Chevron Corp.

Chevron plans to increase exploration spending by more than 50% next year, with exploration outlays expected to exceed $1.5 billion and a planned slate of about 20 exploration wells plus five to six appraisal wells in 2027. The push—including new acreage in Brazil, Egypt, Namibia and Suriname and greater use of AI and improved seismic data—aims to address reserve replacement after proven reserves dipped below 11 BBOE. Management expects to sustain dividend growth given a strong cash-flow profile and capex guidance, but discoveries may take years to translate into cash flow and could be noncommercial or high-cost. » More on finance.yahoo.com

Chevron outlined plans at Gastech to expand LNG capacity across Argentina, the eastern Mediterranean, Africa and Australia, aiming for roughly 20 million metric tons of supply (16 million tons net plus 4 million contracted from the US Gulf Coast). The company flagged Australia and Africa as conditional on capital, fiscal and regulatory terms and said LNG growth will compete for capital with its Venezuela oil investment. Chevron is a major partner in Australia's Gorgon project, where ExxonMobil also holds a stake, illustrating overlap even as Chevron pursues broader geographic growth. » More on finance.yahoo.com

Chevron's CFO said the company will more than double the number of oil rigs it operates in Venezuela and its joint ventures will invest over $7 billion to raise production to about 600,000 barrels per day by 2031, up from roughly 290,000 bpd today. Chevron will export current Venezuelan output to the US and expects low unit costs below $20 per barrel and enhanced fiscal and legal protections, including international arbitration. Major risks include Venezuela's political instability, dilapidated oil infrastructure and potential execution delays or higher-than-expected costs. » More on finance.yahoo.com