2023 chevron investor day

safely deliver higher returns, lower carbon

At our annual investor meeting, Chevron leaders reaffirmed progress to deliver higher returns and advance a lower carbon future.

Our approach is clear and consistent: apply capital and cost discipline to a portfolio of advantaged assets to safely deliver lower carbon energy to a growing world and superior cash returns to our shareholders.

winning combination

Note: These figures represent the company’s previously announced guidance and targets.

1 In addition to our capital expenditure guidance of $13 – $15 billion through 2027, our affiliate capital expenditure guidance is ~$2 billion from 2024 through 2027.

2 Target 35% reduction by 2028 in Upstream CO2 intensity from 2016 baseline.

3 FCF at $60 Brent, $4.50 Henry Hub, $13.50 international LNG, mid-cycle refining and chemical margins, and excludes working capital.

“Affordable energy is vital for economies to flourish.  Reliable energy is essential for national security. And we all have a stake in a lower carbon future.”

mike wirth, chairman and CEO

For more information on the terms and acronyms used here, see the appendix to the 2023 Chevron Investor Day presentation (pp. 42-47).

progress in lower carbon

We believe we have the capabilities, assets, and customer relationships to lead in the energy transition – helping to lower our emissions intensity while meeting the energy needs of a growing world. This is a part of our plan to deliver exceptional stockholder value in any business environment.

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