Chevron banks on capital discipline to secure growth

Chevron banks on capital discipline to secure growth
Image courtesy of Chevron

US energy giant and LNG player, Chevron, is focused on growing the company’s free cash flow in 2018 and beyond even with no commodity price appreciation. 

“We expect to deliver stronger upstream cash margins and production growth. This is a powerful combination,” said Michael Wirth, Chevron’s chairman and chief executive officer at the company’s annual security analyst meeting.

“We intend to maintain capital discipline, as evidenced by an $18 billion investment program this year and an $18-$20 billion annual investment range projected through 2020,” Wirth added.

Jay Johnson, executive vice president, upstream, said the company is also focused on delivering production growth from the Gorgon and Wheatstone LNG projects in Australia.

Chevron expects to have all five Gorgon and Wheatstone LNG trains generating cash flow by the second quarter of the year. The company noted it has approximately 50 Trillion cubic feet of discovered equity resource offshore Western Australia.

Share this article

Follow LNG World News

Posted on March 8, 2018 with tags .

Events>

<< Jun 2019 >>
MTWTFSS
27 28 29 30 31 1 2
3 4 5 6 7 8 9
10 11 12 13 14 15 16
17 18 19 20 21 22 23
24 25 26 27 28 29 30

5th CWC China LNG & Gas International Summit & Exhibition

5th CWC China LNG & Gas International Summit & Exhibition will return 16 – 17 October 2019, bringing together the key players…

read more >

LNG Pricing, Trading & Hedging London

LNG Pricing, Trading & Hedging training program has been completed by hundreds of leading traders, analysts, risk managers…

read more >

LNG Pricing, Trading & Hedging Singapore

LNG Pricing, Trading & Hedging training program has been completed by hundreds of leading traders, analysts, risk managers…

read more >

LNG Pricing, Trading & Hedging Houston

LNG Pricing, Trading & Hedging training program has been completed by hundreds of leading traders, analysts, risk managers…

read more >