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Chevron Corporation is an integrated energy company in the United States. One of the largest corporations in the world.
The company ranks 5th in the Fortune Global 500. Included in the Fortune 1000 list at the end of 2005
Chevron, the second largest oil company in the United States, is located in San Ramon, California. Chevron is engaged in the production of oil, gas, projects in the field of geothermal power, manages refineries, wells and electricity production facilities around the world.
Representative offices in more than 100 countries, under the management of 24 thousand branches, the number of employees - more than 60 thousand people.
Financial performance
2024: Lower profits and a plan to lower capital spending amid lower oil prices
Chevron will cut capital spending in 2025 for the first time since the COVID-19 pandemic, cutting its plans to expand shale production just as Donald Trump takes office with a promise to "drill, drill, drill."
This is the first time Chevron has cut costs since 2021, when producers experienced a collapse in energy demand caused by the pandemic, and this comes amid lower oil prices due to fears of oversupply in the global market.
Falling profits for oil companies are putting pressure on investor payouts. Big Oil's Q4 2024 profit was the lowest in more than three years.
Oil markets expect uncertain prospects caused by the return of Donald Trump to the post of President of the United States.
2023
2022
The rise of profits against the background of the conflict in Ukraine
Oil majors are making record profits as the world suffers from high fuel prices. In the second quarter of 2022, Big Oil may receive a record profit of $50 billion.
ExxonMobil, Chevron,, and will Shell TotalEnergies BP make even more money than in 2008, when world oil prices jumped to $147 dollars a barrel.
19.7% of oil production in Kazakhstan
2020: Among the largest oil and gas companies in the world
2019: Oil production - 146.8 million tonnes, or 20% of total U.S.
Business in Russia
In Russia, there is a representative office of Chevron Neftegaz, Inc.
127051, Moscow, Rakhmanovsky Lane, 4. Tel: + 7.495.258.2700 Fax: + 7.495.258.2727
Chevron does not intend to stop pumping oil from Kazakhstan through Russian territory, said Mike Wirth, chairman of the company's board of directors, in an interview with Fox News in December 2022.
History
2025
Chevron gets 90% stake in two offshore oil sites in Guinea-Bissau
In 2025, the American oil giant Chevron begins expansion in Guinea-Bissau. The National Oil Company, apparently, is participating in the deal simply for beauty.
Chevron's subsidiary received a 90% stake in license areas 5B (Karapau) and 6B (Peixe Espada) on the ocean shelf of Guinea-Bissau. The state, as in the good old days, remains only 10%. All necessary consents have already been obtained, which indicates the maximum loyalty of local authorities. Unlike Equatorial Guinea, Bissau did not even have to persuade anyone for a long time.
US sanctions blackmail leads to agreement with Equatorial Guinea on gas supplies
September 12, 2025 Theodorin Nguema Obiang confirmed the conclusion of a major agreement with the American corporation Chevron. After two years of negotiations, the parties agreed to transport gas from Block I to the Punta Europa terminal for processing.
The agreement coincided with the decision of the US authorities to ease sanctions against Teodorin himself. The Washington leadership issued a month-long relief, allowing him to go to a UN session in New York, as well as visit Miami and Los Angeles, cities where villas and cars were previously confiscated from him as part of anti-corruption investigations. See Equatorial Guinea for details.
The US is cancelling a "concession agreement" with Venezuela. Chevron's production in the country is in doubt
Main article: Oil production in Venezuela
At the end of February 2025, the president USA Donald Trump announced the cancellation of the "concession agreement" of November 2022 regarding Venezuelan oil. Only Chevron had a license to work in the country's oil sector at this time.
At the same time, on February 18, information appeared in the media that Chevron replaced equipment at individual fields and strengthened the power supply to its drilling platforms, planning to increase oil exports to the highest level in seven years.
According to some reports, this was done following negotiations between the American envoy Richard Grenell and President Venezuela Nicolas Maduro. It is extremely doubtful that the company and investors would decide to increase spending, install equipment and other things without confidence that someone would buy the oil produced, wrote Fisherman"."
2024
Moving headquarters from California to Texas
In July 2024, it was announced that oil company Chevron would move its headquarters from California to Texas, becoming the latest corporate renegade amid a standoff between the state and its business community over bureaucratic delays.
Investing in Peripheral Computing Developer Zededa
In February 2024, it became known about investing $72 million in Zededa. The funding round was led by Smith Point Capital, a venture capital fund created by former Salesforce CEO Keith Block. Read more here.
2023
Purchase of Hess for $53 billion with fields in Guyana
In October 2023, Chevron agreed to purchase Hess in a deal worth $53 billion, the last major consolidation in the US oil industry.
Thus, Chevron gained access to the largest oil fields in Guyana, which is already called one of the "most promising assets" in the company's portfolio.
This is the second major deal in the US oil industry in the last few weeks. Exxon Mobil agreed to buy for $58 billion Pioneer Natural Resources Co., which produces shale oil, which confirms confidence that oil and gas will remain the main ones in the global energy balance for several more decades.
Chevron bought PDC Energy
On May 22, 2023, the American energy corporation Chevron announced the conclusion of an agreement on the acquisition of the oil and gas company PDC Energy. The total amount of the transaction will be more than $7.5 billion. Read more here.
Chevron sent the first ships with oil produced in Venezuela to the United States
Chevron in January 2023 sent the first ships with oil produced in Venezuela to the United States.
Creation of Ras Laffan Petrochemicals with Qatar Energy
On January 8, 2023, Qatar Energy and Chevron Phillips Chemical signed agreements for $6 billion to develop a joint oil and gas chemical project in the city of Ras Laffan, which will become the largest of its kind in the Middle East. The project will optimize the utilization of ethane manufactured at the liquefied natural gas plant. The new company was named Ras Laffan Petrochemicals. Read more here.
2022: US authorities allow Chevron to resume oil and petroleum products supplies from Venezuela to reduce Russian exports after the outbreak of conflict in Ukraine
In November 2022, the US authorities allowed the American company Chevron to resume deliveries of oil and oil products from Venezuela. The decision was made against the background of the conflict in Ukraine and attempts to reduce oil exports from Russia.
2020: Chevron buys rival Noble Energy for $5bn
In July 2020, the American Chevron, one of the largest oil and gas companies in the United States, agreed to buy another company from this sector - Noble Energy, Chevron said in a statement.
Settlement of the transaction will be carried out in shares. So, in accordance with the terms of the agreement, Noble Energy shareholders will receive 0.1191 Chevron shares for each Noble Energy share. After the deal closes, Noble Energy shareholders will own approximately 3% of the combined company.
The value of the transaction is estimated at 5 billion dollars or 10.38 dollar in terms of share. "The total value of the deal, including debt, is $13 billion," the company adds.
1957
1879: Founding of Pacific Coast Oil Company
The company was founded in California in 1879 under the name Pacific Coast Oil Company.
Stock price dynamics
| Ticker company on the exchange: | NYSE:CVX |
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