Chevron Partners with Microsoft on Power Project
On June 10, 2023, Chevron’s subsidiary Energy Forge One signed a 20-year power purchase agreement with Microsoft to supply electricity for a data center in Reeves County, Texas, through Project Kilby. The agreement is projected to reach a capacity of approximately 2.67 gigawatts, enough to power over 530,000 Texas homes.
Chevron is also expanding its investments, planning to invest $7 billion in Venezuela over the next five years to increase oil production to 600,000 barrels a day. The company has raised its quarterly dividend payout to $1.78 per share, yielding approximately 3.4%, which is more than double the Dow’s average yield of 1.5%.
5 Stocks Our Experts Predict Could Double In the Next Year
By submitting your email, you'll also get a free pivot & flow membership. A free daily market overview. You can unsubscribe at any time.
