Articles from Chevron Corporation

Chevron Corporation (NYSECVX) reported earnings of $3.2 billion ($1.84 per share - diluted) for fourth quarter 2024, compared with $2.3 billion ($1.22 per share - diluted) in fourth quarter 2023. Included in the quarter were severance charges of $715 million and impairment charges of $400 million. Foreign currency effects increased earnings by $722 million. Adjusted earnings of $3.6 billion ($2.06 per share - diluted) in fourth quarter 2024 compared to adjusted earnings of $6.5 billion ($3.45 per share - diluted) in fourth quarter 2023. See Attachment 4 for a reconciliation of adjusted earnings.

Engine No. 1 and Chevron U.S.A. Inc. (NYSECVX) announced today the formation of a partnership to build a new company to develop scalable, reliable power solutions for United States (U.S.) based data centers running on U.S. natural gas. Early actions of the Trump Administration are setting the critical foundation to encourage investment leveraging America’s energy abundance to enable America’s AI leadership. The joint development, in conjunction with GE Vernova NYSE: GEVNYSEGEV)

Chevron Corporation (NYSECVX) announced today that its 50 percent owned affiliate Tengizchevroil LLP (TCO) has started oil production at its Future Growth Project (FGP) located at the Tengiz oil field in Kazakhstan.

Chevron Corporation (NYSECVX) today announced a total contribution of $1 million to the California Fire Foundation, American National Red Cross, and the Los Angeles Chamber of Commerce Small Business Disaster Recovery Fund to support relief efforts for wildfires in California.

Brightmark RNG Holdings LLC announced today that it has delivered first gas at 10 renewable natural gas (RNG) projects across the Midwest. Brightmark RNG Holdings LLC is a joint venture between Chevron U.S.A. Inc., a subsidiary of Chevron Corporation (NYSECVX), and Brightmark Fund Holdings LLC, a subsidiary of Brightmark LLC.

Chevron Corporation (NYSECVX) today announced Laura Lane will become vice president and Chief Corporate Affairs Officer, effective February 1. Lane will oversee the company’s government affairs, communications, and social investment activities. Lane will be based in Houston and succeed Al Williams, who is retiring in April after 34 years at the company.

Chevron Corporation (NYSECVX) today announced the start of oil production from the Whale semi-submersible platform in the deepwater U.S. Gulf of Mexico. Chevron U.S.A. Inc., a wholly owned subsidiary of Chevron Corporation, owns 40% working interest in Whale, with Shell Offshore Inc. owning 60% interest as operator.

Chevron Corporation (NYSECVX), one of the world’s leading energy companies, will hold its quarterly earnings conference call on Friday, January 31, 2025, at 11:00 a.m. ET (10:00 a.m. CT).

Mike Wirth, Chairman and CEO of Chevron Corporation (NYSECVX), will take part in the Goldman Sachs Energy, CleanTech & Utilities Conference 2025 on Wednesday, January 8, 2025, at 9:00 AM ET, discussing corporate strategy and the company’s primary objective of delivering higher returns, lower carbon and superior shareholder value in any business environment.

Chevron U.S.A., Inc. (CUSA), a wholly owned subsidiary of Chevron Corporation (NYSECVX), has completed a retrofit of its refinery in Pasadena, Texas, which is expected to increase product flexibility and expand the processing capacity of lighter crudes by nearly 15 percent to 125,000 barrels per day.

Chevron Corporation today announced an organic capital expenditure range of $14.5 to $15.5 billion for consolidated subsidiaries (capex) and an affiliate capital expenditure (affiliate capex) range of $1.7 to $2.0 billion for 2025.

Chevron Corporation (NYSECVX) reported earnings of $4.5 billion ($2.48 per share - diluted) for third quarter 2024, compared with $6.5 billion ($3.48 per share - diluted) in third quarter 2023. Foreign currency effects decreased earnings by $44 million. Adjusted earnings of $4.5 billion ($2.51 per share - diluted) in third quarter 2024 compared to adjusted earnings of $5.7 billion ($3.05 per share - diluted) in third quarter 2023. See Attachment 4 for a reconciliation of adjusted earnings.

