Chevron Sees Energy Comeback in U.S.

Chevron executive Bruce Niemeyer says that U.S. energy is making a comeback, citing the return of lease sales in the Gulf and increased production in the Permian Basin.

In a speech to the 2017 Executive Oil Conference, Niemeyer highlighted the record-high oil production in the second quarter and the company's ability to process 1 million barrels of oil through its refineries into gasoline, diesel, and jet fuel.

Niemeyer emphasized the importance of reliable operations upstream and downstream, given the global turmoil caused by the war with Iran. He noted that technology and innovation across the industry have helped meet energy needs.

Chevron's work in the Permian Basin is crucial to both the country and the world, according to Niemeyer. The company has been innovating on its acreage there, and personnel are applying lessons from the Permian to other basins like the Denver-Julesburg and Bakken.