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
1 April 2025
There is method to the US president’s apparent madness, and those seeking to understand need look no further than their local bookshop
1 April 2025
Strong economic growth targets are encouraging for the country’s energy demand growth, even if meeting those goals might be a tall order
28 March 2025
The Central Asian country is positioning itself as a low-carbon leader, but antiquated infrastructure and a dependence on Russia are holding it back
28 March 2025
MCEDD 2025 took place in Madrid this week with record attendance and a wide-ranging programme, reflecting the deepwater sector’s renewed momentum, strategic focus and accelerating technological innovation.
