Chevron Posts Record Q2 Earnings Amid Downstream Expansion
Chevron (CVX) has reported its Q2 2026 earnings, which came in at $12 billion after adjustments. This represents a significant increase of 56% year-over-year, with revenue reaching approximately $70.1 billion.
The company's production levels also saw an uptick, with total output reaching around 4,070 million barrels of oil equivalent per day (mboe/d), including 2.08 million barrels per day from U.S. operations.
Chevron has also made significant strides in its downstream operations, with the Tengiz field's third-generation plant now capable of processing 320,000 barrels per day.
The company has set its sights on divesting its Hong Kong fuels and lubricants unit, as well as its 50% stake in Singapore Refining Company, with the transaction expected to close in 2027.