Chevron Affirms Cash Flow Growth and Capital Discipline

“We plan to further lower our cost structure, get more value from our existing assets and continue to high-grade our portfolio. We believe execution of these plans will support our primary commitment to shareholders, which is a sustained and growing dividend over time. As we generate surplus cash, we would expect to be in a position to resume our share repurchase program.” Jay Johnson, executive vice president, upstream, reviewed Chevron’s upstream opportunities. “Our objective is to ensure our upstream business provides competitive returns throughout the price cycle. We’re focused on operating safely and reliably, continuing to lower our costs, and delivering production growth from the Gorgon and Wheatstone LNG projects in Australia.” “In addition, we’re advancing development of our unconventional resources, particularly in the U.S. Permian Basin, where we have a leading position. We’re seeing reserves grow, costs shrink, efficiencies expand and production rise.” Mr. Johnson provided an update on the company’s Tengiz growth project in Kazakhstan, which is on track to deliver first production in 2022. He also discussed multiple deepwater assets and emphasized near-term opportunities to leverage existing infrastructure, apply technology and increase standardization to improve capital and operating cost efficiencies for these deepwater assets. Source / More: Chevron oilandgasOil and Gas News Undiluted !!! “The squeaky wheel gets the oil” Please email us your industry related news for publication info@OilAndGasPress.com Follow us: @OilAndGasPress on Twitter | OilAndGasPress on Facebook ]]>

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