HOUSTON—Oil major Chevron Corp. on Tuesday expanded its share buyback program and laid out plans to add 750,000 barrels of oil and gas per day to its U.S. production on gains from the country’s shale basins and the Gulf of Mexico.
U.S. oil companies have been moving more of their investments to the Americas to reduce costs and pare geopolitical risks, amid pressure from the White House for more in-country production.
Chevron told investors at an annual presentation that it plans to raise global output at a 3 percent annual rate through 2027. The No. 2 U.S. oil producer delivered 3 million barrels of oil and gas per day last year….