Oil & Gas - Energy - Commodities - Resources (OILBRENT)

[eFinanceMarkets]

$CVX Chevron (CVX +0.6%) could face tougher emissions requirements at its Wheatstone LNG project in Western Australia after the state conducts a review of environmental conditions.

The project's original 2011 approval terms, which required Wheatstone to offset 2.6M metric tons/year of reservoir carbon dioxide emissions, were waived after the Clean Energy Act took effect in 2012, but the state regulator "will now carry out an inquiry into the current greenhouse gas condition placed on the project to ensure it is in line with contemporary best practice."

CVX says it objects to the move, noting that Wheatstone's emissions already are regulated by the Australian government.