Chevron
Chevron is an integrated global energy supermajor operating upstream oil and gas production, downstream refining and marketing through branded fuel stations, and emerging dedicated power generation for AI data centers via Project Kilby serving hyperscale customers like Microsoft.
- Company typePublic
- Founded1879
- HeadquartersSan Ramon, United States
- Headcount5,001–10,000
- GTM typeB2B and B2C
- OfferingHardware or Manufacturing
What Chevron does
Chevron Corporation is a publicly traded integrated energy supermajor (NYSE: CVX), founded in 1879 as Pacific Coast Oil Company and headquartered in Houston, Texas. The company operates across the full energy value chain: upstream exploration and production in major basins including the Permian (exceeding 1 million BOE/day), Gulf of Mexico, Guyana's Stabroek block (via the $53 billion Hess acquisition completed in 2024), and international assets spanning Venezuela, Kazakhstan, Iraq, Libya, Nigeria, Australia, and Greece; downstream refining and marketing through a branded retail network of Chevron, Texaco, and ExtraMile fuel stations supported by the proprietary Techron fuel additive and Chevron Texaco Rewards loyalty program; and emerging new energy platforms via the Chevron New Energies division (hydrogen, carbon capture, renewable fuels).
Revenue is generated through diversified streams: upstream oil and gas production, downstream refining and marketing (Q1 2026 revenue of $47.56 billion), and a new contracted power generation segment. The traditional go-to-market combines B2B enterprise sales of crude, natural gas, LNG, and refined products with B2C retail fuel sales through branded stations and mobile applications supporting multiple payment methods (Apple Pay, Google Pay, PayPal, Checking Pay).
The company's strategic direction is pivoting toward contracted, lower-volatility cash flows through Project Kilby, a 20-year, 2.67 GW power purchase agreement with Microsoft (announced June 22, 2026) developed by subsidiary Energy Forge One LLC to power AI data center infrastructure in West Texas. This represents a deliberate expansion into behind-the-meter power generation for hyperscale AI customers, executed in partnership with GE Vernova, Solar Turbines (Caterpillar), Texas Pacific Land Corporation, Joulent, and Engine No. 1, with first power targeted for 2028 and mid-teen returns on a $7 billion initial CapEx. Chevron also continues to pursue lower-carbon initiatives (Advanced Clean Energy Storage hydrogen in Delta, Utah) while sustaining capital returns (39 consecutive years of dividend increases; $27.1 billion in 2025 shareholder returns).
Chevron firmographics
Firmographics- Name
- Chevron
- Legal name
- Chevron Corporation
- Website
- https://chevron.com
- Company type
- Public
- Founded year
- 1879
- Operating status
- Operating
- Headcount range
- 5,001–10,000 employees
- Short description
- Chevron is an integrated global energy supermajor operating upstream oil and gas production, downstream refining and marketing through branded fuel stations, and emerging dedicated power generation for AI data centers via Project Kilby serving hyperscale customers like Microsoft.
- Ownership category
- akta.pro rank
Chevron industry classification
Industry- Product category
- Integrated Oil & Gas
- NAICS
- Petroleum Refineries (324110), Gasoline Stations (4571), Petrochemical Manufacturing (32511), Industrial Gas Manufacturing (32512)
- SIC
- Crude Petroleum & Natural Gas (1311), Petroleum Refining (2911), Cogeneration Services & Small Power Producers (4991)
- akta.pro primary industry
- Retail Service Station Operations (Company-Owned & Dealer-Operated) (EUALAIAA)
- akta.pro secondary industries
- Convenience Retail & Foodservice at Forecourts (C-Store/QSR) (EUALAIAE), Fuel Pricing, Loyalty & Payments Platforms (POS, Mobile Pay, Fleet Cards, Loyalty Programs) (EUALAIAK), Captive & Embedded Gas-Fired Power Generation (Industrial/Commercial CHP) (EUALALAB)
Keywords
Where Chevron is headquartered
LocationHeadquarters
- HQ city
- San Ramon
- HQ country
- United States
- HQ region
- North America
Offices6 records
Markets served
Chevron business model
Business model- GTM type
- B2B and B2C
- Offering type
- Hardware or Manufacturing
- Cost components
- Operations, Supply Chain, Personnel, Infrastructure, Marketing or Sales, Technology or R&D, Others
Revenue model
- Upstream Oil and Gas Production: Exploration and production of crude oil and natural gas across major basins including Permian Basin (exceeding 1 million BOE/day), Gulf of Mexico, and international operations. Production reached record 3,858 MBOED following Hess acquisition integration.
