Chevron Is Getting More Serious About Power

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Chevron CVX -2.17%decrease; red down pointing triangle plans to keep boosting oil-and-gas production through 2030. It is also becoming more serious about entering the power business.

As part of an annual presentation to investors Wednesday, the second-largest U.S. oil producer said it is aiming to bring online by 2027 a power plant that would serve an artificial-intelligence data center in the West Texas shale patch, where it pumps natural gas.

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