Chevron CEO Mike Wirth Talks Earnings and Oil Demand
Apr 29, 2024
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Chevron CEO Mike Wirth discusses strong earnings, oil demand growth in US and Asia. Talks about capital discipline, oil exploration in Namibia, deal progress with Hess, arbitration in joint operating agreement, and analyzes oil price dynamics and market risks with Bloomberg hosts.
Chevron exceeded earning expectations due to strong oil production growth from acquisitions.
Chevron CEO Mike Wirth highlighted growing oil demand in the US and Asia during the podcast.
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Discussing Chevron's recent financial performance, the focus shifts to its global production increase and positioning post-acquisition of HES. Insights from Mike Worth, chairman and CEO of Chevron, shed light on operational highlights, production growth targets, and demand outlook across different regions. Emphasizing the significance of capital efficiency and long-term value creation, Chevron's strategies for acquisitions and exploration projects like Namibia and Guyana are outlined, showcasing a commitment to sustainable growth and resilience in the energy sector.
Chevron recently surpassed analyst expectations for a second straight quarter. Strong oil-production growth from recent acquisitions helped the company take advantage of crude prices above $80 a barrel. Chevron CEO Mike Wirth says that oil demand is growing and remains strong in the US and Asia. Wirth discussed Chevron's most recent earnings report and oil demand with Bloomberg Television hosts Alix Steel and Romain Bostick.