May 2, 2025
Chevron has announced its first-quarter earnings, aligning with Wall Street expectations, as the company experiences a recovery in its refining sector. According to a report by Reuters, the oil giant reported adjusted earnings of $3.8 billion, or $2.18 per share, for the quarter ending March 31, meeting analyst predictions as per LSEG data.
Despite a decline in profits from refining and oil and gas production compared to the previous year, Chevron’s refining business showed significant improvement from the preceding quarter, where it faced its first loss in four years. The company’s Chief Financial Officer, Eimear Bonner, indicated that Chevron’s share repurchases could range between $11.5 billion and $13 billion this year, staying within its guidance of $10 billion to $20 billion.
Chevron paid $3 billion in dividends and repurchased $3.9 billion in shares during the quarter. It plans to repurchase between $2 billion and $3.5 billion in shares in the second quarter, potentially reaching $11.5 billion to $13 billion in repurchases for 2025, according to Bonner.
The company’s global oil production remained steady at 3.35 million barrels of oil equivalent per day. Chevron completed an expansion at the Tengiz oilfield in Kazakhstan and increased production from the Permian basin by 12% year-over-year, though these gains were offset by production losses from asset sales. Additionally, Chevron started production at the Ballymore project in the Gulf of Mexico in April.
However, Chevron’s operations faced challenges due to a Trump administration order to cease operations in Venezuela, impacting second-quarter shipments. Earnings from oil and gas production fell to $3.76 billion, down from $5.24 billion in the previous year. Meanwhile, Chevron’s refining business earned $325 million, a decrease from $783 million a year ago, yet an improvement from the previous quarter’s loss.
This report provides an in-depth analysis of the petroleum market in the U.S.. Within it, you will discover the latest data on market trends and opportunities by country, consumption, production and price developments, as well as the global trade (imports and exports). The forecast exhibits the market prospects through 2030.
Product coverage:NAICS 324110 – Petroleum refineriesCompanies mentioned:Chevron CorporationExxon Mobil CorporationValero Energy CorporationKoch IndustriesHollyfrontier CorporationCalumet Specialty Products PartnersUnited Refining CompanyWestern RefiningAlon USA EnergyPbf Energy CompanyPbf EnergyCvr EnergyMurphy Oil UsaChc McPherson RefineryBP AmericaDelek US HoldingsMarathon Petroleum CorporationPlacid Refining CompanyCvr RefiningNorthern Tier EnergyPaulsboro Refining CompanyUnited RefiningValero Refining-New OrleansShell PetroleumExxonmobil Oil CorporationPlacid Holding CompanyThe Sinclair CompaniesUnited Acquisition Corp.Alon Refining Krotz SpringsPbf Holding CompanyPhillips 66 CompanyAlon USA PartnersBP Corporation North AmericaCountry coverage:Data coverage:Market volume and valuePer Capita consumptionForecast of the market dynamics in the medium termTrade (exports and imports) in the U.S.Export and import pricesMarket trends, drivers and restraintsKey market players and their profilesReasons to buy this report:Take advantage of the latest dataFind deeper insights into current market developmentsDiscover vital success factors affecting the market
This report is designed for manufacturers, distributors, importers, and wholesalers, as well as for investors, consultants and advisors.
In this report, you can find information that helps you to make informed decisions on the following issues:
How to diversify your business and benefit from new market opportunitiesHow to load your idle production capacityHow to boost your sales on overseas marketsHow to increase your profit marginsHow to make your supply chain more sustainableHow to reduce your production and supply chain costsHow to outsource production to other countriesHow to prepare your business for global expansion
While doing this research, we combine the accumulated expertise of our analysts and the capabilities of artificial intelligence. The AI-based platform, developed by our data scientists, constitutes the key working tool for business analysts, empowering them to discover deep insights and ideas from the marketing data.
