Chevron Corporation
Chevron Announces Q3 2024 Earnings of $4.5 Billion
Summary
Chevron Corporation reported unaudited third-quarter 2024 earnings of $4.5 billion, a decrease from $6.5 billion in the same period last year. The company attributed the decline to lower margins on refined product sales, lower realizations, and the absence of prior year favorable tax items. Despite the decrease, Chevron maintained strong operational performance, with worldwide net oil-equivalent production increasing by 7% from the previous year. The company also returned a record $7.7 billion to shareholders through share repurchases and dividends. A detailed news release is furnished as Exhibit 99.1.
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About Chevron Corporation
Chevron Corporation is an integrated energy company operating globally in the exploration, production, and transportation of crude oil and natural gas. Its primary function is to harness energy resources, converting them into products essential for modern life. Chevron covers upstream operations such as oil exploration and drilling, and downstream processes including refining, distribution, and marketing of refined petroleum products. Additionally, Chevron invests in renewable energy projects, aiming to create a balanced energy portfolio. As one of the major players in the oil and gas industry, Chevron significantly impacts sectors including manufacturing, transportation, and energy production. Headquartered in San Ramon, California, this multinational corporation plays a pivotal role in meeting global energy demands and contributes to shaping future energy policies.
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