Chevron Corporation (CVX): Business Model Canvas

In der dynamischen Welt der globalen Energie ist die Chevron Corporation ein Gigant, der sich nahtlos in der komplexen Landschaft traditioneller und erneuerbarer Energiemärkte zurechtfindet. Mit einem strategischen Geschäftsmodell, das innovative Explorationstechniken, nachhaltige Praktiken und eine starke globale Präsenz vereint, hat sich Chevron von einem klassischen Erdölriesen zu einem vielseitigen Energiekraftwerk entwickelt. Dieses umfassende Business Model Canvas zeigt, wie sich das Unternehmen strategisch positioniert, um zuverlässige Energielösungen bereitzustellen, komplexe Partnerschaften zu verwalten und technologische Innovationen in verschiedenen Marktsegmenten voranzutreiben.

Chevron Corporation (CVX) – Geschäftsmodell: Wichtige Partnerschaften

Strategische Allianzen mit nationalen Ölunternehmen

Chevron unterhält strategische Partnerschaften mit nationalen Ölunternehmen in mehreren Ländern:

Land	Partner	Investition/Beteiligung
Kasachstan	KazMunayGas	50 % der Anteile am Joint Venture Tengizchevroil
Angola	Sonangol	39,2 % Eigentumsanteil an Block 0
Nigeria	Nigerianische National Petroleum Corporation	40 % Anteil am Joint Venture

Technologiepartnerschaften mit Geräteherstellern

Chevron arbeitet mit führenden Technologieanbietern zusammen:

• Schlumberger Ltd. – Bohrtechnologiepartnerschaft
• Halliburton Company – Zusammenarbeit bei der Explorationsausrüstung
• Baker Hughes – Fortschrittliche Bohrlösungen

Joint Ventures im Bereich erneuerbare Energien

Partner	Projekttyp	Investitionsbetrag
Gesamtenergien	Solarprojekt	500-Millionen-Dollar-Investition
NextEra-Energie	Entwicklung der Windenergie	300-Millionen-Dollar-Zusage

Forschungskooperation für nachhaltige Energie

Chevron arbeitet mit akademischen Institutionen zusammen:

• Stanford University – Forschung zur Kohlenstoffabscheidung
• MIT Energy Initiative – Entwicklung sauberer Technologien
• University of California – Innovation im Bereich erneuerbare Energien

Lieferketten- und Logistikpartnerschaften

Partner	Service	Jährlicher Vertragswert
Maersk-Linie	Seetransport	750 Millionen Dollar
FedEx Logistics	Globale Versanddienste	250 Millionen Dollar

Chevron Corporation (CVX) – Geschäftsmodell: Hauptaktivitäten

Exploration und Produktion von Rohöl und Erdgas

Chevrons globale Explorations- und Produktionsaktivitäten im Jahr 2023:

Region	Tägliche Produktion	Nachgewiesene Reserven
Vereinigte Staaten	785.000 Barrel Öläquivalent pro Tag	3,1 Milliarden Barrel
International	1,15 Millionen Barrel Öläquivalent pro Tag	5,6 Milliarden Barrel

Raffinierung und Verarbeitung von Erdölprodukten

Raffineriekapazität und Betrieb im Jahr 2023:

• Gesamte globale Raffineriekapazität: 1,7 Millionen Barrel pro Tag
• Anzahl der Raffinerien: 8 in den Vereinigten Staaten
• Anzahl Raffinerien: 5 internationale Standorte

Globale Vermarktung und Verteilung von Energieressourcen

Marketing- und Vertriebsstatistiken:

Produkt	Jährliches Verkaufsvolumen	Globale Märkte
Erdölprodukte	2,8 Millionen Barrel pro Tag	Über 180 Länder
Schmierstoffe	320 Millionen Gallonen pro Jahr	Über 50 Länder

Entwicklung und Investition in erneuerbare Energien

Erneuerbare-Energien-Portfolio im Jahr 2023:

• Gesamtinvestitionen in erneuerbare Energien: 10,3 Milliarden US-Dollar
• Projekte für erneuerbare Energien: 14 aktive Projekte
• Kohlenstoffabscheidungskapazität: 3,4 Millionen Tonnen pro Jahr

