Chevron(US:CVX) Bloomberg Televisionยท2025-11-12 22:53Strategic Direction & Growth - Chevron is bigger, stronger, and better than ever, with growing free cash flow and earnings over the next five years [2] - Free cash flow is growing at greater than 10% compound annual growth rate, driven by the core business and supplemented by new opportunities [2] - The company plans to be operational with its data center power project by 2027 [4] - Exploration spending is set to increase by approximately 50% [11] Data Center Power Project - Chevron is entering the power business to support the coming boom in AI and the need for more power to support data center buildout [3] - The power project will be disconnected from the grid and serve only a dedicated customer for AI [3] - The company has 5 gigawatts of power generation to support facilities in remote locations without grid access [6] - The data centers will be located close to the gas supply and fiber infrastructure in West Texas [8][10] Market Dynamics & Supply - Demand for energy will only grow into the future, with oil and gas demand growing to 2050 based on current policies [15] - Oil prices in 2026 are likely to feel more pressure than LNG prices due to supply coming back from OPEC plus countries [19][20] - LNG spot prices are expected to be pressured due to high supply from new projects in the Middle East and the United States [19][20]