Fueling Economic Growth George Kirkland Vice Chairman and EVP Upstream, Chevron Barclays CEO Energy-Power Conference September 11, 2013 2013 Chevron
Economic Growth Requires All Forms of Energy Global Energy Demand Global Energy Demand Elements Million Barrels Oil Equivalent Per Day Million Barrels Oil Equivalent Per Day 400 120 350 45% Non-OECD 100 Oil and 300 Demand…
Significant New Oil Production Required Global Liquids Supply and Demand Over 390 Billion barrels Million Barrels Oil Per Day of new oil production by 120 Global Liquids Demand 2035 100 80 New Production New oil production…
New Supplies Needed to Meet LNG Demand Global LNG Supply and Demand Million Tonnes Per Year 500 Demand 400 150 MTPA new supply needed 300 Under Construction 200 Recent Additions 100 Historic 0 2000 2013 2025 Source:…
Growing Role of Shale and Tight Resources Global Natural Gas Supply Trillion Cubic Feet Per Year 2010 2035 14% 13% 18% 111 TCF Conventional N.A. Unconventional* 173 TCF Intl Unconventional* *Includes Shale Gas, Tight…
Global Sources Drive Supply Combined Oil and Natural Gas Resources Remaining Recoverable Resources Trillion Barrels of Oil Equivalent 1.8 0.3 2.0 0.1 0.2 0.4 1.4 1.9 0.9 1.3 0.7 1.0 0.9 0.2 0.7 0.6 1.2 0.2 0.4 Oil 0.8…
Industry Costs and Backlog Rise Supplier and Contractor Backlog Capital costs rising with B 1Q 2008 1Q 2013; Index 1Q00=100 demand 250 IHS Capital Cost Index 200 New orders and backlogs remain high - current 150 backlog value…
Can Industry Meet the Supply Challenge Abundant global resources available Increasing development complexity Driven by advances in technology Long timeframe from discovery to development 2013 Chevron 9
Chevron is Well Positioned for the Future 25% production growth to 2017further growth beyond Continue to add resources through exploration and acquiring early entry DROs Industry leading earnings and cash margins Leading…
Differentiated Operational Excellence OE ensures safe, reliable and Total Days Away From Work Rate Incidents per 200,000 worked hours efficient operations 0.20 Protects people, property, 0.10 and the environment 2 2 1 1 1…
Superior Financial Performance 1H 2013 Earnings per Upstream Adjusted Earnings Per Barrel /BOE barrel of 23.88 30 1 Chevron outperformed 1 1 1 nearest E&P and IOC 20 1 by 4 to 6 per bbl 2 10 Leading performance driven by…
Advantaged Major Capital Project Portfolio High quality project queue 50 Project startups to 2017 250MM net Chevron Share 90 Projects in queue 250MM net Chevron Share 2013 Chevron 13
Robust Pipeline of Growth Opportunities Kitimat LNG Central Europe Shale and Duvernay West of Shetlands Tengiz Future Growth Marcellus & Utica Permian Basin Morocco China Shale & GOM Shelf & Sierra Offshore Leone Wafra…
Growth to 2017 and Beyond Leading earnings and Estimated Cash Generation Cash Flow from Operations, Billions cash margins 50 Strongest future volume growth 40 30 Projects accretive to future cash margins 20 10 Enhanced…
Strong Cash Flow Supports Investments Upstream Reinvestment Ratio High cash margin C&E as percent of Upstream Cash Flow allows for robust 160 reinvestment program 140 120 Activity level reflects 100 high quality growth 80…
Leading Cash Margin Position Future investments are Cash Flow Margin Price Sensitivity Adjusted Upstream Cash Margin /BOE accretive to cash 50 margins 40 Further differentiation 30 from competitor group 20 expected 10…
Key Messages World energy growth provides opportunities Chevron strategies aligned with macro environment Focus remains on value and execution Long-term growth driven by a strong queue Industry leading financial results…
Discussion Jack St. Malo and Big Foot Hulls Ingleside, TX 2013 Chevron
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