- Downstream Refining and Marketing: Refining crude oil into fuels, lubricants, and petrochemicals; marketing through branded fuel stations (Chevron, Texaco) and convenience stores (ExtraMile). Revenue of $47.56 billion in Q1 2026.
- New Energies and Hydrogen: Chevron New Energies division developing hydrogen projects including majority stake in Advanced Clean Energy Storage in Utah, renewable fuels, and carbon capture initiatives.
- AI Data Center Power Generation: 20-year power purchase agreement with Microsoft for Project Kilby (2.67 GW capacity) represents a new growth platform leveraging Permian Basin natural gas for dedicated AI infrastructure power, targeting mid-teen returns with cash flows diversified from commodity price cycles.
Pricing tiers
| Model | Billing | Price |
|---|---|---|
| Other | Pay-as-you-go | Retail gasoline pricing varies by market conditions and geographic location |
Go-to-market motion2 records
Distribution channels3 records
Marketing channels6 records
Chevron product offering
Product offeringCore offering
Chevron is an integrated energy company that explores, produces, and markets crude oil, natural gas, liquefied natural gas (LNG), refined petroleum products (gasoline, diesel, jet fuel), lubricants, and petrochemicals. It operates a branded retail fuel station network under the Chevron, Texaco, and ExtraMile brands with proprietary Techron fuel additive technology, and is expanding into dedicated natural gas power generation for hyperscale AI data centers through its Energy Forge One subsidiary (Project Kilby) alongside lower-carbon energy initiatives including hydrogen and carbon capture.
Product overview
Chevron operates as a fully integrated energy company offering petroleum products through its retail fuel station network (Chevron, Texaco, ExtraMile brands) and its proprietary Techron fuel additive technology. The company supports consumer engagement through loyalty programs (Chevron Texaco Rewards, ExtraMile Rewards) accessible via mobile applications. Chevron's emerging diversification includes power generation for AI data centers through its Energy Forge One subsidiary (Project Kilby with Microsoft) and clean energy initiatives via Chevron New Energies (hydrogen storage projects). The portfolio spans fuels (gasoline, diesel, aviation), lubricants, chemicals, LNG, and emerging lower-carbon energy solutions.
Differentiator
Problem solved
Functional benefit
Brands
- Techron: Proprietary fuel additive technology used in Chevron and Texaco branded gasolines, designed to clean and protect engines from harmful deposits.
- Project Kilby
- Energy Forge One
- Chevron New Energies
- Chevron Texaco Rewards
Products and services
- Chevron with Techron Fuel Chevron's proprietary Techron additive technology blended into all grades of Chevron and Texaco branded gasoline, designed to clean and protect engines from harmful deposits. The enhanced next-generation formula was launched in 2026 across the U.S. retail network.
- ChevronTexaco Rewards Program Consumer loyalty and rewards program enabling members to earn points on fuel purchases at Chevron and Texaco stations, redeemable for fuel discounts and other rewards. Integrates with Albertsons for U gas rewards.
- ExtraMile Rewards Convenience store loyalty program for ExtraMile-branded locations, allowing members to earn and redeem rewards on fuel and convenience items.
- Project Kilby Co-located natural gas power generation platform supplying dedicated electricity to hyperscale AI data centers, representing Chevron's entry into power-for-AI infrastructure. Targets mid-teen returns with cash flows diversified from commodity price cycles.
- Advanced Clean Energy Storage (ACES) Large-scale hydrogen production and storage project using electrolysis and salt caverns in Delta, Utah to serve regional utility, transportation, and industrial needs for green hydrogen.
