Chevron Maps 2030 Path With Steady Cash, Smarter Energy, Stronger Returns

Chevron Corporation (NYSE:CVX) unveiled its 2030 roadmap at its investor day. The company plans to focus on steady cash flow growth, portfolio enhancement, AI data center power solutions, and higher shareholder returns.

Targets

Chevron aims to keep capital expenditure and dividend breakeven below $50 per barrel of Brent through 2030 and improve return on capital employed by over 3% at $70 Brent.

Also, the company targets to boost Hess synergies to $1.5 billion alongside structural cost savings to $3 billion–$4 billion by 2026.

Also Read: JPMorgan Says Chevron Investor Day Will Highlight Oil, Gas, LNG Market Dynamics

The company also targets 2%–3% annual growth in oil and gas production through 2030.

Also, Chevron expects to deliver its first AI data center power project in West Texas, with initial power generation planned for 2027.

The company lowered its annual capex guidance to $18 billion–$21 billion.

Shareholders Return

Chevron plans to continue its dividend growth and share repurchases across commodity cycles, backed by a diversified portfolio of high-margin assets.

Over the past 25 years, the company has led peers with an average annual dividend increase of 7% and has repurchased shares in 18 of the last 22 years, targeting $10 billion–$20 billion in buybacks annually through 2030 at $60–$80 Brent.

Going forward, Chevron is pursuing a practical, returns-focused strategy in New Energies, building businesses that capitalize on its core strengths. The company’s initiatives include a large-scale West Texas power project for data centers, along with ventures in renewable fuels, hydrogen, CCUS, and lithium.

Recent Earnings

Last month, the energy giant reported its third-quarter 2025 results, posting adjusted earnings of $1.85 per share, down from $2.51 a year earlier but ahead of the consensus estimate of $1.71.

Operationally, the company delivered strong growth, with U.S. production rising 27% year-over-year and global output up 21% during the quarter.

Price Action: CVX shares were trading higher by 0.20% to $156.55 premarket at last check Wednesday.

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