Chevron puts Permian at heart of its net-zero strategy
Robust FCF and driving down emissions in the shale patch are central planks in the US major’s journey towards low-carbon energy
Mounting production in the Permian basin is set to play a crucial role in Chevron’s pivot towards low-carbon energy, through driving down emissions and generating the free cash flow (FCF) needed to fund the decarbonisation push. The company’s Permian output is projected to almost double to over 1mn bl/d over the next five years. And the major expects upstream growth to lift FCF by more than 10pc annually, assuming an oil price above $50/bl. Like other big-name players in the US shale patch, Chevron consolidated its Permian footprint last year. The acquisition of US independent Noble Energy added another 92,000 net acres in the Midland and Delaware basins. After re-evaluating the pro forma b
Also in this section
4 February 2025
This premier event is poised to address the evolving technology and investment demands of North America’s thriving chemical and pharmaceutical sectors
4 February 2025
The threat of Trump tariffs and the departure of Trudeau have sharpened the domestic political focus on boosting the oil and gas industry
3 February 2025
Alaska has been engulfed by a lack of consistent policymaking and highlights the challenges financing energy projects in the US
31 January 2025
Several projects are expected to boost production this year as strategically important region looks to environmental rules, fiscal policies, oil prices and demand trends longer term
