Reports Q4 revenue $52.23B, consensus $48.41B. “In 2024, we delivered record production, returned record cash to shareholders and started up key growth projects,” said Mike Wirth, Chevron’s (CVX) chairman and chief executive officer. Worldwide and U.S. net oil-equivalent production increased 7 and 19 percent, respectively, from last year. The company started up several key projects in the Gulf of America, including the industry-first, high-pressure Anchor project. In Kazakhstan, Tengizchevroil completed the Wellhead Pressure Management Project and recently started up the Future Growth Project. Chevron also repurchased over $15 billion of its shares in 2024, extending its track record of repurchasing shares in 17 out of the last 21 years. “We strengthened our portfolio and committed to reduce costs and maintain capital discipline, positioning us for significant free cash flow growth,” Wirth concluded.
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