Chevron today announced a donation of $250,000 to support relief and recovery efforts after Hurricane Milton devastated parts of Florida. The funds will provide support for emergency teams and volunteer efforts.

Chevron Canada Limited, an indirect subsidiary of Chevron Corporation (“Chevron”), announced today that it and a related entity have entered into a definitive agreement to sell their 20 percent non-operated interest in the Athabasca Oil Sands Project, 70 percent operated interest in the Duvernay shale, and related interests, all located in Alberta, Canada, to Canadian Natural Resources Limited.

Chevron Corporation (NYSECVX) today announced a donation of $250,000 to support immediate relief and recovery efforts after Hurricane Helene devastated parts of Florida, Georgia, North Carolina, South Carolina and Tennessee, causing catastrophic flooding and damage. The funds will provide support for emergency team and volunteer efforts.

Chevron Corporation (NYSECVX), one of the world’s leading energy companies, will hold its quarterly earnings conference call on Friday, November 1, 2024, at 11:00 a.m. ET (8:00 a.m. PT).

Chevron Corporation (NYSECVX) today announced the Federal Trade Commission (FTC) completed antitrust review of the company’s merger with Hess Corporation NYSE: HESNYSEHES)

Technology group Wärtsilä, in partnership with Chevron Shipping Company LLC, plans to convert one engine on six of Chevron Transport Corporation Ltd.’s LNG Carriers from dual-fuel (DF) to spark gas (SG) operation. The conversions are intended to reduce greenhouse gas emissions by lowering methane slip in support of Chevron Shipping’s broader efforts to reduce the carbon intensity of its operations. This marine industry first was made possible after two years of collaboration between the companies. The order for the first two vessels was booked by Wärtsilä in Q3 2024.

As part of their ongoing commitment to lower the carbon intensity of their operations, Chevron Shipping Company LLC (Chevron), a subsidiary of Chevron U.S.A. Inc., and Mitsui O.S.K. Lines, Ltd. (MOL) announced an agreement to install Wind Challenger, a hard sail wind-assisted ship propulsion system developed by MOL and Oshima Shipbuilding together (Note 1), to a new build LNG carrier under long term charter from MOL Encean Pte. Ltd. (MOL’s 100% indirectly owned subsidiary) to Chevron Asia Pacific Shipping Pte. Ltd. This vessel will mark the world’s first LNG carrier equipped with Wind-Assisted Ship Propulsion Systems.

Chevron Corporation** (NYSECVX) today announced that it started water injection operations at two projects to boost oil and natural gas recovery at the company’s existing Jack/St. Malo and Tahiti facilities in the deepwater U.S. Gulf of Mexico, where Chevron operations produce some of the world’s lowest carbon intensity oil and gas.

Chevron Corporation (NYSECVX), through its subsidiary Chevron Australia New Ventures Pty Ltd (Chevron), has been awarded a greenhouse gas (GHG) assessment permit offshore Western Australia. The permit award provides further opportunity for Chevron to deliver on its strategy of safely delivering lower carbon energy to a growing world.

Chevron Corporation** (NYSECVX) announced today that it started oil and natural gas production from the Anchor project in the deepwater U.S. Gulf of Mexico. Anchor production marks the successful delivery of high-pressure technology that is rated to safely operate at up to 20,000 psi, with reservoir depths reaching 34,000 feet below sea level.

Chevron Corporation (NYSECVX) today announced the relocation of the company’s headquarters from San Ramon, California, to Houston, Texas, and senior leadership changes.

Chevron Corporation (NYSECVX) reported earnings of $4.4 billion ($2.43 per share - diluted) for second quarter 2024, compared with $6.0 billion ($3.20 per share - diluted) in second quarter 2023. Foreign currency effects decreased earnings by $243 million. Adjusted earnings of $4.7 billion ($2.55 per share - diluted) in second quarter 2024 compared to adjusted earnings of $5.8 billion ($3.08 per share - diluted) in second quarter 2023. See Attachment 4 for a reconciliation of adjusted earnings.

