| | | I was watching squawk on the street this morning listening to the CEO of CVX and he said something I found interesting, that as a shareholder I suppose I should have remembered but had forgotten.
Any ways, CVX is building what they term an "energy park" utilizing natural gas down in Texas for a large data center customer, not yet named, for generation to start next year. They are expecting delivery of seven (7) GEV turbines this year for the project.
Part of the press release from 11/12/25:
Chevron is taking a pragmatic, returns-driven approach to New Energies. The company is developing businesses that leverage its core strengths and capabilities, including a large-scale power project in West Texas to support data center growth, as well as renewable fuels, hydrogen, CCUS and lithium businesses.
“Our disciplined approach to investing in new energies positions us to deliver competitive returns and keep pace with the evolving market,” said Jeff Gustavson, president of Chevron New Energies. “We are excited about our new power business, where we have an early-mover advantage and look forward to providing the power required to support U.S. leadership in Artificial Intelligence.”
The thing that I didn't know and found interesting is this energy park will be completely independent from the energy grid.
Long CVX |
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