Category: Auto

Chevron Reaffirms Strategies, Highlights Performance, Portfolio and Future Growth

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Chevron Corporation  is continuing to generate industry-leading operational and financial results and advancing key projects to drive future growth, executives said today at the company’s annual security analyst meeting in New York.

“World energy demand continues to grow and the outlook for the energy business remains excellent,” said John Watson, Chevron’s chairman and CEO.  Watson added, “Our strategies are sound, and we’re poised to deliver significant production growth through the end of the decade.  We believe this compelling growth profile, combined with flattening capital spending levels these next few years, should serve as a strong catalyst for value creation for our shareholders in the years ahead.”

George Kirkland, vice chairman and executive vice president, Upstream, reviewed the performance of Chevron’s upstream business in 2013, marking yet another year where the company led the industry on multiple upstream financial metrics including earnings and cash unit margins, as well as return on capital employed.  He also discussed some of the company’s portfolio management strategies and practices while highlighting key attributes of the portfolio, which included a special emphasis on the company’s Permian basin assets and future growth plans.

“Our upstream portfolio leads the industry in quality, breadth and depth.  We have the right strategies, always adhere to a disciplined investment approach, and are constantly managing the portfolio to extract and maximize value for our shareholders.  Our base business is performing exceptionally well and provides us a substantial, longer-term competitive advantage, driving continued peer-leading financial and operational performance.”

Jay Johnson, senior vice president, Upstream, provided an overview of Chevron’s queue of projects, exploration assets, and other long-term opportunities.  “Our plan for production growth is solid and will be driven by near-term project ramp-ups as well as our larger major capital projects which begin starting up later this year.”  Johnson added, “These projects are attractive, and when combined with profitable production growth from our shale and tight resource developments, are expected to add over 800,000 barrels of oil equivalent per day by 2017.  We also have a deep queue of other growth opportunities which should allow us to continue growing production to the end of the decade.”

Mike Wirth, executive vice president, Downstream and Chemicals, reviewed market fundamentals while highlighting business performance and future growth plans.  “Our strategy is to deliver competitive returns and grow earnings, including integration opportunities with our upstream business.”  Wirth added, “We have a focused refining and marketing portfolio with strategically located and competitive assets.  Our petrochemicals business leads its industry, and we continue to target profitable growth opportunities, primarily in chemicals and lubricants.”

Pat Yarrington, vice president and chief financial officer, highlighted Chevron’s continued financial strength, capital spending outlook, and asset divestment plans.  “Our objective is to reward our shareholders through both share price appreciation and higher dividends.  We’ve been able to sustain increasing shareholder distributions and, at the same time, reinvest for future growth.   We believe we’ve balanced these objectives well, and that our existing portfolio and new investment projects will support continued value growth for our shareholders,” Yarrington said.

Mitsubishi Motors PH launches the all new ASX

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Mitsubishi Motors Philippines Corp. (MMPC) launches a completely new vehicle from within its specialty SUV category. The all new ASX, or Active Sport Crossover, is an ideal compact crossover which achieves superior utility and running performance, excellent environmental efficiency and a refined interior and exterior in a compact size. Considered as a ‘little brother’ to the Outlander, the all new ASX measures 4295mm in length, 1770mm in width with an overall height of 1625mm and a ground clearance of 195mm. The all new ASX was also developed to respond to the growing concern for the environment as many consumers now are looking for a just the right size vehicle, fuel efficient, provides excellent driving pleasure and enhanced safety. The all new ASX is optimized to fulfill the role of a “Smart Life” vehicle, fitting perfectly into the lifestyle of each individual, whether for daily use or weekend getaways.

Exterior:
With its compact body the all-new ASX provides an attractive SUV-like design. The front mask carries “Jet fighter” grille which is similar to the Lancer EX, communicating Mitsubishi Motors’ design identity of sportiness and excitement. It has sporty, energetic exterior lines and a curving roof line with superior aerodynamics considering front, side and rear drag reduction to express a dynamic silhouette. Multiple LED brake lights at the rear provide superior visibility. The top-of-the-line GLS SE 4×4 has a 160-degree super wide range H.I.D. headlamps which sends out a broader beam of light, illuminating a much wider section of the road ahead. The front and rear lamps are extra wide which is designed to give a high-grade impression. All three ASX variants are equipped with a multi-spoke 17-inch aluminum wheels mounted with 215/60 R17 rubber.

Interior & Utility:
Driving pleasure has always been one of Mitsubishi Motors’ commitments to its customer. In fact, the all-new ASX features an interior that is ergonomically designed and yet boasts of style and elegance. A new inclusion for convenience is the top-of-the-line GLS SE 4×4′s Push Start/Stop Engine button. Steering wheel position now has tilt and telescopic adjustments to fit anyone’s preference. High Contrast gauges flank the multi-information meter that can show the trip meters, fuel economy, and average speed among others.

