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Chevron beats Q4 profit estimate, eyes Venezuela investment opportunities
Chevron plans to increase Venezuela oil output by 50% over two years, supported by record global production and a 4% dividend raise, the company said.
- On Friday, Chevron Corp. posted fourth-quarter results with adjusted EPS $1.52, beating the $1.45 expected, while revenue was $46.87 billion, down 10% from last year.
- Production rose 12% worldwide in 2025, with new supplies from the U.S. Gulf of Mexico and Tengiz, Kazakhstan helping Chevron reach 4.05 million barrels per day, about 21% higher year-over-year.
- With a U.S. Treasury license, Chevron said it can ramp Venezuela output by 50% over 18 to 24 months, and CEO Mike Wirth stated, `We have been a part of Venezuela's past for more than a century. We remain committed to its present. And we stand ready to help it build a `better future while strengthening U.S. energy and regional security,'` in a news release.
- The company raised its dividend 4% to $1.78 per share, and Chevron Corp. expects production to grow about 8% this year, mainly from Guyana and the Eastern Mediterranean, while Wall Street views it as best positioned to benefit from Venezuela.
- Chevron has returned over $1.78 billion to shareholders and said spending discipline faces pressure from U.S. President Donald Trump to invest heavily in Venezuela, while management kept the capital budget low after Jan. 3.
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A high-ranking executive of Chevron praised Venezuela’s oil assets, while the oil company and its biggest U.S. rival, Exxon Mobil, declared Friday their lowest annual profits in years. “Resources are very promising and deposits have a lot of space,” said Eimear Bonner, Chevron’s financial director, in an interview. She faithfully adhered to what one of her colleagues shared at a meeting in the White House a few weeks ago, reiterating that Chevro…
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Total News Sources13
Leaning Left1Leaning Right1Center8Last UpdatedBias Distribution80% Center
Bias Distribution
- 80% of the sources are Center
80% Center
C 80%
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