has earmarked $8 billion to advance its low-carbon business by 2028.

In addition to biofuels, Chevron’s low-carbon strategy includes hydrogen, although Wirth said hydrogen “is proving to be very difficult” because “you’re fighting the laws of thermodynamics.”

Nonetheless, Chevron is heavily invested in the hydrogen market:

As for geothermal energy, Wirth said it shows “some real promise.” Chevron’s plans for this segment of the renewable energy industry include a 20-megawatt geothermal pilot project in Northern California, according to the California Community Choice Association. The project is part of an initiative that aims to eventually produce 600 megawatts of geothermal energy.

What about solar and wind power?

“We start with things where we have some reason to believe we can create shareholder value, where we’ve got skills and competency, so we didn’t go into wind or solar because we’re not a turbine manufacturer installing wind and solar,” he said in remarks reported by The Wall Street Journal.

In a September interview with The New York Times, Wirth touched on Chevron’s green energy capabilities.

“We are investing in new technologies, like hydrogen, carbon capture and storage, lithium and renewable fuels,” Wirth said. “They are growing fast but off a very small base. We need to do things that meet demand as it exists and then evolve as demand evolves.”

Houston-area executives, including ExxonMobil Corp. CEO Darren Woods, have claimed spots on Fortune’s list of the 100 Most Powerful People in Business. Photo via Getty Images.

2 Houston energy execs among Fortune’s most powerful people in business

power people

Two Houston-area energy executives have been named to Fortune’s list of the 100 Most Powerful People in Business.

Darren Woods, chairman and CEO of ExxonMobil Corp., appears at No. 34 on the list, and Mike Wirth, chairman and CEO of Chevron Corp., lands at No. 90. Woods showed up on last year’s inaugural list, while Wirth debuted on the list this year.

Woods assumed the top job at Spring-based ExxonMobil in 2017.

“Woods worked his way up through the ranks of the oil giant, first serving as a planning analyst in 1992, and later as vice president and senior vice president,” according to Fortune.

Under Woods’ watch, ExxonMobil has grown substantially. For instance, the company wrapped up its nearly $60 billion acquisition of Dallas-based oil and gas exploration and production company Pioneer Natural Resources in 2024.

Last year, ExxonMobil posted revenue of nearly $350 billion. The company relocated its headquarters to Spring from the Dallas-Fort Worth suburb of Irving in 2023.

Wirth became chairman and CEO of Houston-based Chevron in 2018.

“While Chevron continues to grow its oil and gas business from West Texas to Kazakhstan, the company is investing more in hydrogen, renewable fuels and sustainable aviation fuel, carbon capture, and, most recently, lithium extraction,” according to Fortune.

In terms of revenue, Chevron is the country’s second-largest oil and gas company, behind ExxonMobil. Last year, Chevron posted revenue of almost $202.8 billion.

With Wirth at the helm, Chevron has expanded its footprint. In July, for example, the company completed its $53 billion acquisition of New York City-based energy company Hess Corp. The deal, announced in October 2023, was delayed by a now-resolved legal battle against ExxonMobil and China National Offshore Oil Corp. over Hess’ plentiful oil assets in Guyana.

In 2024, Chevron announced it was moving its headquarters to Houston from Northern California.

Jensen Huang, president and CEO of Nvidia, claimed the No. 1 spot. The technology company announced plans to produce AI supercomputers at a Houston-area factory earlier this year.

Chevron, Engine No. 1 and GE Vernova will develop power plants that allow for the future integration of lower-carbon solutions to support AI-focused data centers. Photo via Getty Images

Chevron and partners to develop innovative power plants to support AI-focused data centers

power partners

Houston-based Chevron U.S.A. Inc., San Francisco investment firm Engine No. 1, and Boston electric service company GE Vernova have announced a partnership to create natural gas power plants in the United States. These plants support the increased demand for electricity at data centers, specifically those developing artificial intelligence solutions.

“The data centers needed to scale AI require massive amounts of 24/7 power. Meeting this demand is forecasted to require significant investment in power generation capacity, while managing carbon emissions and mitigating the risk of grid destabilization,” Chevron CEO Mike Wirth, shared in a LinkedIn post.

The companies say the plants, known as “power foundries,” are expected to deliver up to four gigawatts, equal to powering 3 million to 3.5 million U.S. homes, by the end of 2027, with possible project expansion. Their design will allow for the future integration of lower-carbon solutions, such as carbon capture and storage and renewable energy resources.

They are expected to leverage seven GE Vernova 7HA natural gas turbines, which will serve co-located data centers in the Southeast, Midwest and West. The exact locations have yet to be specified.

“Energy is the key to America’s AI dominance, “ Chris James, founder and chief investment officer of investment firm Engine No. 1, said in a news release. “By using abundant domestic natural gas to generate electricity directly connected to data centers, we can secure AI leadership, drive productivity gains across our economy and restore America’s standing as an industrial superpower. This partnership with Chevron and GE Vernova addresses the biggest energy challenge we face.”

According to the companies, the projects offer cost-effective and scalable solutions for growth in electrical demand while avoiding burdening the existing electrical grid. The companies plan to also use the foundries to sell surplus power to the U.S. power grid in the future.

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Fervo promotes strategy leader to COO as flagship geothermal project nears launch

new leader

Houston geothermal unicorn Fervo Energy has named Sarah Jewett as its new COO.

Jewett steps into the role as the company prepares for its flagship Cape Station geothermal project to deliver its first power later this year.

Jewett joined Fervo in 2020 as director of strategy and most recently served as the company's senior vice president of strategy. She spoke with HETI on the potential of geothermal energy in 2024.

