Chevron (CVX) expects to increase 2011 production 1% to about 2.79 million barrels of oil equivalent per day. The forecast assumes oil at $79/barrel. UBS said the guidance is in line with analysts estimates and previous guidance. CVX production will be driven by startups of Caesar/Tonga project in the Gulf of Mexico , Platong Gas II offshore Thailand and Agbami II in Nigeria . CVX expects to sanction Wheatstone LNG in Australia , Block B gas in Vietnam and Clair Ridge Field in the U.K. this year. Shares off 1% at $93.85.

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