The company increased its target for shareholder returns through share repurchases and dividends from $10-12 billion to $13-15 billion from July 2022 through year-end 2024. They also plan to return at least 50% of net cash provided by operating activities to shareholders.

The company is focused on growing its integrated natural gas liquids (NGL) wellhead-to-market value chain, as evidenced by the increased economic interest in DCP LP and planned capital expenditures in the Midstream segment.

The company plans to monetize certain non-core assets with expected proceeds of over $3 billion, which will be used to further strategic priorities, including shareholder returns.

The company exceeded its initial cost savings target and is now targeting a run-rate cost reduction of $1.1 billion per year by the end of 2024.

Worldwide refining crude oil capacity utilization rate was 92% in 2023, indicating effective management of refinery operations.

The company is in the process of integrating the operations of DCP Midstream Class A Segment to enable the capture of commercial and operational synergies.

The company's financial results are largely affected by the relationship between the prices at which they sell refined petroleum, petrochemical and plastics products and the prices for crude oil and other feedstocks, which are subject to numerous factors beyond their control.

The company's operations are subject to planned and unplanned downtime, business interruptions and operational hazards, any of which could adversely impact their ability to operate and impact their financial condition.

The company's information technology and infrastructure are vulnerable to attacks and breaches, which could compromise their information and expose them to liability.

The company competes with companies that obtain feedstocks from their own production and have more extensive retail outlets, which may allow them to offset losses from refining operations with profits from producing or retailing operations.

The company faces volatility in market demand for petrochemical and plastics products and midstream transportation services, and the risk of overbuild in these industries could negatively impact their results of operations.

Some of the company's competitors have materially greater financial and other resources, which gives them a greater ability to bear the economic risks inherent in all aspects of the business.

The company is focused on optimizing utilization rates and product yield at their refineries through reliable and safe operations, and is also planning low-capital, higher-return projects to increase asset reliability, improve market capture and reduce costs.

The company is continuing its multi-year business transformation aimed at sustainably reducing its cost structure, with a new target of $1.1 billion per year by the end of 2024.

The company's operations are subject to supply chain disruptions that may affect their ability to manufacture, process, store or transport products.

The company's Energy Research & Innovation organization is focused on developing new technical solutions focused on advancing their business and solving future energy challenges, including renewables processing.

The company's research and development efforts are subject to a multitude of factors and conditions, many of which are out of their control, such as evolving government regulation and the pace of changes in technology.

The company's investment in NOVONIX supports an expansion of synthetic graphite production capacity at NOVONIX's Chattanooga, Tennessee, plant.

The company has increased its target for shareholder returns through share repurchases and dividends from $10-12 billion to $13-15 billion from July 2022 through year-end 2024.

The company's capital spending is focused on growth projects in the Midstream and Chemicals segments, as well as capital-efficient renewable fuels projects.

The company plans to monetize certain non-core assets with expected proceeds of over $3 billion, which will be used to further advance strategic priorities, including shareholder returns.

The company has announced targets to reduce Scope 1 and Scope 2 GHG emissions intensity from operations by 50% by 2050, and Scope 3 GHG emissions intensity of energy products by 15% by 2030.

The company emphasizes safety and has a combined workforce total recordable rate of 0.12, which is 25 times better than the U.S. manufacturing average.

The company faces increasing pressure regarding its ESG disclosures and practices, and may lose investors, have its stock price negatively impacted, or have its access to capital markets and lenders curtailed if it is unable to meet E&S standards set by investors.

The company's financial results are largely affected by the relationship between the prices at which they sell refined petroleum, petrochemical and plastics products and the prices for crude oil and other feedstocks, which are subject to numerous factors beyond their control.

The company is subject to numerous environmental laws and regulations, and the adoption of climate change legislation or regulation could result in increased operating costs and reduced demand for refined petroleum products.

Developments aimed at reducing GHG emissions and societal attitudes toward traditional transportation fuels may decrease demand or increase the cost for the company's products.