Chevron puts Permian at heart of its net-zero strategy
Robust FCF and driving down emissions in the shale patch are central planks in the US major’s journey towards low-carbon energy
Mounting production in the Permian basin is set to play a crucial role in Chevron’s pivot towards low-carbon energy, through driving down emissions and generating the free cash flow (FCF) needed to fund the decarbonisation push. The company’s Permian output is projected to almost double to over 1mn bl/d over the next five years. And the major expects upstream growth to lift FCF by more than 10pc annually, assuming an oil price above $50/bl. Like other big-name players in the US shale patch, Chevron consolidated its Permian footprint last year. The acquisition of US independent Noble Energy added another 92,000 net acres in the Midland and Delaware basins. After re-evaluating the pro forma b
Also in this section
28 November 2025
The launch of the bloc’s emissions trading system in 2005 was a pioneering step, but as the scheme hits 21 its impact as a driver of decarbonisation is still open to debate
18 November 2025
Vicki Hollub, president and CEO of Occidental, has been selected as the 2026 recipient of the Dewhurst Award, the highest honour bestowed by WPC Energy. The Dewhurst Award celebrates exceptional leadership, groundbreaking innovation and a lifetime of significant achievements in sup-port of the development and advancement of the energy industry.
11 November 2025
Transition policies must recognise that significant industrial demand for carbon will continue even as economies hit net zero
6 November 2025
After years of pursuing ideologically driven climate leadership, Western powers are now stepping back under mounting political pressure and rising populist opposition—prompting concern essential climate action could be sidelined
