chevron leaders share their vision for the future at CERAWeek 2025

As demand for reliable, affordable, lower carbon intensity energy continues to rise from its current all-time high, leaders from Chevron took center stage at the 2025 CERAWeek conference, the energy industry’s foremost annual gathering, with important messages about the future of energy.

Their comments focused on three main themes:

• Chevron is working to meet rising energy needs by increasing production across its operations. Both globally and in the U.S., 2024 was Chevron’s highest-production year to date.
• Transforming the global energy system will require ingenuity and innovation.
• AI is transforming the energy landscape—not only because AI data centers require a lot of energy to operate, but also because AI tools are changing the way that companies like Chevron do business.

Here are some topics that Chevron leaders discussed at CERAWeek 2025:

Addressing industry leaders at CERAWeek 2025, Mike Wirth spoke about Chevron’s increasing production. Watch the full discussion.

Key takeaways:

• 2024 was Chevron’s most productive year to date: production was up 7% overall and nearly 20% in the U.S., and the company returned a record $27 billion to shareholders.
• Chevron is poised to, over the next two years, grow free cash flow by as much as $10 billion. Chevron is tracking to grow 10% in the Permian Basin, while growth in the Gulf of America is projected to increase from 200,000 barrels per day to 300,000 barrels per day by the end of 2026.
• Without action and innovation, AI’s high energy requirements may strain current energy systems. Chevron is poised to provide reliable, abundant energy to power AI data centers, thanks in part to the fact that it is scaling production of natural gas.

Key takeaways:

• Many forms of energy will be needed to power transportation in the future, and Chevron is currently making investments with an eye not only on today’s transportation environment, but also on possible changes in the decades ahead.
• Durable policies are needed to enable new products—including hydrogen and biodiesel—and to encourage consumers to buy them.

Key takeaways:

• AI allows Chevron to leverage vast amounts of data to make faster, higher-quality decisions that drive better business results. Data that once took a lot of time uncover is now almost instantly available to Chevron’s practitioners.
• AI tools are helping Chevron in its efforts to lower the carbon intensity of its operations. At the same time, AI tools are also helping Chevron in its efforts to make operations safer for workers.
• AI acceleration is increasing demand for energy to power data centers, and natural gas provides the fastest time-to-market for reliable and scalable power. When combined with carbon capture and storage, natural gas is also a lower carbon intensity solution.

Key takeaways:

• Energy solutions must scale, and Chevron has unique capabilities to do just that. Established companies have the ability to scale new technologies, integrate them into existing operations, and provide the necessary capital and capabilities to bring these innovations to market.
• Collaboration is increasingly important to close innovation gaps and integrate emerging technologies into existing value chains.
• The technologies where you have to build an entire market, a whole new value chain, are the challenging ones.