In October 2024, Chevron announced that Chevron Canada Limited and its related entity entered into a definitive agreement to sell their 20 percent non-operated interest in the Athabasca Oil Sands Project and 70 percent operated interest in the Duvernay shale in Alberta, Canada, to Canadian Natural Resources Limited for $6.5 billion before taxes.

Chevron is working to complete the merger with Hess Corporation as soon as practicable. The merger is subject to conditions beyond each company's control, including satisfactory resolution of ongoing arbitration proceedings and regulatory approvals.

The company is targeting $10-15 billion of asset sales over the 5-year period ending in 2028. Asset dispositions and restructurings may result in significant gains or losses in future periods.

The company recently announced plans to achieve $2-3 billion in structural cost reductions by the end of 2026, largely from optimizing the portfolio, leveraging technology, and changing how and where work is performed.

Chevron has been conducting limited activities in Venezuela consistent with the authorization provided pursuant to general licenses issued by the United States government, which has positively impacted the company's results.

Tengizchevroil LLP (TCO) continues to make progress on the Future Growth Project with start-up expected in the first-half of 2025.

Governmental and other plaintiffs have brought legal proceedings against fossil fuel producing companies, including Chevron entities, purporting to seek legal and equitable relief to address alleged impacts of climate change. Due to the unprecedented nature of the suits, the company is unable to estimate any range of possible liability.

Seven coastal parishes and the State of Louisiana have filed lawsuits against numerous oil and gas companies seeking damages for coastal erosion. Due to the unprecedented nature of the suits, the company is unable to estimate any range of possible liability.

Chevron may not complete the acquisition of Hess Corporation within the time frame the company anticipates or at all, which could have adverse effects on Chevron. The completion of the acquisition of Hess Corporation (Hess) is subject to a number of conditions.

The company closely monitors developments in the countries in which it operates and holds investments and seeks to manage risks in operating its facilities and businesses.

Chevron will continue to maintain flexibility in its portfolio to be responsive to changes in policy, technology, and customer and consumer preferences.

Third party costs for capital and operating expenses can be subject to external factors beyond the company's control including, but not limited to: severe weather or civil unrest, delays in construction, global and local supply chain distribution issues, inflation, tariffs or other taxes imposed on goods or services, and market-based prices charged by the industry's material and service providers.

Chevron has applied inflation mitigation strategies to temper these cost increases, including fixed price and index-based contracts.

Chevron has addressed equipment cost increases and long lead times by partnering with suppliers on demand planning, volume commitments, standardization, and scope optimization.

The company is actively managing its contracting, procurement, and supply chain activities to effectively manage costs and facilitate supply chain resiliency and continuity in support of the company's operational goals.

The company recently announced plans to achieve $2-3 billion in structural cost reductions by the end of 2026. These cost savings will largely come from optimizing the portfolio, leveraging technology to enhance productivity, and changing how and where work is performed, including expanded use of global capability centers.

Announced the establishment of an engineering and innovation center in India to provide technical and digital solutions for the enterprise.

Chevron believes that the future of energy is lower carbon. The company will continue to maintain flexibility in its portfolio to be responsive to changes in policy, technology, and customer and consumer preferences.

Chevron expects share repurchases in the fourth quarter 2024 to be between $4.0-$4.75 billion.

In the aggregate, the company has repurchased 141.4 million shares for $21.9 billion under the 2023 Program, including 32.2 million shares repurchased for $4.7 billion in third quarter 2024.

The company paid dividends of $8.9 billion to common stockholders during the first nine months of 2024. In October 2024, the company declared a quarterly dividend of $1.63 per common share, payable in December 2024.

Chevron supports the Paris Agreement's global approach to governments addressing climate change and continues to take actions to help lower the carbon intensity of its operations while continuing to meet the demand for energy.

Chevron integrates climate change-related issues and the regulatory and other responses to these issues into its strategy and planning, capital investment reviews, and risk management tools and processes, where it believes they are applicable.

Australia - Received an offshore greenhouse gas assessment permit, covering an area of approximately 8,467 km², to assess future CO2 storage.

The company closely monitors developments in the financial and credit markets, the level of worldwide economic activity, and the implications for the company of movements in commodity prices and downstream margins.

The company closely monitors developments in the countries in which it operates and holds investments and seeks to manage risks in operating its facilities and businesses.

Third party costs for capital and operating expenses can be subject to external factors beyond the company's control including, but not limited to: severe weather or civil unrest, delays in construction, global and local supply chain distribution issues, inflation, tariffs or other taxes imposed on goods or services, and market-based prices charged by the industry's material and service providers.