Chevron plans to prioritize free cash flow and shareholder returns over oil and production growth in its five-year plan to 2030. The company aims to increase output while focusing on boosting earnings per share through cost cuts and synergies from acquisitions. Chevron expects to maintain capital discipline and grow oil and gas production by 2-3% annually, aiming for improved returns by 2030. The company also plans to enhance synergies from acquisitions and reduce costs to improve cash flow. Chevron aims to keep capex and dividend breakeven below $50 per barrel Brent through 2030. CEO Mike Wirth is confident in the company’s future outlook and resilience. CFO Eimear Bonner emphasizes the focus on growing free cash flow rather than volume. Chevron’s strategic plan is value-focused, with a new emphasis on AI data center power projects in West Texas. The company is pragmatic in its approach to new energies, leveraging its core strengths for future growth. President of Chevron New Energies, Jeff Gustavson, highlights the company’s early-mover advantage in the power business to support U.S. leadership in AI.

Read more at Yahoo Finance: Chevron’s Five-Year Plan Prioritizes Superior Shareholder Returns