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Delaware
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001-00368
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94-0890210
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(State or other jurisdiction
of incorporation )
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(Commission
File Number)
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(I.R.S. Employer
Identification No.)
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6001 Bollinger Canyon Road, San Ramon, CA
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94583
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(Address of principal executive offices)
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(Zip Code)
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None
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(Former name or former address, if changed since last report)
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CHEVRON CORPORATION
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By
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/s/ Jeanette L. Ourada
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Jeanette L. Ourada
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Vice President and Comptroller
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(Principal Accounting Officer and
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Duly Authorized Officer)
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news release
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EXHIBIT 99.1
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FOR RELEASE AT 5:30 AM PST
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FEBRUARY 2, 2018
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•
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Strong cash flow drives dividend increase of $0.04 per share
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•
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Reserves replacement tops 150 percent
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•
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Production grows 5 percent; 4 to 7 percent growth targeted for 2018
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Fourth Quarter
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Year
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||||
Millions of dollars
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2017
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2016
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2017
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2016
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Earnings by business segment
|
|
|
|
|
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Upstream
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$5,291
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$930
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$8,150
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$(2,537)
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Downstream
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1,279
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357
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5,214
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3,435
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All Other
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(3,459)
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(872)
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(4,169)
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|
(1,395)
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Total
(1)(2)
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$3,111
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$415
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$9,195
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$(497)
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(1)
Includes foreign currency effects
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$(96)
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$26
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$(446)
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$58
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(2)
Net income (loss) attributable to Chevron Corporation (See Attachment 1)
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Fourth Quarter
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Year
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||||
Millions of dollars
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2017
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2016
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2017
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2016
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Earnings
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$3,688
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|
$121
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|
$3,640
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$(2,054)
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Fourth Quarter
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Year
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||||
Millions of dollars
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2017
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2016
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2017
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2016
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Earnings*
|
$1,603
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|
$809
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|
$4,510
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$(483)
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*Includes foreign currency effects
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$(14)
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$6
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$(456)
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$122
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Fourth Quarter
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Year
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||||
Millions of dollars
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2017
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2016
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2017
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2016
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Earnings
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$1,195
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$0
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$2,938
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$1,307
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Fourth Quarter
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Year
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||||
Millions of dollars
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2017
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2016
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2017
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2016
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Earnings*
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$84
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$357
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$2,276
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$2,128
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*Includes foreign currency effects
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$(62)
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$53
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$(90)
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$(25)
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Fourth Quarter
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Year
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||||
Millions of dollars
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2017
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2016
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2017
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2016
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Net charges*
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$(3,459)
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$(872)
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$(4,169)
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$(1,395)
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*Includes foreign currency effects
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$(20)
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$(33)
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$100
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$(39)
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CHEVRON CORPORATION - FINANCIAL REVIEW
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Attachment 1
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(Millions of Dollars, Except Per-Share Amounts)
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CHEVRON CORPORATION - FINANCIAL REVIEW
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Attachment 2
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(Millions of Dollars)
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(unaudited)
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EARNINGS BY MAJOR OPERATING AREA
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Three Months
Ended December 31 |
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Year Ended
December 31 |
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||||||||||
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2017
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2016
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2017
|
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2016
|
|
||||
Upstream
|
|
|
|
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||||||||
United States
|
$
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3,688
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$
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121
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$
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3,640
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$
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(2,054
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)
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International
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1,603
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809
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4,510
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(483
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)
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||||
Total Upstream
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5,291
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930
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8,150
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(2,537
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)
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||||
Downstream
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||||||||
United States
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1,195
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—
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2,938
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1,307
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International
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84
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357
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2,276
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2,128
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||||
Total Downstream
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1,279
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357
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5,214
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3,435
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All Other
(1)