Before Fervo, Jewett served as senior director of corporate development for Houston-based Select Energy Services. She ran hydraulic fracturing crews for Schlumberger in the Permian Basin and Alaska's North Slope early in her career.

In the COO role, Jewett is tasked with creating "the centralized infrastructure required to execute on what the company believes is the most significant commercial opportunity for clean, firm power in history," according to a company release.

“What Sarah has built over the last six years has been foundational to the company’s success. From the time she joined, she has brought an unwavering people-first mindset and outstanding dedication to building things that last,” Tim Latimer, CEO and co-founder of Fervo, added in the release. “As we move into the next phase of our growth, there is no better person to lead the operating core of this company.”

Jewett holds an MBA from Harvard Business School and a bachelor's degree in mechanical engineering from Dartmouth College.

Fervo announced the addition of four heavyweights to its board of directors this spring, including Meg Whitman, former CEO of eBay, Hewlett-Packard, and Spring-based HPE. Shortly after, the company filed for its highly anticipated $1 billion-plus IPO. Read more here.

UH study finds Gulf Coast best positioned for emerging carbon removal technology

coastal impact

The Gulf Coast is an ideal spot for deploying a new ocean-based carbon removal technology that uses seawater to capture and store carbon dioxide, according to a new study from the University of Houston.

The study was led by UH Cullen College of Engineering Professor Mim Rahimi and published in Nature’s Communications Sustainability journal. Abdelrahman Refaie, a PhD student at UH, authored the paper. It aimed to develop a plan for implementing an electrochemical marine carbon dioxide removal (e-mCDR) technology that treats seawater to increase the ocean’s ability to absorb and store carbon dioxide from the air.

Currently, oceans absorb about 30 percent of human-produced carbon dioxide emissions each year, according to UH, making it a great natural resource for carbon removal.

The team at UH scouted and analyzed 38 coastal facilities across the U.S.—including power plants, desalination plants, and liquefied natural gas (LNG) terminals—before determining the Gulf Coast as an attractive option. The South Hub, or the Gulf Coast along Texas and Louisiana, ranked the top-performing area for the technology due to the industrial infrastructure, affordable electricity, hydrogen transportation and storage networks.

Other regions like California and the Northeast also scored well due to their clean energy mix and carbon removal potential, according to UH.

“The South hub has one of the highest diversity factors between power plants, desalination and LNG,” Refaie said in a news release. “That means if, logistically, down the road LNG is not open for this implementation, then we have another option in the area. It reduces the risk factor.”

UH says the findings show how companies could commercialize the technology, which could boost coastal economies.

“The question we had wasn’t technical, rather, it was logistical in regard to implementation down the road,” Rahimi said. “This would be a roadmap if a company or the government wants to utilize this technology.”

Rahimi aims to increase awareness about e-mCDR technology and its potential impact. He recently discussed the ocean-centric carbon removal work with members of Congress in March at the Carbon to Sea’s 2026 Hill Day.

“I think faculty at the University of Houston can do more of this kind of work,” Rahimi said in a separate release. “Meeting with Members of Congress gives us a chance to help policymakers better understand the science and engineering happening at our university. That kind of engagement is an important part of moving new technologies forward. It also shows how the work we do on campus can have a real impact on communities beyond the university.”

The latest Houston energy breakthroughs + more top headlines for June

Trending News

Editor's note: June brings exciting news in the energy transition sector, from major milestones in clean energy production for Cemvita and Merichem to the release of the 2026 Fortune 500 list. Below are the five most-read stories published on EnergyCapitalHTX from June 1-14, 2026:

1. Houston startup strikes deal to develop hydrogen production plant in Canada

Houston-based cleantech startup Vema Hydrogen has reached a tentative agreement with Canada-based CHARBONE Corp. to develop a hydrogen production and processing plant in Québec. The deal would couple Vema’s production of engineered mineral hydrogen with CHARBONE’s purification, compression and distribution capabilities. Engineered mineral hydrogen, also known as orange hydrogen, is produced underground by accelerating naturally occurring geochemical reactions in iron-rich rock formations. Continue reading.

2. Cemvita reaches breakthrough in sustainable fuel feedstock production

Houston-based biotech company Cemvita announced that it recently reached a critical milestone in the development of its FermOil product, which can be used to create Sustainable Aviation Fuel (SAF) and other renewable fuels at industrial scale. The company completed a 75,000-liter industrial fermentation run at Belgium's Bio Base Europe Pilot Plant. The campaign achieved target technical metrics for the production of FermOil, Cemvita’s renewable natural oil (RNO). Continue reading.

3. Houston chemical co. completes successful field trial of cleaner natural gas processing tech

Houston-based Merichem Technologies has announced successful results from the field trial of its new hydrogen sulfide (H2S) removal technology in the Permian Basin. The technology, known as ECOTREAT, removed more than 99 percent of hydrogen sulfide gas from natural gas streams, or “sour gas,” without producing solid waste during the month-long trial. It also showed sustained performance even when operating above the unit’s design capacity. Continue reading.

4. 6+ must-attend Houston energy transition events for June 2026

Editor's note: Summer is here, and June brings a slate of must-attend events for those in the energy transition sector. The month continues with EPC Show and InnovateEnergy Week. Mark your calendars and register now. Continue reading.

5. Houston lands 27 Fortune 500 headquarters, led by energy heavyweights

Houston is a giant among U.S. hubs for corporate headquarters. The 2026 Fortune 500 lists 27 companies based in the Houston area, with many energy companies claiming top spots. Houston ties with Chicago for the second-most Fortune 500 headquarters, preceded only by New York City (53). Dallas-Fort Worth is home to 23 Fortune 500 headquarters. Texas leads the nation for Fortune 500 headquarters (57), with California in the No. 2 spot and New York at No. 3. Continue reading.

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