US energy major Chevron more than doubled its earnings last year, posting around $35.5 billion net income attributable to its shareholders, according to the company's financial results released on Friday.
The company's income for 2021 was $15.6 billion, marking an increase of over 127%.
Chevron's income for the fourth quarter of 2022 was $6.3 billion, up from $5 billion during the same period of 2021.
-Significant revenue increase
The company's revenue for the full year 2022 amounted to $246.2 billion, compared to $162.5 billion of revenue in 2021.
The second-largest oil company in the US also reported $56.5 million revenue in the October-December period of last year after recording $48.1 billion during the same period of 2021.
“We delivered record earnings and cash flow in 2022, while increasing investments and growing US production to a company record,” Chevron's Chairman and CEO Michael Wirth said.
Wirth said the company's investments increased by more than 75% from 2021, and annual US production increased to 1.2 million barrels of oil equivalent per day (boep), led by 16% growth in Permian Basin unconventional production.
The company also added 1.1 billion barrels of net oil-equivalent proved reserves in 2022 while its worldwide net oil-equivalent production was 3.01 million barrels per day in the last quarter and 3 million barrels per day for the full-year 2022.
By Sibel Morrow
Anadolu Agency
energy@aa.com.tr