Insight - Chevron bets on Middle East gas and reconciliation

Big presence: A man pumps petrol into his truck at a Chevron station California. Chevron produces fewer barrels of oil and gas in the region than other majors but it is the only major to have had a continuous presence in Saudi Arabia for 70 years and has maintained good relations with governments in the region. — AFP

AFTER years of focusing on US shale, Chevron Corp is staking its natural gas future on the Middle East where energy majors have long tread warily.

CEO Michael Wirth’s pivot away from home is underpinned by a bet that the Middle East is entering an era of reconciliation that will make it ideal for tapping natural gas, as demand for the cheaper and cleaner fuel is forecast to outstrip oil.