Chevron announced an increase in its share price program and forecast operating flows until 2026, benefiting from cost reductions and the recent rise in energy prices.
The second largest oil company in the US is now going to buy 5-10 billion dollars of shares of each country, compared to the previous target of 3-5 billion dollars.
“We aim to increase cash flow and return more to shareholders, harnessing our power to deliver lower carbon energy to a developing world,” said CEO Mike Wirth.
The company also maintained previous estimates for annual upstream spending between $ 15-17 billion by 2026, and expects operating costs per barrel to fall by more than 10% from a year earlier.
It also reaffirmed its goals for reducing carbon in its activities and developing new business lines in renewable fuels.
Source: Capital
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