Chevron Corporation (NYSECVX), one of the world’s leading energy companies, will hold its quarterly earnings conference call on Friday, August 2, 2024, at 11:00 a.m. ET (8:00 a.m. PT).

Chevron Corporation (NYSECVX) today provided an overview of the company’s business performance and plans at its 2024 Annual Meeting of Stockholders.

Chevron Pipe Line Company (CPL), a subsidiary of Chevron Corporation, and American Aerospace Technologies, Inc. (AATI) received a first-of-its-kind waiver from the U.S. Federal Aviation Administration (FAA) to conduct unmanned aircraft surveillance in the San Joaquin Valley. The AiRanger Unmanned Aircraft System (UAS) was designed by AATI, a leader in intelligent airborne sensing and surveillance services for energy and other critical infrastructure, to support Beyond Visual Line of Sight (BVLOS) aerial surveillance for Chevron’s pipeline and production facilities.

Chevron Corporation (NYSECVX) reported earnings of $5.5 billion ($2.97 per share - diluted) for first quarter 2024, compared with $6.6 billion ($3.46 per share - diluted) in first quarter 2023. Foreign currency effects increased earnings by $85 million. Adjusted earnings of $5.4 billion ($2.93 per share - diluted) in first quarter 2024 compared to adjusted earnings of $6.7 billion ($3.55 per share - diluted) in first quarter 2023. See Attachment 4 for a reconciliation of adjusted earnings.

Chevron Corporation (NYSECVX) announced today that its 50 percent owned affiliate Tengizchevroil LLP (TCO) has safely commenced operations at its Wellhead Pressure Management Project (WPMP) at the Tengiz oil field in Kazakhstan.

Chevron New Energies (CNE), a division of Chevron U.S.A. Inc., announced a lead investment in ION Clean Energy (ION), a Boulder-based technology company that provides post-combustion point-source capture technology through its third-generation ICE-31 liquid amine system. ION raised $45 million in Series A financing led by CNE. The capital raised will continue to fund ION’s organizational growth and commercial deployment of its ICE-31 liquid amine carbon capture technology for hard-to-abate emissions.

Chevron Corporation (NYSECVX), one of the world’s leading energy companies, will hold its quarterly earnings conference call on Friday, April 26, 2024, at 11:00 a.m. ET (8:00 a.m. PT).

Chevron U.S.A. Inc., a subsidiary of Chevron Corporation (NYSECVX), and the Fab Foundation today announced the official opening of Fab Labs at Fort Valley State University and Florida A&M University (FAMU).

JX Nippon Oil & Gas Exploration Corporation (“JX”; President & CEO: Toshiya Nakahara) and Chevron New Energies (“Chevron”), a division of Chevron U.S.A. Inc., have signed a Memorandum Of Understanding (“MOU”) that provides a framework to evaluate the export of Carbon Dioxide (CO₂) from Japan to Carbon Capture and Storage (CCS) projects located in Australia and other countries in the Asia Pacific region.

Bunge (NYSEBG) and Chevron NYSE: CVXNYSECVX)

Chevron New Energies, a division of Chevron U.S.A. Inc., announced it is developing a 5-megawatt hydrogen production project in California’s Central Valley.

Chevron Corporation (NYSECVX) reported earnings of $2.3 billion ($1.22 per share - diluted) for fourth quarter 2023, compared with $6.4 billion ($3.33 per share - diluted) in fourth quarter 2022. Included in the current quarter were $1.8 billion of U.S. upstream impairment charges and $1.9 billion of decommissioning obligations from previously sold assets in the U.S. Gulf of Mexico. Foreign currency effects decreased earnings by $479 million. Adjusted earnings of $6.5 billion ($3.45 per share - diluted) in fourth quarter 2023 compared to adjusted earnings of $7.9 billion ($4.09 per share - diluted) in fourth quarter 2022. See Attachment 4 for a reconciliation of adjusted earnings.

