Renewable Energy
Renewable Energy Report
Updated July 2024
2019 Annual Report (chevron.com)
delivered Total Stockholder Returns (TSR) in 2019 and 8.5% over the past decade — both leading the peer group $27 billion generated more than in cash flow from operations and returned $13 billion to shareholders1 6.2% increased our dividend payout marking the 32nd consecutive year of increased per-share dividend payouts increased share repurchases to a run-rate of $5 billion per year lowered our net debt ratio to 12.8%2 further strengthening the company’s balance sheet.
U.S. Energy Information Administration - EIA - Independent Statistics and Analysis
United States grew for the fourth year in a row, reaching a record 11% of total U.S. energy consumption. Wood and waste energy, including wood, wood pellets, and biomass waste from landfills, accounted for about 24% of U.S. renewable energy use in 2019. Industrial, commercial, and electric power facilities use wood and waste as fuel to generate electricity, to produce heat, and to manufacture goods. About 2% of U.S. households used wood as their primary source of heat in 2019. Biofuels, including fuel ethanol, biodiesel, and other renewable fuels, accounted for about 20% of U.S. renewable energy consumption in 2019. Biofuels usually are blended with petroleum-based motor gasoline and diesel and are consumed as liquid fuels in automobiles. Industrial consumption of biofuels accounts for about 36% of U.S. biofuel energy consumption.
growing the dividend maintaining a strong balance sheet 8% 22.7% Increased dividend 8% in 2020 Achieved industry-leading 22.7% net debt ratio See page 46 for additional information reinvesting in our business to grow future cash flows returning excess cash to stockholders $13 billion $1.75 billion Added $13 billion in enterprise value with Noble Energy acquisition Repurchased shares in 13 of the last 17 years, including $1.75 billion in 2020
U.S. Energy Information Administration - EIA - Independent Statistics and Analysis
In 2019, U.S. annual energy consumption from renewable sources exceeded coal consumption for the first time since before 1885, according to the U.S. Energy Information Administration’s (EIA) Monthly Energy Review. This outcome mainly reflects the continued decline in the amount of coal used for electricity generation over the past decade as well as growth in renewable energy, mostly from wind and solar. Compared with 2018, coal consumption in the United States decreased nearly 15%, and total renewable energy consumption grew by 1%.
chevron.com/-/media/chevron/annual-report/2021/documents/2021-Annual-Report.pdf 2021
794 MBOED produced in 2021 from our shale and tight assets $4.5 billion of our 2022 capital budget is focused on shale and tight resources 2.6 million net acres of shale and tight resources for exploration and production
U.S. Energy Information Administration - EIA - Independent Statistics and Analysis
U.S. exports of liquefied natural gas (LNG) continued to grow in the first six months of 2021, averaging 9.6 billion cubic feet per day (Bcf/d). This average marks an increase of 42%, or 2.8 Bcf/d, compared with the same period in 2020 (according to the U.S. Department of Energy’s LNG Monthly reports and our estimates for June 2021, based on shipping data from Bloomberg Finance L.P.). During the summer months of 2020, U.S. LNG exports fell to record lows, but they set consecutive record highs in November and December.
2022 Annual Report (chevron.com)
asset class: deepwater We are a leader in applying new technologies to tap into the oil that lies deep beneath the ocean floor, and doing so in a lower carbon way. Our deepwater assets include fields offshore of Angola, Australia, Equatorial Guinea, Indonesia, Israel, Nigeria and Republic of Congo and in the U.S. Gulf of Mexico, with deepwater exploration activities ongoing offshore 12 countries. Our U.S. Gulf of Mexico facilities are some of the lowest carbon intensity‑producing assets in the world. 872 mboe/d produced from our deepwater asset class in 2022 $4.3 billion of our 2023 capital budget focused on deepwater resources ~6 kilograms CO2 e/boe carbon intensity in the deepwater U.S. Gulf of Mexico
U.S. Energy Information Administration - EIA - Independent Statistics and Analysis
The United States became the world’s largest liquefied natural gas (LNG) exporter during the first half of 2022, according to data from CEDIGAZ. Compared with the second half of 2021, U.S. LNG exports increased by 12% in the first half of 2022, averaging 11.2 billion cubic feet per day (Bcf/d). U.S. LNG exports continued to grow for three reasons—increased LNG export capacity, increased international natural gas and LNG prices, and increased global demand, particularly in Europe.
According to our estimates, installed U.S. LNG export capacity has expanded by 1.9 Bcf/d nominal (2.1 Bcf/d peak) since November 2021. The capacity additions included a sixth train at the Sabine Pass LNG, 18 new mid-scale liquefaction trains at the Calcasieu Pass LNG, and increased LNG production capacity at Sabine Pass and Corpus Christi LNG facilities. As of July 2022, we estimate that U.S. LNG liquefaction capacity averaged 11.4 Bcf/d, with a shorter-term peak capacity of 13.9 Bcf/d.
International natural gas and LNG prices hit record highs in the last quarter of 2021 and first half of 2022. Prices at the Title Transfer Facility (TTF) in the Netherlands have been trading at record highs since October 2021. TTF averaged $30.94 per million British thermal units (MMBtu) during the first half of 2022. LNG spot prices in Asia have also been high, averaging $29.50/MMBtu during the same period.
