BAKU, Azerbaijan, Aug.9. Chevron continues to present consistent financial priorities led by a focus on capital efficiency, maintaining and growing dividends and returning surplus cash through share buy backs, Trend reports with reference to Fitch Solutions.
“Annual guidance for the annual buy back targets nearly USD5bn to USD10bn, with 2022 guidance now targeting the top end of USD10bn. Highlighting Chevron’s commitment to the upstream sector, Q122 results state 88% of expenditures in 2022 will target upstream, although recent creation of the New Energies division will see new investment in hydrogen and carbon capture businesses,” reads the latest report from Fitch Solutions.
The report reveals that lowering carbon emissions efforts will be undertaken to improve upstream operations with net zero aspirations for Scope 1 & 2 emissions by 2050, zero flaring by 2030 and a greater than 50% reduction in methane emission by 2028.
The Permian will continue to be a key growth driver for Chevron with guidance of USD4bn of capital expenditure per year.
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