Chevron Corporation (CVX) Earnings Call Transcripts
Chevron Corporation's Latest Earnings Call - September 8, 2026
In the Barclays Energy and Power Conference held on September 8, 2026, Chevron Corporation highlighted significant growth potential in its Venezuelan operations, aiming to double production to over 600,000 barrels per day by 2031. The company reported a robust financial position, with a commitment to maintaining its dividend and a focus on capital efficiency. Management emphasized that they expect to invest $7 billion over the next five years in Venezuela, which is projected to yield attractive returns at a total cost of less than $20 per barrel. Overall, Chevron's outlook remains strong, with management signaling confidence in operational momentum and strategic growth opportunities across its portfolio.
Reported metrics
| Metric | Value |
|---|---|
| Production Target | 600,000 barrels per day (positive) |
| Investment in Venezuela | $7 billion (positive) |
| CapEx Reduction | 25% (positive) |
| Structural Cost Reductions | $3 billion (positive) |
| Dividend Growth | Consistent with last 39 years (positive) |
| Exploration Discoveries | 6 discoveries (positive) |
Guidance from management
Chevron maintains a strong outlook for growth, particularly in Venezuela, with plans to double production by 2031. The company is committed to returning excess cash to shareholders while continuing to invest in operational efficiencies.
What management said
The negotiations are moving at pace. So both teams, the Chevron and Exxon and [indiscernible] and KMG team that represent TCO and the government. Those teams are assembled. They're working together. They're working through the key points, the technical points, the commercial points right now. So there's no showstoppers. So things are moving at pace. These negotiations for us at this size will take a long time. So I...
What analysts pressed on
Analysts expressed concerns regarding the sustainability of the new fiscal terms in Venezuela and the readiness of infrastructure to support the anticipated production growth. There were also questions about the balance between debt reduction and share buybacks amidst market volatility.
Main topics on the call
- Venezuela Investment and Production Growth — Chevron plans to double its production in Venezuela to over 600,000 barrels per day by 2031, with an investment of $7 billion over five years. Eimear Bonner stated, "This is growth at low cost and very attractive returns...
- Balance Sheet Strength and Shareholder Returns — Chevron's balance sheet has improved significantly post-Hess acquisition, allowing for continued debt reduction and share buybacks. Management confirmed, "Excess cash will go back to the shareholders. It's not a matter o...
- Operational Efficiency in U.S. Shale — The company reported a 25% reduction in CapEx intensity for 2026 compared to 2025, driven by improved capital efficiency in its shale operations. Bonner noted, "We're getting more with less," highlighting the operational...
- Cost Reduction Achievements — Chevron delivered $3 billion in structural cost reductions six months ahead of schedule, primarily through portfolio optimization and technological advancements. Bonner mentioned, "70% of those are efficiency gains," ind...
Read the full Chevron Corporation transcript (September 8, 2026) → Summary generated from the call transcript; every figure above is stated by management on the record.
About Chevron Corporation
Chevron Corporation (CVX) is a publicly listed company in the Oil, Gas and Consumable Fuels industry, within the Energy sector. It trades on NYSE and is based in US. EarningsCalls.dev maintains a free, full-text archive of its earnings call transcripts — 50 calls on record spanning January 31, 2020 to September 8, 2026. Every transcript is split into speaker-by-speaker segments with headline metrics, free to read or available through our REST API.
Earnings Call History
EarningsCalls.dev has 50 Chevron Corporation earnings call transcripts on record, spanning January 31, 2020 to September 8, 2026. Based on this history, Chevron Corporation reports quarterly. The most recent call on file is dated September 8, 2026. The full list is below — each row opens the complete, free-to-read transcript.
- Ticker
- CVX
- Exchange
- NYSE
- Country
- US
- Sector
- Energy
- Industry
- Oil, Gas and Consumable Fuels
- Calls on record
- 50
- First call
- January 31, 2020
- Most recent
- September 8, 2026
- Reporting cadence
- quarterly