Chevron: CEO predicts higher returns and less carbon

In a recent interview with Bloomberg TV, Chevron CEO Mike Wirth spoke about the future of the company, which is tied with French oil company Total in demanding the lowest oil price to reach the break-even point.

"We managed to remain very stable while others had to change the strategy, change dividends, change financial priorities," Mike said. "For us, it's been a very simple promise of higher returns, less carbon and you can count on us."

The company's carbon targets are linked to the reduction of methane leaks and so-called intensity of emissions, which means less pollution per barrel of oil produced. This leaves the company with room for manoeuvre to increase overall emissions in the future, as oil production is also high. 

"We favor action over promises," Wirth said. "Long-term commitments where we really don't know how we're going to get to the end of the road are something we've been a little careful about."


Leave a Reply