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Chevron To Pay Richmond $550M Over 10 Years, Avoids New Refinery Tax

Chevron Corporation (NYSE:CVX) shares are trading higher Thursday. According to a city statement, the company will reportedly pay the Richmond City Council $550 million over 10 years. The company will pay the $550 million in annual installments from July 1, 2025, to June 30, 2035, reported Reuters. This is part of an agreement that led to the dropping of a proposed ballot measure for a new tax on the company’s Richmond ...