After 33 years of distinguished service, Mark Ross, President of Chevron Shipping Company, has elected to retire effective May 1, 2024. Barbara Pickering, currently Vice President of Operations, Chevron Shipping Company, will succeed Mark as President.

Chevron, through its affiliate Union Oil Company of California, has transferred ownership and control of the former headquarters of Union Oil Company of California to the City of Santa Paula. The donation became official Dec. 27, 2023.

Chevron Corporation (NYSECVX), one of the world’s leading energy companies, will hold its quarterly earnings conference call on Friday, February 2, 2024, at 11:00 a.m. ET (8:00 a.m. PT).

Chevron Corporation (NYSECVX) today announced the company received a score of 100 on the Human Rights Campaign Foundation’s 2023-2024 Corporate Equality Index (CEI) for the 18th consecutive year.

Chevron Corporation (NYSECVX) today announced an expected organic capital expenditure range of $15.5 to $16.5 billion for consolidated subsidiaries (capex) and an affiliate capital expenditure (affiliate capex) budget of approximately $3 billion for 2024.

Chevron Corporation (NYSECVX) reported earnings of $6.5 billion ($3.48 per share - diluted) for third quarter 2023, compared with $11.2 billion ($5.78 per share - diluted) in third quarter 2022. Included in the current quarter were a one-time tax benefit of $560 million in Nigeria and pension settlement costs of $40 million. Foreign currency effects increased earnings by $285 million. Adjusted earnings of $5.7 billion ($3.05 per share - diluted) in third quarter 2023 compared to adjusted earnings of $10.8 billion ($5.56 per share - diluted) in third quarter 2022. See Attachment 4 for a reconciliation of adjusted earnings.

Chevron Corporation (NYSECVX) announced today that it has entered into a definitive agreement with Hess Corporation NYSE: HESNYSEHES)

Chevron Corporation (NYSECVX), one of the world’s leading energy companies, will hold its quarterly earnings conference call on Friday, October 27, 2023, at 11:00 a.m. ET (8:00 a.m. PT).

Chevron U.S.A. Inc., through its Chevron New Energies division, announced it has closed a transaction with Haddington Ventures to acquire 100% of Magnum Development, LLC (Magnum Development) and thus a majority interest in ACES Delta, LLC (ACES Delta), which is a joint venture between Mitsubishi Power Americas, Inc. (Mitsubishi Power) and Magnum Development. ACES Delta is developing the Advanced Clean Energy Storage project in Delta, Utah.

Chevron Corporation (“Chevron”) (NYSECVX) and Chevron U.S.A. Inc., a subsidiary of Chevron (“CUSA”), today announced that, as of 5:00 p.m. New York City time, on August 18, 2023 (the “Early Participation Date”), the requisite consents for adopting certain proposed amendments to the indenture (the “PDC Indenture”) governing the 5.750% Senior Notes due 2026 (the “Old Notes”) issued by PDC Energy, Inc. (“PDC Energy”) have not been received in connection with its previously announced (i) offer to exchange any and all validly tendered (and not validly withdrawn) Old Notes for 5.750% Senior Notes due 2026 to be issued by CUSA and fully and unconditionally guaranteed by Chevron and cash, and (ii) related consent solicitation (together, the “Exchange Offer”). Chevron and CUSA do not expect that a majority of the outstanding Old Notes will be tendered prior to the expiration date of the Exchange Offer and, as a result, have elected to terminate the Exchange Offer. The Exchange Offer was being made upon the terms and conditions set forth in the preliminary prospectus dated August 3, 2023, as amended by Amendment No. 1 on August 15, 2023, included in the Registration Statement on Form S-4 (File Nos. 333-273642 and 333-273642-01) (the “Registration Statement”) filed with, but not declared effective by, the Securities and Exchange Commission (the “SEC”) on August 3, 2023, as amended by Amendment No. 1 thereto.

