2023 chevron investor day
safely deliver higher returns, lower carbon
At our annual investor meeting, Chevron leaders reaffirmed progress to deliver higher returns and advance a lower carbon future.
Our approach is clear and consistent: apply capital and cost discipline to a portfolio of advantaged assets to safely deliver lower carbon energy to a growing world and superior cash returns to our shareholders.
winning combination
affirmed production growth of >3% CAGR by 2027
maintain $13–$15 billon1 in capex through 2027
disciplined growth
affirmed production growth of >3% CAGR by 2027
maintain $13–$15 billon1 in capex through 2027
progress toward upstream CO2 intensity reduction target2
on track for 2030 renewable fuels target target
lower carbon
progress toward upstream CO2 intensity reduction target2
on track for 2030 renewable fuels target target
raised annual buyback guidance to $10–$20 billion
expect >10% FCF annual average growth3
higher cash
raised annual buyback guidance to $10–$20 billion
expect >10% FCF annual average growth3
Note: These figures represent the company’s previously announced guidance and targets.
1 In addition to our capital expenditure guidance of $13 – $15 billion through 2027, our affiliate capital expenditure guidance is ~$2 billion from 2024 through 2027.
2 Target 35% reduction by 2028 in Upstream CO2 intensity from 2016 baseline.
3 FCF at $60 Brent, $4.50 Henry Hub, $13.50 international LNG, mid-cycle refining and chemical margins, and excludes working capital.
mike wirth, chairman and CEO
headlines from chevron investor day
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working to meet the growing demand for energy
As one of the leading energy producers in the nation, we’re working to ramp up production in Texas, Colorado and beneath the waters of the U.S. Gulf of Mexico.
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hydrogen hub proposed for US gulf coast
Named HyVelocity Hub, the project would include a variety of production and transport infrastructure.
press release
chevron reaffirms higher returns, lower carbon objectives
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what is renewable natural gas (RNG)?
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chevron to boost permian oil production
For more information on the terms and acronyms used here, see the appendix to the 2023 Chevron Investor Day presentation (pp. 42-47).
progress in lower carbon
We believe we have the capabilities, assets, and customer relationships to lead in the energy transition – helping to lower our emissions intensity while meeting the energy needs of a growing world. This is a part of our plan to deliver exceptional stockholder value in any business environment.
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