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flag Chevron cuts 2025 budget to $14.5-$15.5B, focusing on high-return, lower-carbon projects.

flag Chevron plans to spend between $14.5 billion and $15.5 billion in 2025, a $2 billion reduction from the previous year, focusing on high-return and lower-carbon projects to enhance free cash flow. flag The budget includes $1.7 to $2 billion for affiliate spending and $13 billion for upstream investments, with about two-thirds dedicated to the U.S. portfolio. flag The company also anticipates a restructuring charge of $0.7 to $0.9 billion.

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