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3Q 2021 Investor Presentation – Chevron Corp

Chevron Corp · Oct 29, 2021 · 23 slides

Investor presentation from the Shale Experts oil & gas presentation and slide database. Every page is imaged and its text indexed for search across operators, plays, basins and time.

Slides

  1. 3Q 2021 Investor Presentation – Chevron Corp – slide 1
    Third quarter 2021 earnings call Mark Nelson Executive Vice President, Downstream & Chemicals Pierre Breber Vice President and Chief Financial Officer Roderick Green General Manager, Investor Relations October 29, 2021 2021…
  2. 3Q 2021 Investor Presentation – Chevron Corp – slide 2
    Financial highlights 3Q21 Earnings / Earnings per diluted share 6.1 billion / 3.19 Adjusted earnings / EPS1 5.7 billion / 2.96 Cash flow from operations / excl. working capital 1 8.6 billion / 9.0 billion Total C&E / Organic…
  3. 3Q 2021 Investor Presentation – Chevron Corp – slide 3
    Delivering on financial priorities Chevron cash flow Cash capex & opex 3Q21 vs. 2Q21 quarterly average 12 4 CFFO ex. WC WC Cash MMBOED capex billions -0.4 6 3 Dividends -1.9 Share repurchases More cost efficient…
  4. 3Q 2021 Investor Presentation – Chevron Corp – slide 4
    Chevron earnings 3Q21 vs. 3Q20 millions Upstream Downstream Other Opex / Other Chemicals other Timing Tax / Margins3 Liftings DD&A effects other -199 323 Volumes 345 Realizations -225 245 600 -427 100 940 6,111 FX1…
  5. 3Q 2021 Investor Presentation – Chevron Corp – slide 5
    Chevron earnings 3Q21 vs. 2Q21 millions Upstream Downstream Other Other Margins2 Chemicals Other Timing Other Volumes effects -30 19 634 Realizations Liftings 5 30 330 -40 325 Special FX1 items1 1,140 262 6,111 354…
  6. 3Q 2021 Investor Presentation – Chevron Corp – slide 6
    Worldwide net oil & gas production 3Q21 vs. 3Q20 MBOED External Base / Curtailments events Asset Noble other Turnarounds Entitlement sales -25 effects 107 -39 -59 -72 -96 382 + Lower OPEC+ and market driven curtailments -…
  7. 3Q 2021 Investor Presentation – Chevron Corp – slide 7
    Strong downstream and chemicals results Product sales1 Adjusted downstream earnings & ROCE2 % change vs 2019 excl. timing effects3 40% billions diesel 1.0 20% 0.8 0% Improving macro 0.6 gasoline -20% Driving self-help 0.4…
  8. 3Q 2021 Investor Presentation – Chevron Corp – slide 8
    Disciplined petrochemical business Performance Projects Meeting strong demand GS Caltex reached 100% design capacity Operating reliably USGC II increasing capital and cost efficiency Cost management focus Ras Laffan progressing…
  9. 3Q 2021 Investor Presentation – Chevron Corp – slide 9
    Advancing lower carbon actions Renewable Renewable diesel & Renewable natural gas sustainable aviation fuel base oil & lubricants Joint venture with Mercuria El Segundo NEXBASETM agreement Equity interest in ANG SAF sold to…
  10. 3Q 2021 Investor Presentation – Chevron Corp – slide 10
    Updated climate change resilience report Stress-testing our portfolio under IEA NZE 2050 Target 5% PCIi reduction by 2028 including scope 1, 2 and 3ii Net zero 2050 aspiration for Upstream scope 1 & 2 emissions i: PCI…
  11. 3Q 2021 Investor Presentation – Chevron Corp – slide 11
    Looking ahead Forward guidance 4Q21 Turnarounds & Downtime (60) MBOED UPSTREAM ALNG Return of Capital 300MM TCO Dividend 0.7 - 1.2B Refinery turnarounds: DOWNSTREAM (50) - (150)MM A/T earnings Share repurchase: 750MM…
