Chevron outlines a five-year plan for sustained cash flow growth, tighter capital spending, production expansion, and entry into power solutions for AI-driven data center demand. The strategy aims for over 10% annual growth in adjusted free cash flow and earnings per share at $70 Brent, CEO Mike Wirth’s strongest outlook.

Annual capex guidance lowered to $18–$21 billion, with steady production increases of 2–3% yearly through 2030. Expected synergies with Hess raised to $1.5 billion, cost reduction targets increased to $3–$4 billion by 2026. Strategy focuses on maintaining a breakeven below $50 Brent and expanding cash generation.

Chevron builds on high-profile acquisitions, including Hess, with low-risk projects in U.S. shale, Gulf of Mexico, and international assets. With AI-driven electricity use rising, Chevron is early in the power business, targeting data center supply, with a project in West Texas set for 2027.

Downstream and Chemicals arm to grow, with two major chemicals units starting up in 2027. Chevron emphasizes shareholder distributions, with 25 years of leading dividend growth and a buyback program targeting $10–$20 billion annually through 2030 at $60–$80 Brent.

Chevron focuses on pragmatic new energies strategy, centered on returns and integration with existing strengths. Priorities include renewable fuels, hydrogen, CCUS, lithium, and a new power business supporting U.S. AI infrastructure. Approach aims to avoid large-scale renewables execution risks while aligning with evolving policy.

Read more at Yahoo Finance: Chevron Targets Double-Digit Cash Flow Growth in 2030 Roadmap