Chevron Strengthens Portfolio with Libyan Exploration Rights and Dividend Hike

In a dual move highlighting both growth ambitions and shareholder returns, U.S. energy giant Chevron has secured new exploration rights in Libya while announcing an increase to its quarterly cash distribution. The company's shares are trading near their 52-week high, around $185.

Chevron's board of directors has approved a rise in the quarterly dividend, lifting it from $1.71 to $1.78 per share. Based on the current share price, this translates to an annualized yield of approximately 3.9%.

Key Dates for Investors:
* Ex-Dividend Date: February 17, 2026
* Payment Date: March 10, 2026

This decision to boost shareholder payouts reflects the firm's robust cash flow generation, which was recently underscored in its Q4 earnings report by record production volumes from the Permian Basin.

Strategic Entry into a Key African Basin

Simultaneously, Chevron has expanded its upstream portfolio through its subsidiary, Chevron Business Development EMEA Ltd. The unit was awarded the rights to Contract Area 106 in Libya's resource-rich Sirte Basin. This award is part of Libya's 2025 licensing round and follows a memorandum of understanding signed with the state-owned National Oil Corporation (NOC) on January 24, 2026.

Kevin McLachlan, Chevron's head of exploration, described the acquisition as a strategic addition to the portfolio, featuring "high-quality acreage and prospective opportunities." The Sirte Basin is recognized as one of North Africa's most hydrocarbon-rich regions, holding substantial proven oil reserves. The move aligns with Chevron's strategy of securing long-life, resilient upstream assets.

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Market Context and Additional Developments

The combination of a new exploration foothold and an increased dividend is reinforcing positive sentiment around Chevron's equity. This sets the company apart from some industry peers who are facing challenges in replenishing their reserves.

In a separate announcement this week, Chevron's Delo @ boerse-global.de | US1667641005 CHEVRON