Chevron’s Five-Year Plan Prioritizes Superior Shareholder Returns

Chevron plans to grow its free cash flow into the next decade as it focuses on higher profits and returns to shareholders instead of growing oil and production, the U.S. supermajor’s five-year plan to 2030 showed on Wednesday.    Chevron will raise output, but its primary focus will be on boosting free cash flow and earnings per share via deeper cost cuts, synergies from the Hess acquisition, and reduced capital expenditure (capex).   “Chevron expects to maintain capital and cost discipline while investing to…