• Walmart for energy: Like Walmart provides a vast range of essential goods through an integrated supply chain, Chevron is a massive, integrated company that sources, refines, and distributes essential energy products globally.

• The Coca-Cola of crude oil: Similar to how Coca-Cola is a universally recognized brand for a globally consumed beverage, Chevron is one of the world's largest and most established providers of the raw energy materials that power the global economy.

• Crude Oil: A primary raw material extracted from the earth, essential for energy production and manufacturing.
• Natural Gas: A versatile fossil fuel used for electricity generation, heating, and as a chemical feedstock.
• Refined Petroleum Products: Includes gasoline, diesel, jet fuel, and lubricants, serving transportation and industrial needs.
• Petrochemicals: Chemical products derived from oil and gas, used as building blocks for plastics and other industrial materials.
• Upstream Services (Exploration & Production): Identifying, extracting, and processing crude oil and natural gas from reservoirs.
• Downstream Services (Refining & Marketing): Transforming crude oil into various finished products and distributing them to consumers and businesses.
• Midstream Services (Transportation & Storage): Managing the global transportation and storage of crude oil, natural gas, and refined products.
• New Energies Development: Investing in and developing lower-carbon technologies and solutions, such as renewable fuels, hydrogen, and carbon capture.

Chevron (CVX) is a major integrated energy company that primarily sells its products to other businesses rather than directly to individuals. Due to the commodity nature of its principal products (crude oil, natural gas, refined petroleum products, and petrochemicals) and its vast global operations, Chevron does not typically disclose specific named customer companies as its major buyers in public filings.

Its products are often sold on global commodity markets, through long-term contracts with various entities, and via a broad network of wholesale distribution channels. Therefore, instead of specific company names, the following categories represent Chevron's major business customers:

1. Other Energy Companies and Independent Refiners: These customers purchase crude oil and natural gas directly from Chevron's upstream operations. This includes smaller, non-integrated refiners, power generation companies, and large energy trading firms that process or distribute these primary commodities.

2. Wholesale Distributors, Large Industrial Users, and Transportation Companies: This category encompasses businesses that purchase refined petroleum products in bulk. These customers include independent operators of branded Chevron/Texaco/Caltex service stations, unbranded fuel distributors, airlines (for jet fuel), shipping companies (for marine fuels), large trucking and logistics firms, and various industrial facilities that use fuels or lubricants for their operations.

3. Chemical and Manufacturing Industries: Through its 50/50 joint venture, Chevron Phillips Chemical Company LLC, Chevron sells petrochemical feedstocks and derivatives. These products are purchased by companies in the plastics, automotive, packaging, agriculture, and other manufacturing sectors for use in producing a wide range of industrial and consumer goods.

• Schlumberger (SLB)
• Halliburton (HAL)
• Baker Hughes (BKR)
• TechnipFMC (FTI)
• Fluor Corporation (FLR)

Michael K. Wirth Chairman of the Board and Chief Executive Officer

Michael K. Wirth joined Chevron in 1982 as a design engineer and has held various leadership roles across Downstream & Chemicals, Midstream & Development, and Global Supply & Trading. He became Chairman and CEO in 2018, following his role as Vice Chairman of the Board in 2017. Wirth has not founded or managed other companies, sold companies he was previously involved with to an acquirer, or shown a pattern of managing companies backed by private equity firms. He serves on the board of directors of Catalyst and the American Petroleum Institute, and is a member of the National Petroleum Council, the Business Roundtable, the World Economic Forum International Business Council, the American Heart Association CEO Roundtable, The Business Council, and the American Society of Corporate Executives.

Eimear P. Bonner Vice President and Chief Financial Officer

Eimear P. Bonner serves as Chevron's Vice President and Chief Financial Officer. Further specific background details regarding her previous involvement in founding or managing other companies, selling companies, or a pattern of managing companies backed by private equity firms were not readily available in the search results.

Mark A. Nelson Vice Chairman and Executive Vice President, Oil, Products & Gas

Mark A. Nelson is the Vice Chairman and Executive Vice President of Oil, Products & Gas. He previously held the position of Vice President of Midstream, Strategy & Planning and also served as President of International Products, overseeing refining and marketing businesses in Europe, Africa, the Middle East, and Asia. Additionally, he was president of Chevron's Canadian upstream business.

R. Hewitt Pate Vice President and General Counsel

R. Hewitt Pate serves as Vice President and General Counsel for Chevron Corporation. In this role, he directs the company's worldwide legal affairs and is a member of Chevron's Executive Committee. Prior to joining Chevron, Pate was a long-time partner at Hunton & Williams, where he headed the firm's Global Competition practice. He also served as the Assistant Attorney General for the Antitrust Division of the U.S. Department of Justice from 2003 to 2005.