Nigel Hearne, Executive Vice President, Oil, Products & Gas, of Chevron Corporation (NYSECVX), will take part in the Barclays CEO Energy-Power Conference on Wednesday, September 6, 2023, at 8:35 AM ET, discussing corporate strategy and the company’s primary objective of delivering higher returns, lower carbon and superior shareholder value in any business environment.

Chevron Corporation (“Chevron”) (NYSECVX) and Chevron U.S.A. Inc., a subsidiary of Chevron (“CUSA”), today announced the early participation date and the consent revocation deadline have been extended to 5:00 p.m., New York City time, on August 18, 2023 (the “New Early Participation Date” and the “New Consent Revocation Deadline,” respectively) and the expiration date has been extended to one minute after 11:59 p.m., New York City time on September 1, 2023 (the “New Expiration Date”), with respect to their previously announced (i) offer to exchange (the “exchange offer”) any and all validly tendered (and not validly withdrawn) and accepted 5.750% Senior Notes due 2026 (the “Old Notes”) issued by PDC Energy, Inc. (“PDC Energy”) for 5.750% Senior Notes due 2026 to be issued by CUSA and fully and unconditionally guaranteed by Chevron (the “CUSA Notes”) and cash, and (ii) the related solicitation of consents (the “consent solicitation”) to certain proposed amendments to the indenture pursuant to which the Old Notes were issued (the “PDC Indenture”). A registration statement on Form S-4 (File Nos. 333-273642 and 333-273642-01) (the “Registration Statement”) relating to the issuance of the CUSA Notes was filed with the Securities and Exchange Commission (“SEC”) on August 3, 2023. The Registration Statement is currently undergoing review by the SEC and is not yet effective. CUSA and Chevron intend to promptly file an amendment to the Registration Statement. All other terms, provisions and conditions of the exchange offer and consent solicitation will remain in full force and effect. In exchange for each $1,000 principal amount of Old Notes that is validly tendered after the New Early Participation Date but prior to the New Expiration Date and not validly withdrawn, holders of such Old Notes will be eligible to receive the Exchange Consideration (as defined below). The settlement date of the exchange offer and consent solicitation will be September 5, 2023.

Chevron Corporation, through its Chevron Australia New Energies Pty Ltd and Chevron Australia Pty Ltd subsidiaries, today announced investments in two lower carbon projects in Western Australia (WA).

Chevron Corporation (NYSECVX) announced today that its acquisition of PDC Energy, Inc. NASDAQ: PDCENASDAQPDCE)

Chevron Corporation (“Chevron”) (NYSECVX) and Chevron U.S.A. Inc. (“CUSA”) today announced the commencement of an offer to exchange (the “exchange offer”) any and all validly tendered (and not validly withdrawn) and accepted 5.750% Senior Notes due 2026 (the “Old Notes”) issued by PDC Energy, Inc. (“PDC Energy”) for 5.750% Senior Notes due 2026 to be issued by CUSA and fully and unconditionally guaranteed by Chevron (the “CUSA Notes”) and cash, and the related solicitation of consents (the “consent solicitation”) to certain proposed amendments to the indenture pursuant to which the Old Notes were issued (the “PDC Indenture”). A registration statement on Form S-4 relating to the issuance of the CUSA Notes was filed with the Securities and Exchange Commission (“SEC”) on August 3, 2023 (the “Registration Statement”) but has not yet been declared effective. Copies of the Prospectus (as defined below) are available to holders through the exchange agent and information agent, D.F. King & Co., Inc., by calling (212) 269-5550 (toll), (888) 628-1041 (toll-free) or by emailing chevron@dfking.com.

Chevron Corporation (NYSECVX) reported earnings of $6.0 billion ($3.20 per share - diluted) for second quarter 2023, compared with $11.6 billion ($5.95 per share - diluted) in second quarter 2022. Included in the current quarter was a one-time tax benefit of $225 million related to impairments that were recognized in prior periods. Foreign currency effects increased earnings by $10 million. Adjusted earnings of $5.8 billion ($3.08 per share - diluted) in second quarter 2023 compared to adjusted earnings of $11.4 billion ($5.82 per share - diluted) in second quarter 2022. For a reconciliation of adjusted earnings, see Attachment 4.

