11 of 500
Financials: Latest Results
Rank: 11
Previous rank: 8
CEO: John S. Watson
Employees: 62,000

The world’s third-largest oil company by market value saw another strong year on better performance from its refining business. Chevron’s 2012 earnings of $26.2 billion are the second highest result in company history, behind $26.9 billion in 2011.

But 2013 has begun on a challenging note for the energy giant with lower oil prices and weakening demand lowering profits in the first quarter. Even as demand remains challenging, the company is spending $36.7 billion on exploration and refinery upgrades to bolster oil and gas output, after it fell to a four-year low in 2012.

The company’s focus may be diluted, with the landmark $19 billion environmental lawsuit filed by residents of Ecuador’s Amazon rainforest against it continuing to dominate the annual general meeting. Shareholders are asking fresh questions about the company’s lobbying practices, even as the company restarts business in Brazil after settling another criminal suit related to oil spills.

6001 Bollinger Canyon Rd.
San Ramon, California. 94583
Website: www.chevron.com
Key financials
$ millions
% change from 2011
Stockholder's equity
Profits as % of
From the July 22, 2013 issue


Excise taxes have been deducted.
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Companies are ranked by total revenues for their respective fiscal years ended on or before March 31, 2013. All companies on the list must publish financial data and report part or all of their figures to a government agency. Figures are as reported, and comparisons are with the prior year’s figures as originally reported for that year. Fortune does not restate the prior year’s figures for changes in accounting. More
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