Chevron Awards Staff Bonus Following Record-Breaking Earnings Report

Chevron's employees are set to receive a special bonus due to the company's record-breaking earnings report. The U.S. oil producer reported boosted earnings thanks to high oil prices from the ongoing war in Iran.

In an internal email, CEO Mike Wirth praised Chevron staffers for meeting cost-reduction targets and achieving deal synergies from the Hess acquisition ahead of schedule.

The bonus will amount to half of monthly base pay for most employees. This comes as U.S. President Donald Trump renewed his criticism of major oil companies, urging them to lower gasoline prices.