Chevron has taken a final investment decision to expand production at Israel's Leviathan gas field, significantly increasing natural gas supply to regional markets later this decade.

Shares of both companies have risen over the past year, despite U.S. oil prices ending 2025 down 20% a barrel.

Chevron has taken a final investment decision to expand production at Israel's Leviathan natural gas field, the U.S. oil major said on Friday, in a move that will lift supplies to domestic and regional markets including Egypt and Jordan as demand for Eastern Mediterranean gas grows.

The project is part of the company’s plans to power AI with a suite of natural gas plants in oil fields like the Permian Basin. Chevron announced plans Wednesday to build a massive natural gas plant in West Texas to power data center facilities.

Chevron can't avoid the impact of oil prices on its business. No energy company can. So oil downturns tend to lead to revenue and earnings declines, as well as to stock-price weakness.

The research firm forecasts that Chevron Corporation (NYSE:CVX) will report adjusted earnings per share of $1.45, or about 2% above Wall Street’s expectations. According to Jefferies, investors are expected to focus on topics like developments in Venezuela, production at TCO, an update on the El Segundo fire, and the company’s gas-to-AI outlook.

A pumpjack east of Andrews, Texas, in the heart of the state's Permian Basin, the region's primary oil and gas production area, stands in an area where fossil fuel giant Chevron is launching a move into electricity generation. November 14, 2025 Chevron ...

Installations at the El Palito refinery of Venezuelan state oil company PDVSA, after the National Assembly approved a major reform of the country's main oil law, in Puerto Cabello, Venezuela, January 22,