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(3,459
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)
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(872
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)
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(4,169
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)
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(1,395
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)
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||||
Total
(2)
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$
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3,111
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$
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415
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$
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9,195
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$
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(497
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)
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SELECTED BALANCE SHEET ACCOUNT DATA
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Dec. 31, 2017
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Dec. 31, 2016
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Cash and Cash Equivalents
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$
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4,813
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$
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6,988
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Marketable Securities
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$
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9
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$
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13
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Total Assets
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$
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253,806
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$
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260,078
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Total Debt
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$
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38,763
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$
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46,126
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Total Chevron Corporation Stockholders' Equity
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$
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148,124
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$
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145,556
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Year Ended
December 31 |
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|||||
CASH FLOW FROM OPERATIONS (Preliminary)
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2017
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2016
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Net Cash Provided by Operating Activities
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$
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20,515
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$
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12,846
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Net Increase in Operating Working Capital
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$
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476
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$
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(550
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)
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Net Cash Provided by Operating Activities Excluding Working Capital
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$
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20,039
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$
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13,396
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CHEVRON CORPORATION - FINANCIAL REVIEW
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Attachment 3
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OPERATING STATISTICS
(1)
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Three Months
Ended December 31 |
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Year Ended
December 31 |
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||||||
NET LIQUIDS PRODUCTION (MB/D):
(2)
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2017
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2016
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2017
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2016
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United States
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518
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508
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519
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504
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International
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1,195
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1,237
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1,204
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1,215
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Worldwide
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1,713
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1,745
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1,723
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1,719
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NET NATURAL GAS PRODUCTION (MMCF/D):
(3)
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||||
United States
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920
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1,044
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970
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1,120
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International
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5,242
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4,502
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5,062
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4,132
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Worldwide
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6,162
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5,546
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6,032
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5,252
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TOTAL NET OIL-EQUIVALENT PRODUCTION (MB/D):
(4)
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|||||
United States
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671
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|
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682
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681
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691
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International
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2,069
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1,987
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|
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2,047
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1,903
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Worldwide
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2,740
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2,669
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2,728
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2,594
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SALES OF NATURAL GAS (MMCF/D):
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||||
United States
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3,456
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3,045
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3,331
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3,317
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International
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5,270
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4,598
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5,081
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4,491
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Worldwide
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8,726
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7,643
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8,412
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7,808
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SALES OF NATURAL GAS LIQUIDS (MB/D):
|
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||||
United States
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129
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|
|
149
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|
|
139
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|
|
145
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International
|
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90
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|
|
92
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|
|
93
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|
|
85
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Worldwide
|
|
219
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|
|
241
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232
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230
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SALES OF REFINED PRODUCTS (MB/D):
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||||
United States
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1,172
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1,136
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|
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1,197
|
|
|
1,213
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International
(5)
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1,518
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|
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1,493
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1,493
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1,462
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Worldwide
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2,690
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|
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2,629
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|
2,690
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|
2,675
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REFINERY INPUT (MB/D):
|
|
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|
|
|
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||||
United States
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|
834
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|
|
721
|
|
|
901
|
|
|
900
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|
International
|
|
761
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|
|
801
|
|
|
760
|
|
|
788
|
|
Worldwide
|
|
1,595
|
|
|
1,522
|
|
|
1,661
|
|
|
1,688
|
|
|
|
|
|
|
|
|
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|
||||
(1) Includes interest in affiliates.
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||||
(2) Includes net production of synthetic oil:
|
|
|
|
|
|
|
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|
||||
Canada
|
|
49
|
|
|
51
|
|
|
51
|
|
|
50
|
|
Venezuela Affiliate
|
|
23
|
|
|
29
|
|
|
28
|
|
|
28
|
|
(3) Includes natural gas consumed in operations (MMCF/D):
|
|
|
|
|
|
|
|
|
||||
United States
|
|
35
|
|
|
34
|
|
|
37
|
|
|
54
|
|
International
|
|
545
|
|
|
434
|
|
|
528
|
|
|
432
|
|
(4) Oil-equivalent production is the sum of net liquids production. net natural gas production and synthetic production. The oil-equivalent gas conversion ratio is 6,000 cubic feet of natural gas = 1 barrel of crude oil.
|
|
|
|
|
|
|
|
|
||||
(5) Includes share of affiliate sales (MB/D):
|
|
385
|
|
|
386
|
|
|
366
|
|
|
377
|
|
|
|
|
|
|
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