Chevron plans to keep boosting oil-and-gas production through 2030. It is also becoming more serious about entering the power business. 

As part of an annual presentation to investors Wednesday, the second-largest U.S. oil producer said it is aiming to bring online by 2027 a power plant that would service an artificial-intelligence data center in the West Texas shale patch, where it pumps natural gas.

Chevron Chief Financial Officer Eimear Bonner said the company has “entered exclusive negotiations with a premier customer” for the power project. The project is expected to provide 2.5 gigawatts of off-grid power—enough to power almost 2 million homes—with the ability to expand to 5 gigawatts if demand warrants.

Read more in the Wall Street Journal here.

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