1. INTRODUCTION
Making Data-Driven Decisions to Grow Your Business
REPORT DESCRIPTION
RESEARCH METHODOLOGY AND AI PLATFORM
DATA-DRIVEN DECISIONS FOR YOUR BUSINESS
GLOSSARY AND SPECIFIC TERMS
2. EXECUTIVE SUMMARY
A Quick Overview of Market Performance
KEY FINDINGS
MARKET TRENDS
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3. MARKET OVERVIEW
Understanding the Current State of The Market and Its Prospects
MARKET SIZE
MARKET STRUCTURE
TRADE BALANCE
PER CAPITA CONSUMPTION
MARKET FORECAST TO 2030
4. MOST PROMISING PRODUCT
Finding New Products to Diversify Your Business
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TOP PRODUCTS TO DIVERSIFY YOUR BUSINESS
BEST-SELLING PRODUCTS
MOST CONSUMED PRODUCT
MOST TRADED PRODUCT
MOST PROFITABLE PRODUCT FOR EXPORT
5. MOST PROMISING SUPPLYING COUNTRIES
Choosing the Best Countries to Establish Your Sustainable Supply Chain
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TOP COUNTRIES TO SOURCE YOUR PRODUCT
TOP PRODUCING COUNTRIES
TOP EXPORTING COUNTRIES
LOW-COST EXPORTING COUNTRIES
6. MOST PROMISING OVERSEAS MARKETS
Choosing the Best Countries to Boost Your Exports
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TOP OVERSEAS MARKETS FOR EXPORTING YOUR PRODUCT
TOP CONSUMING MARKETS
UNSATURATED MARKETS
TOP IMPORTING MARKETS
MOST PROFITABLE MARKETS
7. PRODUCTION
The Latest Trends and Insights into The Industry
PRODUCTION VOLUME AND VALUE
8. IMPORTS
The Largest Import Supplying Countries
IMPORTS FROM 2012–2024
IMPORTS BY COUNTRY
IMPORT PRICES BY COUNTRY
9. EXPORTS
The Largest Destinations for Exports
EXPORTS FROM 2012–2024
EXPORTS BY COUNTRY
EXPORT PRICES BY COUNTRY
10. PROFILES OF MAJOR PRODUCERS
The Largest Producers on The Market and Their Profiles
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LIST OF TABLES
Key Findings In 2024
Market Volume, In Physical Terms, 2012–2024
Market Value, 2012–2024
Per Capita Consumption In 2012-2024
Imports, In Physical Terms, By Country, 2012–2024
Imports, In Value Terms, By Country, 2012–2024
Import Prices, By Country Of Origin, 2012–2024
Exports, In Physical Terms, By Country, 2012–2024
Exports, In Value Terms, By Country, 2012–2024
Export Prices, By Country Of Destination, 2012–2024
LIST OF FIGURES
Market Volume, In Physical Terms, 2012–2024
Market Value, 2012–2024
Market Structure – Domestic Supply vs. Imports, In Physical Terms, 2012-2024
Market Structure – Domestic Supply vs. Imports, In Value Terms, 2012-2024
Trade Balance, In Physical Terms, 2012-2024
Trade Balance, In Value Terms, 2012-2024
Per Capita Consumption, 2012-2024
Market Volume Forecast to 2030
Market Value Forecast to 2030
Products: Market Size And Growth, By Type
Products: Average Per Capita Consumption, By Type
Products: Exports And Growth, By Type
Products: Export Prices And Growth, By Type
Production Volume And Growth
Exports And Growth
Export Prices And Growth
Market Size And Growth
Per Capita Consumption
Imports And Growth
Import Prices
Production, In Physical Terms, 2012–2024
Production, In Value Terms, 2012–2024
Imports, In Physical Terms, 2012–2024
Imports, In Value Terms, 2012–2024
Imports, In Physical Terms, By Country, 2024
Imports, In Physical Terms, By Country, 2012–2024
Imports, In Value Terms, By Country, 2012–2024
Import Prices, By Country Of Origin, 2012–2024
Exports, In Physical Terms, 2012–2024
Exports, In Value Terms, 2012–2024
Exports, In Physical Terms, By Country, 2024
Exports, In Physical Terms, By Country, 2012–2024
Exports, In Value Terms, By Country, 2012–2024
Export Prices, By Country Of Destination, 2012–2024