Providing superior mobile entertainment to the occupants is a 6.2 inch touch screen LCD monitor that has a built-in DVD/CD/MP3/WMA player with FM/AM tuner. The same headunit also provides GPS Navigation for the GLS and GLS SE models, handsfree Bluetooth pairing, plus iPod and USB connectivity. Keeping things cool for the three models is the automatic climate control.

Even with its compact size, the interior offers ample passenger room and cargo space. Five full-size adults can comfortably sit on the seats wrapped in sporty black 3D embossed fabric. Just in case you need to haul a lot of stuff, just fold flat the 2nd row seats and instantly 384 liters of available cargo capacity is provided. The easy opening tailgate is wide enough to provide ample space for even the bulkiest items and the low floor height makes it convenient to move heavy cargo in and out. An under-floor compartment is also included, giving you a handy storage space.

Performance:
The All-new ASX is powered by the same 4B11 2.0-liter engine found on the Lancer EX but retuned to match the ASX’ weight and specific drivetrain. Power output is now at 150 Ps at 6,000 rpm and torque at 197 N-m at 4,200 rpm thanks to the MIVEC or Mitsubishi Innovative Valve timing Electronic Control technology. Transmission options are the 5-speed manual transmission and the Continuously Variable Transmission or CVT with 6-speed Sportronic mode that could either be operated by the gearshift lever or the steering column mounted magnesium alloy paddle shifters. The GLS SE 4×4 gets a multi-mode 4WD system that can be controlled via a rotary knob located at the floor console which allows selection of three drivetrain mode settings:
2WD – only the front wheels are driven for best fuel economy on dry paved roads

4WD – automatically shifts up to 30% of the torque to the rear wheels for better traction on slippery surfaces

LOCK – torque shift to the rear wheels is increased to 50% on demand, to gain maximum traction in extreme weather conditions or in difficult terrain
The all-new ASX’ comfortable ride can be attributed to its wide track and long wheelbase coupled to a dependable MacPherson strut front suspension and a sophisticated rear multi-link set-up, secured by front and rear stabilizer bars, for stable and predictable handling. Electronic Power Assist not only makes the ASX easy to maneuver but more efficient by eliminating the extra engine load.

Safety:
The all-new ASX provides superior safety for all occupants. With the Reinforced Impact Safety Evolution (RISE) body design crush zones progressively crumble to absorb impact energy, and key structural areas direct energy away from the cabin. To keep occupants in every seat safe in the event of a collision, the ASX GLS SE is available with a 7-airbag system to provide protection from all sides. Curtain airbags extending along both sides protect front and 2nd-row occupants in a side collision, while the 1st-row occupants are additionally protected by front and side airbags. For further safety, a driver’s knee airbag helps to protect the legs in a forward collision. While the GLS and GLX versions are equipped with the dual stage SRS Airbags for both driver and front passenger.

All models come with Anti-lock Braking System with Electonic Brakeforce Distribution and Brake Assist to deliver the optimal braking performance under any situation.

A Hill Start Assist System (Hill Start Assist) is also standard on the ASX GLS SE. When starting on an upward slope, the HSA automatically holds the brakes for about 2 seconds after the driver releases the brake pedal and applies the accelerator, to prevent the vehicle from rolling backwards. Plus the GLS SE also comes with Active Stability Control or ASC to automatically control the brakes and power output to stabilize the car in the event of a detected lateral slippage.

Volvo Unveils the Volvo Concept Estate

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Volvo Car Group revealed at the Geneva Motor Show the third in a series of concept cars – the Concept Estate – that continues the widely-admired exterior design language revealed in the first two concepts, and for the first time revealed how the interior of Volvo’s forthcoming models will both look and function.

The Volvo Concept Estate’s most striking interior design feature is its simplicity. The traditional selection of buttons and controls have been replaced by one large tablet-like touch screen control panel in the centre console, bringing the interior firmly into the 21st century.

“The basic idea is to organize controls and information in a perfectly intuitive and user-friendly way. Everything is exactly where you expect it to be, making the drive more enjoyable, efficient and safe,” says Thomas Ingenlath, Senior Vice President Design at Volvo Car Group.

In association with Volvo’s specially designed software, the touch screen will be the main control panel for Volvo’s new in-car user experience. It replaces all buttons and controls except for a few crucial functions such as volume, play/pause, hazard warning and window heaters. It also interacts seamlessly with the digital instrument cluster in front of the driver.

“Not having to deal with buttons and controls for a growing number of functionalities is like being freed from a pair of handcuffs,” says Robin Page, Design Director Interior of Volvo Car Group. “This has made it possible to build a beautiful interior architecture around the portrait screen. The concept car showcases how this user interface will be integrated in our new car generation.”