- Chevron Mobile Apps Chevron, Texaco, and ExtraMile branded mobile applications for iOS and Android enabling fuel payments via Apple Pay, Google Pay, PayPal, and Checking Pay; loyalty point management; station location finding; and push notifications for offers.
Quantifiable outcome
- Record production of 3,858 MBOED with 15% YoY growth
- +3 more outcomes
Companies that use Chevron
Customer profileNamed customers3 records
Segments3 records
Ideal customer profiles3 records
Chevron technology and API
TechnologyTechnology focussed No
API detail
- Has API
- No
- API docs
- API detail
Core technology
AI maturity
App detail
Integration20 records
Feature3 records
Chevron partnerships and signals
Strategic signalPartnerships
13 partnerships are on record, tiered minor, core and flagship.
- ExxonMobilminorCollaborating with ExxonMobil on exploration risk management in Greek offshore blocks south of Crete and Peloponnese.
- RepsolminorChevron and Repsol confirmed joint operations in Venezuela remain unaffected following earthquakes. Both companies maintain gas assets including joint venture in the Perla field.
- EniminorChevron and Eni confirmed joint operations in Venezuela remain unaffected following earthquakes. Both maintain gas assets in the country.
- Texas Pacific Land CorporationcoreAgreement for Texas Pacific Land to provide surface acreage and exclusive access to aquifer-derived brackish groundwater for Project Kilby power generation facility in Reeves County, Texas.
- Microsoftflagship20-year power purchase agreement for Project Kilby, a co-located natural gas power facility in West Texas delivering approximately 2.67 gigawatts of dedicated electricity to Microsoft AI data center campus near Pecos, Texas. Chevron's Energy Forge One LLC subsidiary developing the facility with GE Vernova turbines and Solar Turbines equipment. Project targets mid-teen returns with first power delivery expected 2028.
- Engine No. 1coreInvestment fund partner collaborating with Chevron on Project Kilby power generation facility development. Engine No. 1 backed Joulent as the technology-driven energy company developing multi-gigawatt power solutions for AI infrastructure.
- JoulentcoreTechnology-driven energy company backed by Engine No. 1 and developed in collaboration with GE Vernova, purpose-built to deliver reliable multi-gigawatt power for American digital infrastructure. First project is Project Kilby with Chevron.
- GE VernovacorePrimary turbine supplier for Project Kilby, providing gas turbines for the 2.67 GW natural gas power generation facility serving Microsoft data center.
- Caterpillar (Solar Turbines)coreSolar Turbines, a wholly owned Caterpillar subsidiary, providing additional generation capacity for Project Kilby facility.
- ExxonMobilminorJoint exploration collaboration with ExxonMobil for areas south of Crete and the Peloponnese in Greece, managed by HELLENiQ ENERGY. Block 2 drilling expected 2027 targeting 270 BCF natural gas potential.
- Sable Offshore CorpminorChevron is purchasing oil from Sable Offshore Corp's restarted offshore platforms near Santa Barbara following Trump administration use of Defense Production Act to bypass California regulations.
- HELLENiQ ENERGYcoreChevron acquiring 70% interest and operatorship in Block 10 offshore concession in Kyparissiakos Gulf, Greece, while HELLENiQ ENERGY retains 30%. This is the fifth joint offshore concession between the companies in Greece.
- Advanced Clean Energy StorageminorChevron acquired majority stake in Advanced Clean Energy Storage hydrogen project in Delta, Utah through Chevron New Energies division. Project aims to produce and store hydrogen using electrolysis and salt caverns, expected to operate at commercial scale by mid-2025.
Scale indicators10 records
Recent moves7 records
Expansion highlights6 records
Chevron competitors and assessment
Company assessmentDirect peers
- ExxonMobil: Largest US integrated supermajor with parallel upstream, downstream, refining, and chemicals operations and similar global exploration footprint. ExxonMobil is the closest direct peer across every line of Chevron's integrated business.
- Shell: Global integrated supermajor with comparable upstream production, LNG, refining, marketing, and growing power/new energies businesses. Shell's pivot into integrated power offerings closely parallels Chevron's Project Kilby strategy.
