Chevron Reports Record-Breaking Profits For 2022

Chevron (NYSE: CVX) reported on Friday its highest annual profit ever as its adjusted earnings for last year more than doubled from 2021 to hit $36.5 billion on the back of higher oil and gas prices and record U.S. production. Chevron, the first of Big Oil to report fourth-quarter and full-year 2022 profits this earnings season, said that its 2022 adjusted earnings surged to $36.5 billion, from earnings of $15.6 billion for 2021. Apart from record earnings, Chevron booked record annual cash flow from operations, at $49.6 billion, and free cash…