Chevron Gives Staff Bonus as Oil Prices Skyrocket

Chevron is rewarding its employees with a special bonus after reporting record earnings. The energy company's CEO, Mike Wirth, praised staff 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, as cited in an internal email by Wirth. This comes after Chevron's earnings were boosted by high oil prices due to the ongoing war in Iran.

US President Donald Trump has renewed his criticism of major oil companies, urging them to lower gasoline prices and calling out Wirth for not crediting the administration for the company's success.