U.S. Shale Oil Boom Shifts from Money Treadmill to Cash Cow, Says Chevron President

Chevron has shifted from aggressive growth in U.S. shale to focusing on profitability and efficiency, leveraging scale and technology to turn shale into a cash-generating asset, while expanding internationally through acquisitions like Hess and offshore projects in Guyana, aiming to stabilize U.S. production and prioritize shareholder returns.