The company’s business results showed that it achieved a net profit of $36.5 billion in 2022, compared to $15.6 billion in the previous year.
Rising oil prices generated record cash flows for America’s second-largest oil explorer, which announced a massive $75 billion share buyback program.
A report by Bloomberg indicated that the record profits of the US oil giant are expected to arouse anger among critics of the oil industry in the White House and Congress, as the rise in fuel prices contributed mainly to the violent inflation wave in the United States, which is considered the strongest in 4 decades.
In the fourth quarter of last year alone, Chevron recorded a net profit of $6.45 billion, compared to $5.05 billion in the same period last year.
And “Chevron” recorded revenues of about $ 56.4 billion in the fourth quarter, compared to $ 48.1 billion in the comparative period a year ago.
And “Chevron” is the first among the five major companies that will announce its profits, as “Exxon Mobil” is scheduled to announce its results on January 31, followed by “Shell”, “BP” and “Total Energies” in the coming weeks. .
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