Chevron Corporation (NYSECVX) today announced several senior leadership changes as well as a waiver of the mandatory retirement age for the chairman and chief executive officer, Mike Wirth.

Chevron Corporation (NYSECVX) today provided second quarter 2023 performance highlights.

Bunge (NYSEBG) and Chevron’s Renewable Energy Group Inc., a subsidiary of Chevron Corporation NYSE: CVXNYSECVX)

Chevron Corporation (NYSECVX), one of the world’s leading energy companies, will hold its quarterly earnings conference call on Friday, July 28, 2023, at 11:00 a.m. ET (8:00 a.m. PT).

Chevron New Energies Japan GK (Chevron New Energies Japan), a subsidiary of Chevron U.S.A. Inc., and Mitsui Oil Exploration Co., Ltd (MOECO) today announced execution of definitive agreements to proceed with the pilot testing of advanced geothermal technology. Pursuant to these agreements, Chevron and MOECO will conduct pilot tests of a developing novel geothermal technology, specifically advanced closed loop (ACL) technology.

Chevron Corporation (NYSECVX) today provided an overview of the company’s business plans and operations at its annual meeting of stockholders.

Chevron Corporation (NYSECVX) announced today that it has entered into a definitive agreement with PDC Energy, Inc. NASDAQ: PDCENASDAQPDCE)

Chevron Corporation (NYSECVX) today reported earnings of $6.6 billion ($3.46 per share - diluted) for first quarter 2023, compared with $6.3 billion ($3.22 per share - diluted) in first quarter 2022. Included in the current quarter was a $130 million tax charge related to changes in the energy profits levy in the United Kingdom. Foreign currency effects decreased earnings by $40 million. Adjusted earnings of $6.7 billion ($3.55 per share - diluted) in first quarter 2023 compared to adjusted earnings of $6.5 billion ($3.36 per share - diluted) in first quarter 2022. For a reconciliation of adjusted earnings, see Attachment 4.

Chevron U.S.A. Inc., a subsidiary of Chevron Corporation (NYSECVX), kicked off a road trip today across the U.S. Gulf Coast to showcase an innovative new gasoline blend with more than 50 percent renewable content. People from Chevron and Toyota will be driving Toyota’s Tundra, RAV4 and Camry on this road trip with the objective of demonstrating the fuel, which is more than 40 percent less carbon intensive than traditional gasoline on a lifecycle basis.

Chevron Corporation (NYSECVX), through its subsidiary Chevron Shipping Company LLC, and the Angelicoussis Group, through its Energy Transition division, Green Ships, announced a Joint Study Agreement (JSA) to explore how tankers can be used to transport ammonia, a potential lower carbon marine fuel. The initial study will evaluate the ammonia transportation market, existing infrastructure, the safety aspects of ammonia, potential next generation vessel requirements and a preliminary system to transport ammonia between the U.S. Gulf Coast and Europe. Future opportunities will focus on additional global markets.

Chevron Corporation (NYSECVX), one of the world’s leading energy companies, will hold its quarterly earnings conference call on Friday, April 28, 2023, at 11:00 a.m. ET (8:00 a.m. PT).

Today, Chevron announced refreshed branding for its line of grease products, featuring new naming and packaging to make the product selection process more seamless for customers. This product optimization aims to future proof its product line to serve today’s equipment needs and meet the needs of tomorrow.

Chevron Corporation (NYSECVX) announced today the second retail event in the Chevron Exchange Q&A Series, a virtual fireside chat with President of Chevron New Energies (CNE), Jeff Gustavson, on Thursday, March 23, 2023. Chevron will offer a platform to receive and answer questions from verified retail shareholders.

