chevron CEO talks company growth, new ventures

Mike Wirth, Chevron chairman and CEO, discussed changing attitudes toward energy and Chevron’s growth on Bloomberg Surveillance. Video courtesy of Bloomberg.

In a recent appearance on Bloomberg Surveillance, Mike Wirth, Chevron chairman and CEO, discussed changing views toward oil and gas, as well as the company’s new ventures that aim to meet the energy needs of big tech companies.

Key takeaways:

• A new, pragmatic approach to energy. Wirth pointed out that under the new administration in the White House, attitudes toward energy are shifting. “Rather than criticizing and almost, in some ways, ostracizing oil and gas,” Wirth said, “it’s an administration that has talked about American energy abundance and using that to the benefit of the American economy.”
• More capital-efficient production growth. Chevron continues to bring new energy supplies to the market at a lower capital investment rate than ever before.
• Growth in the Gulf of America. Chevron is tracking to grow 10% in the Permian Basin, while growth in the Gulf of America is projected to increase from 200,000 barrels per day to 300,000 barrels per day by the end of 2026.
• Rapid response to the growing energy demands of data centers. Working together, Chevron, GE Vernova and Engine No. 1 are aiming to deliver four gigawatts of power to U.S. data centers, beginning in late 2027.