Tag: Mike Wirth

Chevron Raises Exploration Spending by 50% as It Returns to Frontier Basins, Prioritizing Geopolitical Diversification Away from Key Chokepoints

Clark Savage490

Chevron is sharply increasing its exploration budget by roughly 50%, targeting more than $1.5 billion in 2026 compared with just under $1 billion in 2025. The move, driven by Vice President of Exploration Kevin McLachlan (recruited from TotalEnergies), marks a deliberate return to high-impact frontier basins after years of heavier focus on the U.S. Gulf […]

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Chevron CEO Says Oil Storage Buffers Being Drawn Down

Clark Savage1659

In a candid interview at the Milken Institute Global Conference, Chevron Chairman and CEO Mike Wirth delivered a sobering assessment of the global oil market: the industry’s traditional “shock absorbers” — commercial inventories in tanks, oil on tankers (including shadow fleet vessels), and strategic petroleum reserves — have been significantly drawn down in recent months […]

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Chevron CEO Mike Wirth Says Venezuela Must Do More for Oil Industry Revival

Clark Savage2085

Houston-based Chevron Corporation remains the leading Western oil major active in Venezuela, but CEO Mike Wirth is calling for deeper reforms from Caracas if the country’s vast oil sector is to achieve meaningful revival. In comments reported by Bloomberg on April 26, 2026, Wirth acknowledged recent positive policy moves under Venezuela’s Hydrocarbons Law but stressed […]

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Chevron’s Future: Why the CEO Is All In

Clark Savage390

The world needs trillions of dollars just to meet normal decline curves, and we are tracking the oil and gas businesses\’ returns to investors as consistent compared to renewable energy sources. Consumers and investors want low-cost and reliable energy, and with leaders like Gavin Newsom representing the United States at COP30, we can rest assured […]

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