Volvo is the company that redefined the Estate car by combining functionality, sturdiness and practicality with performance. The V70 and XC70 are among the most respected Estates on the market and the new Concept Estate points to how the company could capitalize on this heritage in its forthcoming models.

Volvo has been on a winning streak with its concept cars. The Concept Coupé was named ‘Car of the Show’ by a leading German auto magazine at the Frankfurt Motor Show, while the Concept XC Coupé received the prestigious ‘Eyes ON Design’ award at the Detroit Motor Show.

Global attention on Volvo’s concept cars has been intensifying as they provide the first significant clues as to how the all-new and much-anticipated XC90 SUV and subsequent cars will look. The XC90 is due to be launched later this year.

Learning from history

The rear of Concept Estate echoes the design of the Volvo 1800 ES from the early 1970s.

“The 1800-models are iconic Volvos, renowned for their beautiful forms and detailing. However, using elements from their exterior and interior has nothing to do with being retro. We are using these subtle links to a glorious past to create a future in which sheer beauty becomes a recognized part of Volvo’s identity,” says Thomas Ingenlath.

The subtle inspiration from the 1800-models is also evident on several details inside the Concept Estate, such as the two-spoke steering wheel, the instrument panel and the dials.

Robin Page explains: “The first four decades of the Volvo history was characterized by classic craftsmanship and high quality materials. We are merging this vital part of our brand DNA with the more recent focus on technology and smart functionality. In the Concept Estate we also add the creative side of Scandinavia. The result is an exotic interior with genuine materials and beautiful detailing.”

Beautiful and different

Applying this approach to the iconic estate car – which is the essence of versatile Volvo functionality – creates a car that is both beautiful and different.

The generous dash to axle ratio, low bonnet, sleek silhouette and the glass roof all contribute to the impression of a dynamic, yet capable three-door sports wagon. The contrast between the deep, dark brown pear colour and the bright five-spoke, 21-inch wheels contributes to the modern, cool aura.

Just like the recent Concept Coupé and the Concept XC Coupé, the face of the Volvo Concept Estate is characterized by a new topography on the bonnet and the ‘floating’ grille, flanked by headlights featuring new T-shaped DRL light guides. The rear light signature is another distinctive element in Volvo Cars’ new design direction.

Swedish inside and out

Extrovert and colorful trends within contemporary Swedish lifestyle and design have been powerful sources of inspiration for the design team. Occupants in all four seats are embraced by orange seat belts, and the exclusive, woven wool carpets from the Swedish designer Kasthall have the same deep accent color.

The crystal gear leaver from Orrefors/Kosta Boda also has an orange glow, while the chequered black and white wool textile on the headliner and rear sides of the front seats adds playfulness to the ‘room’.

“Creativity is thriving in Swedish society. This includes design and technology as well as the fashion, music and art scene. We have used all this as inspiration to create a new, exciting way to express Sweden’s soul,” says Thomas Ingenlath.

The feel of a Scandinavian living room

Refined, handcrafted details, such as an instrument panel covered by thick, naturally tanned saddle leather from Tärnsjö, inlays made of waxed, naturally aged wood and machined copper details, also emphasize the exclusive Swedish atmosphere inside Concept Estate.

“The interior is exceptionally vivid. Yet the glass roof and seats covered by light, soft Bridge of Weir leather help to retain that bright and cozy feeling that is the hallmark of a Swedish living room. A place that makes you feel so comfortable that you are reluctant to leave,” says Robin Page.

Free Vintage Bags from Shell Citi Card

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Apply for a Shell Citi Card and get two limited edition Shell bags! To avail of this offer, simply accumulate a minimum of P5,000 worth of Shell V-Power Nitro+ fuels purchase within 60 days from getting your first Citi card. Qualified cardholders will receive an SMS with a unique promotion code and instructions to create a Citibank Online account where they can access the online welcome acknowledgment form to complete the redemption. The Shell limited edition bags will be delivered within 15 business days after submission of the redemption form.  Shell V-Power Nitro+ fuels purchase must be made until April 30, 2014 to qualify for this offer. Promotion is exclusive to clients applying for their very first Citi credit card.

Chevron volunteers at animal shelter

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They were either shot, run over, abandoned, beaten, or starved. Volunteers from Chevron Philippines Inc. (CPI), marketer of the Caltex fuels and lubricants, took an afternoon off work to care for these abused animals that were being treated at PAWS (Philippine Animal Welfare Society) rehabilitation center in Quezon City. The volunteers donated 22 boxes of pet food and prepared meals for the shelter’s 256 cats and 74 dogs. The activity was part of Chevron’s annual “Week of Caring” program that advocates diversity and the spirit of volunteerism in its employees and like stakeholders.

“Chevron is one of the few big companies to go to PAWS and support animal welfare. This effort opens up new opportunities for us in strengthening our advocacy to prevent animal cruelty through education, animal sheltering and adoption,” said Charlene Laxamana, PAWS administrative officer.