Chevron New Energies (Chevron), a division of Chevron U.S.A. Inc., and JERA Co., Inc. (JERA) have signed a Memorandum of Understanding (MOU) that provides a framework for their collaboration on carbon capture and storage (CCS) projects located in the United States and Australia. This MOU has the potential to expand the significant liquid natural gas (LNG) relationship that Chevron and JERA have today, and further demonstrates the commitment and dedication both companies have to advancing lower carbon solutions.

Bayou Bend CCS LLC (“Bayou Bend”), a carbon capture and sequestration project located along the Texas Gulf Coast, announced today an expansion of its carbon dioxide (“CO2”) storage footprint through the acquisition of nearly 100,000 acres onshore in Chambers and Jefferson Counties, Texas. The increased acreage positions Bayou Bend to be one of the largest carbon storage projects in the United States.

At its annual investor meeting today, Chevron Corporation (NYSECVX) reported on its progress to leverage its strengths to safely deliver lower carbon energy to a growing world.

Chevron Corporation (NYSECVX), through its subsidiary Chevron Shipping Company LLC, announced entrance into an agreement with Sembcorp Marine Repairs & Upgrades Pte. Ltd, a wholly owned subsidiary of Sembcorp Marine Ltd. (Sembcorp Marine), intending to reduce the carbon intensity of their LNG fleet operations. Under the agreement, with Sembcorp Marine’s support, Chevron will install new technologies aboard Chevron vessels to support their energy transition goals. The changes are also in alignment with decarbonization targets set by the International Maritime Organization (IMO).

Chevron Corporation (NYSECVX) and the Fab Foundation today announced the first recipients of an all-new fellowship program that supports STEM educators across the world. The Chevron Fab STEM Fellowship was awarded to Nathan Pritchett of Tulsa, Oklahoma and to Pieter Verduijn of Calabas, Aruba. The Chevron Fab STEM Fellowship is a one-year discovery program for outstanding educators to learn about, create and promote innovative and inclusive programs that teach STEM using digital fabrication and engage new and underrepresented student populations in STEM education and careers.

Chevron Corporation (NYSECVX), one of the world’s leading energy companies, will hold its annual investor day on Tuesday, February 28, 2023, at 8:30 a.m. ET (5:30 a.m. PT).

Chevron Corporation (NYSECVX) today reported earnings of $6.4 billion ($3.33 per share - diluted) for fourth quarter 2022, compared with $5.1 billion ($2.63 per share - diluted) in fourth quarter 2021. Included in the current quarter were $1.1 billion of international upstream write-off and impairment charges, and pension settlement costs of $17 million. Foreign currency effects decreased earnings by $405 million. Adjusted earnings of $7.9 billion ($4.09 per share - diluted) in fourth quarter 2022 compared to adjusted earnings of $4.9 billion ($2.56 per share - diluted) in fourth quarter 2021.

Chevron Corporation (NYSECVX) today announced Mark A. Nelson, executive vice president, Strategy, Policy & Development, has been named vice chairman and executive vice president, Strategy, Policy & Development, effective February 1, 2023. In this new corporate officer role, Nelson will continue leading Chevron’s Strategy & Sustainability, Corporate Affairs, and Business Development functions, and take on additional corporate responsibilities.

The Board of Directors of Chevron Corporation (NYSECVX) today declared a quarterly dividend of one dollar and fifty-one cents ($1.51) per share, an increase of nine cents ($0.09) per share or approximately 6 percent. The dividend is payable March 10, 2023, to all holders of common stock as shown on the transfer records of the Corporation at the close of business February 16, 2023. This increase puts Chevron on track to make 2023 the 36th consecutive year with an increase in annual dividend payout per share.

Raven SR Inc. (Raven SR), a renewable fuels company, Chevron New Energies, a division of Chevron U.S.A. Inc., and Hyzon Motors Inc. (NASDAQHYZN) today announced they are collaborating to commercialize operations of a green waste-to-hydrogen production facility in Richmond intended to supply hydrogen fuel to transportation markets in Northern California.