Jeff B. Gustavson Vice President, Lower Carbon Energies

Jeff B. Gustavson is the Vice President of Lower Carbon Energies at Chevron. He also serves as the President of Chevron New Energies.

The accelerating global adoption of Electric Vehicles (EVs) poses a direct and growing threat to Chevron's downstream refined products business, particularly gasoline and diesel sales. As EV market share rapidly increases, driven by technological improvements, decreasing costs, and supportive government policies, demand for traditional internal combustion engine fuels is expected to peak and then decline, directly impacting a significant revenue stream for Chevron.

Rapid advancements and continuous cost reductions in renewable energy technologies (solar, wind) coupled with significant improvements in battery storage solutions threaten the long-term demand for Chevron's natural gas and other fossil fuels in the power generation sector. These technologies are increasingly competitive, making the transition to a renewable-dominated grid faster than previously anticipated and potentially stranding fossil fuel assets.

Chevron Corporation, an American multinational energy corporation, primarily specializes in oil and gas, operating across the entire value chain, including exploration, production, refining, marketing, and chemical manufacturing.

The addressable markets for Chevron's main products and services are sized as follows:

• Upstream (Crude Oil and Natural Gas Exploration & Production): The global oil and gas exploration and production (upstream) market size is estimated at approximately USD 4.0 trillion in 2025. Another estimate places the global oil and gas upstream activities market at USD 4.62 trillion in 2024, projected to reach USD 4.85 trillion in 2025. This segment accounts for a substantial share of the overall oil and gas market, with one source indicating 49.8% of the total market.
• Downstream (Refined Petroleum Products - Fuels): The global refined petroleum products market was estimated at USD 1.49 trillion in 2024 and is projected to grow to USD 2.04 trillion by 2035. Another report valued the global refined petroleum products market at USD 2.52 trillion in 2022, with a projection to reach USD 3.12 trillion by 2027. The Asia-Pacific region holds a significant share, dominating the global refined petroleum products market.
• Chemicals (Petrochemicals and Additives): The global chemical industry size was valued at approximately USD 6.18 trillion in 2024 and is projected to reach USD 6.32 trillion by 2025. The global chemicals market was valued at USD 6.18 trillion in 2024 and is expected to grow. Within this, the global specialty chemicals market, a key area for Chevron, was valued at USD 978.97 billion in 2024 and is projected to reach USD 1.31 trillion by 2030. The Asia-Pacific region is a major contributor to the global chemical market.
• Lubricants: The global lubricants market size was valued at approximately USD 147.42 billion in 2024 and is projected to reach USD 200.91 billion by 2033. Other estimates for the global lubricants market in 2024 include USD 145.02 billion, USD 144.4 billion, and USD 157.53 billion. The Asia-Pacific region is the dominant market for lubricants.

Chevron (CVX) is expected to drive future revenue growth over the next 2-3 years through several key initiatives and operational strengths:

1. Increased Oil and Gas Production: Chevron anticipates significant growth from its core production areas. The company expects production growth at the top end of its 6% to 8% range, excluding legacy Hess assets. This growth is fueled by strong performance in the Permian Basin and the ramp-up of projects like Tengizchevroil (TCO) in Kazakhstan, and assets in the Gulf of America. In Q3 2025, Chevron reported a record production of 4.1 million barrels of oil equivalent per day, a 21 percent increase year-over-year, with U.S. and worldwide net oil-equivalent production setting quarterly records.
2. Hess Acquisition and Synergy Realization: The acquisition of Hess Corporation, completed in July 2025, is a major driver of future revenue. The integration of Hess is on track to deliver $1 billion in annual synergies by year-end 2025 and is expected to extend production and free cash flow growth into the next decade. Hess assets contributed approximately 495 thousand barrels of oil equivalent per day (MBOED) to Chevron's production in Q3 2025, representing a significant 12% contribution to total production.
3. Advancement of Strategic Projects and Exploration: Chevron is progressing several strategic projects globally. The company plans to ramp up exploration activity, balancing mature areas with high-impact frontier areas, including new country entries in the South Atlantic margin, Middle East, and West Coast of South America. Key projects like Ballymore in the Gulf of America are progressing well, and potential developments in Argentina's Vaca Muerta basin are being explored for growth opportunities.
4. Optimized Permian Basin Operations: Chevron continues to optimize its operations in the Permian Basin, demonstrating operational efficiencies that contribute to production growth. Permian output surpassed 1 million barrels of oil equivalent per day (BOE/day) in Q2 2025, and production rose with moderated capital expenditure.