- BP: Integrated supermajor with upstream, downstream, and increasingly aggressive low-carbon and convenience retail strategies. BP's downstream marketing overlap with Chevron's branded station network makes it a direct competitor.
- TotalEnergies: European integrated supermajor with integrated upstream, refining, marketing, LNG, and renewables platforms of similar scale. Comparable geographic diversification and integrated energy transition strategy.
- ConocoPhillips: Major US independent E&P with significant Permian, Eagle Ford, and Lower 48 overlap. While less integrated downstream, ConocoPhillips is a direct comparable on Permian production economics and US unconventional scale.
- Marathon Petroleum: Largest US independent refining and marketing company operating refineries, pipelines, and retail outlets (Marathon, ARCO, Speedway). Directly comparable to Chevron's downstream refining and branded fuel marketing business.
- Phillips 66: US-based integrated downstream and chemicals company with refining, midstream, marketing, and specialty businesses. Closely comparable to Chevron's downstream, midstream, and chemicals segment.
- Valero Energy: Largest US independent petroleum refiner with extensive refining and wholesale marketing operations. Comparable to Chevron on refining throughput, crack spread exposure, and renewable diesel investments.
- Suncor Energy: Canadian integrated energy company with oil sands production, refining, retail (Petro-Canada), and renewable fuels operations. Comparable integrated business model, though regionally focused on Canada.
Broad incumbents
- Occidental Petroleum: Large US oil and gas producer with significant Permian footprint and chemicals (OxyChem) business. Comparable to Chevron on Permian production scale and downstream chemical exposure, but lacks comparable retail fuel network.
Market position
Strengths5 records
Weaknesses5 records
Competitive moat6 records
Key risks5 records
Key highlights6 records
Customer concentration
Chevron social profiles
Digital presenceChevron financial estimates
Financial estimateRevenue estimate
Valuation estimate
Chevron leadership team
Management profileNumber of profiles
Profiles4 records
Chevron subsidiaries and ownership
Company hierarchySubsidiaries1 record
Chevron funding detail
Funding detailFunding overview
Funding rounds
Investors
Funding detail is available on the Subscription and Enterprise plan.Contact sales →
Chevron M&A and investment
M&A and investmentM&A10 records
Investments20 records
M&A and investment is available on the Subscription and Enterprise plan.Contact sales →
Frequently asked questions about Chevron
What does Chevron do?
Chevron is an integrated energy company that explores, produces, and markets crude oil, natural gas, liquefied natural gas (LNG), refined petroleum products (gasoline, diesel, jet fuel), lubricants, and petrochemicals. It operates a branded retail fuel station network under the Chevron, Texaco, and ExtraMile brands with proprietary Techron fuel additive technology, and is expanding into dedicated natural gas power generation for hyperscale AI data centers through its Energy Forge One subsidiary (Project Kilby) alongside lower-carbon energy initiatives including hydrogen and carbon capture.
Is Chevron a public or private company?
Chevron is a public company. It is classified as public and is currently operating.
When was Chevron founded?
Chevron was founded in 1879. It employs 5,001 to 10,000 people.
Where is Chevron based?
Chevron is headquartered in San Ramon, United States, in the North America region.
How does Chevron make money?
Four revenue lines are on record. Upstream Oil and Gas Production is the primary driver. The others are downstream Refining and Marketing, new Energies and Hydrogen and AI Data Center Power Generation.
Who are Chevron's main competitors?
Direct peers on record are ExxonMobil, Shell, BP, TotalEnergies, ConocoPhillips, Marathon Petroleum, Phillips 66, Valero Energy and Suncor Energy. Occidental Petroleum is listed as a broad incumbent.
Does Chevron have an API?
No public API is recorded for Chevron.
What industry is Chevron in?
Chevron's product category is Integrated Oil & Gas. Its primary akta.pro industry code is EUALAIAA, Retail Service Station Operations (Company-Owned & Dealer-Operated), with a secondary code of EUALAIAE, Convenience Retail & Foodservice at Forecourts (C-Store/QSR). Its NAICS code is 324110 and its SIC code is 1311.