Chevron boasts a 37-year consecutive dividend increase streak, underpinned by a robust balance sheet featuring $8 billion in cash and an AA credit rating. Management has indicated that the dividend can be sustained even if Brent crude prices fall to $50 per barrel. The company targets 2–3% annual production growth through 2030 and 10% annualized free cash flow growth, providing strong support for future distribution increases and making the payout durable across commodity cycles.

Sources familiar with Chevron’s operations report that the company plans to lift exports of Venezuelan crude to the U.S. to approximately 300,000 barrels per day in March. This marks a threefold increase from 100,000 bpd in December and a 30% rise compared with the roughly 230,000 bpd shipped so far this month. The ramp-up follows renewed U.S. sanction waivers and reflects Chevron’s strategic role as one of the few Western majors with on-the-ground logistics capacity in Venezuela.

Chevron has appointed Thomas W. Horton, 64, to its Board of Directors as an independent director and named him to the Audit Committee. Horton brings experience as former chairman and CEO of American Airlines Group and as a partner at Global Infrastructure Partners. His addition is expected to enhance oversight of financial reporting and risk management, aligning with the company’s focus on strong governance practices as it navigates complex global projects.

Chevron signed a memorandum of understanding with Libya’s National Oil Corporation, marking its strategic re-entry into the country after more than a decade away. The MoU will explore new oil and gas opportunities across key sedimentary basins. Simultaneously, Chevron is pushing the Iraqi government for improved fiscal terms on the West Qurna 2 field before agreeing to acquire Lukoil’s stake. Company executives view enhanced revenue-sharing conditions as critical to achieving acceptable project returns and aligning with shareholder expectations.