CVX

Chevron is exploring the divestment of mature offshore assets in the U.S. Gulf, including Petronius, Tubular Bells, and Llano, potentially generating approximately $1 billion. The company is redirecting capital toward higher-growth projects like Anchor and Ballymore to reach 300,000 barrels of oil equivalent per day by 2026. The initiative remains in preliminary stages with no certainty of completion.

With crude oil prices climbing amid geopolitical tensions, three major energy companies—Chevron, Diamondback Energy, and APA Corporation—are positioned to benefit from higher oil prices. Chevron reported 20% production growth and record refinery throughput, Diamondback generated $2.3 billion in free cash flow with raised 2026 guidance, and APA exceeded oil production guidance with $738 million in free cash flow. However, benefits depend on production volumes, operating costs, and hedging strategies.

The Onward FX program has selected 173 startups from nearly 800 applicants for its first cycle focused on the physical economy. The event on October 27 in Little Rock will feature curated meetings between founders and 44 investors including Eclipse, In-Q-Tel, Chevron Technology Ventures, and others. Historically, one in four participating startups secures a term sheet, with investor interest concentrated on industrial AI, critical materials processing, and dual-use hardware.