Chevron's 1st quarter production expands [Yahoo! Finance]
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Source: Yahoo! Finance
Reporting first quarter results from headquarters in San Ramon, Calif., Chevron Chairman-CEO Mike Wirth added that the company's adjusted return on capital employed was above 12 percent and it returned $6 billion in cash to its shareholders. "We also grew production by more than 10 percent from the same quarter last year and announced final investment decisions to grow our renewable fuels and hydrogen businesses," Wirth said. "We announced our third Future Energy Fund focused on venture investments in lower-carbon technologies. "The merger with Hess is advancing and we intend to certify substantial compliance in the coming weeks." Wirth said Chevron's Tengizchevroil project in Kazakhstan achieved start-up of its water pressure management project in April with the first inlet separator and pressure boost compressor going into service and with the conversion of the first metering station to low pressure being complete. "Later this quarter we expect a second pressure boost compr
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