  12. 3Q 2021 Investor Presentation – Chevron Corp – slide 12
    Chevron poised to deliver higher returns, lower carbon Improving Lowering Downside resilience & returns carbon upside leverage Updated 18.7% 13.3% adj. ROCE climate change resilience report net debt ratio 60 CNG stations…
  13. 3Q 2021 Investor Presentation – Chevron Corp – slide 13
    questions + answers 2021 Chevron Corporation 14 That concludes our prepared remarks. We are now ready to take your questions. Please try to limit yourself to one question and one follow-up. We will do our best to get all your…
  14. 3Q 2021 Investor Presentation – Chevron Corp – slide 14
    Appendix: reconciliation of non-GAAP measures Reported earnings to adjusted earnings 1Q20 2Q20 3Q20 4Q20 FY20 1Q21 2Q21 3Q21 FY21 Reported earnings ( millions) Upstream 2,920 (6,089) 235 501 (2,433) 2,350 3,178 5,135 10,663…
  15. 3Q 2021 Investor Presentation – Chevron Corp – slide 15
    Appendix: reconciliation of non-GAAP measures Cash flow from operations excluding working capital Free cash flow Free cash flow excluding working capital millions 3Q08 1Q11 3Q21 Net Cash Provided by Operating Activities 9,113…
  16. 3Q 2021 Investor Presentation – Chevron Corp – slide 16
    Appendix: reconciliation of non-GAAP measures ROCE Adjusted ROCE millions 3Q21 millions 3Q21 Total reported earnings 6,111 Adjusted earnings 5,687 Non-controlling interest 4 Non-controlling interest 4 Interest expense (A/T) 162…
  17. 3Q 2021 Investor Presentation – Chevron Corp – slide 17
    Appendix: reconciliation of non-GAAP measures Operating expenditures excluding special items Net debt ratio millions 3Q21 FY 2018 FY 2019 2018-2019 YTD 2021 millions FY 2018 FY 2019 Quarterly Avg. Quarterly Avg. Quarterly Avg.…
  18. 3Q 2021 Investor Presentation – Chevron Corp – slide 18
    Appendix: reconciliation of non-GAAP measures Adjusted downstream earnings excluding timing effects Adjusted downstream earnings excluding timing effects ROCE 3Q21 3Q21 2019 2020 2019 2020 YTD YTD millions millions Adjusted…
  19. 3Q 2021 Investor Presentation – Chevron Corp – slide 19
    Worldwide net oil & gas production 3Q21 vs. 2Q21 MBOED Base / External other events Turnarounds 34 -47 -80 - Hurricane Ida - TCO turnaround 3,126 3,034 3,121 2Q21 3Q21 69/bbl 74/bbl Brent Brent Note: Numbers may…
  20. 3Q 2021 Investor Presentation – Chevron Corp – slide 20
    Appendix U.S. upstream earnings: 3Q21 vs. 2Q21 millions Realizations Liftings Other -100 Special -129 items* 425 Gain on sale of Permian assets 320 Higher realizations Lower production from Hurricane Ida 1,962 1,446…
  21. 3Q 2021 Investor Presentation – Chevron Corp – slide 21
    Appendix International upstream earnings: 3Q21 vs. 2Q21 millions Timing Other effects 139 Realizations Liftings 60 320 Higher realizations FX Favorable LNG timing effects 715 207 3,173 1,732 2Q21 3Q21 earnings…
  22. 3Q 2021 Investor Presentation – Chevron Corp – slide 22
    Appendix U.S. downstream earnings: 3Q21 vs. 2Q21 millions Timing effects Chemicals Other Margins* -15 -48 90 Volumes Higher refining & marketing 255 margins 25 Favorable timing effects: 1,083 3Q21: 46 776 Absence of…
  23. 3Q 2021 Investor Presentation – Chevron Corp – slide 23
    Appendix International downstream earnings: 3Q21 vs. 2Q21 millions Timing effects Chemicals Opex / other -15 Margins Higher refining margins 75 Higher operating costs FX Volumes -98 75 Favorable timing effects: 5 3Q21:…

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