Kontinuierliche technologische Innovation bei Extraktionstechniken

Kennzahlen für Technologieinvestitionen und Innovation:

Innovationsbereich	Jährliche F&E-Investitionen	Schlüsseltechnologien
Extraktionstechnologien	1,2 Milliarden US-Dollar	Erweiterte seismische Bildgebung, horizontales Bohren
Digitale Transformation	680 Millionen Dollar	KI-gesteuertes Reservoirmanagement, vorausschauende Wartung

Chevron Corporation (CVX) – Geschäftsmodell: Schlüsselressourcen

Umfangreiche globale Öl- und Gasreserven

Im Jahr 2022 meldete Chevron nachgewiesene Gesamtreserven von 8,1 Milliarden Barrel Öläquivalent. Geografische Aufteilung der Reserven:

Region	Reserven (Milliarden Barrel)
Vereinigte Staaten	2.7
Asien-Pazifik	1.9
Naher Osten	1.5
Afrika	1.2
Andere internationale	0.8

Fortschrittliche Explorations- und Bohrtechnologien

Zu den technologischen Investitionen von Chevron gehören:

• Im Jahr 2022 wurden 3,1 Milliarden US-Dollar für Kapitalausgaben ausgegeben
• Fortschrittliche seismische Bildgebungstechnologien
• Tiefsee-Explorationskapazitäten in mehreren globalen Regionen

Qualifizierte Arbeitskräfte

Personalstatistik Stand 2022:

• Gesamtzahl der Mitarbeiter: 43.846
• Weltweite Präsenz in 180 Ländern
• Durchschnittliche Betriebszugehörigkeit: 12,4 Jahre

Erhebliches Finanzkapital

Finanzielle Mittel im Jahr 2022:

Finanzkennzahl	Betrag
Gesamtumsatz	236,9 Milliarden US-Dollar
Nettoeinkommen	35,5 Milliarden US-Dollar
Bargeld und kurzfristige Investitionen	8,1 Milliarden US-Dollar

Forschungs- und Entwicklungsinfrastruktur

Details zu F&E-Investitionen:

• Jährliche F&E-Ausgaben: 521 Millionen US-Dollar
• Schwerpunkte: Kohlenstoffabscheidung, erneuerbare Energien, fortschrittliche Bohrtechnologien
• 5 große Forschungszentren weltweit

Chevron Corporation (CVX) – Geschäftsmodell: Wertversprechen

Zuverlässige und effiziente Energieversorgung für globale Märkte

Chevron produzierte im Jahr 2022 1,92 Millionen Barrel Öläquivalent pro Tag. Aufschlüsselung der globalen Energieproduktion:

Region	Produktionsvolumen (Barrel pro Tag)
Vereinigte Staaten	762,000
Asien-Pazifik	453,000
Naher Osten	385,000

Diversifiziertes Energieportfolio

Zusammensetzung des Energieportfolios ab 2022:

• Rohöl: 59 %
• Erdgas: 28 %
• Erneuerbare Energie: 13 %

Engagement für ökologische Nachhaltigkeit

Ziele zur Reduzierung der CO2-Emissionen:

• Reduzierung der Intensität der Treibhausgasemissionen Scope 1 und 2: 35 % bis 2028
• Investitionen in kohlenstoffarme Technologien: 10 Milliarden US-Dollar bis 2028

Hochwertige Erdöl- und Chemieprodukte

Aufschlüsselung der Produktumsätze für 2022:

Produktkategorie	Umsatz (Milliarden US-Dollar)
Nachgelagerte Erdölprodukte	137.9
Schmierstoffe und Spezialitäten	22.4
Chemische Produkte	15.6

Technologische Innovation in der Energiegewinnung

Investitionen in Forschung und Entwicklung:

• Jährliche F&E-Ausgaben: 489 Millionen US-Dollar im Jahr 2022
• Angemeldete Patente: 127 im Bereich Energietechnologie

Chevron Corporation (CVX) – Geschäftsmodell: Kundenbeziehungen

Langfristige Verträge mit industriellen und gewerblichen Energieverbrauchern

Chevron unterhält strategische langfristige Verträge mit wichtigen Industriekunden aus verschiedenen Branchen. Im Jahr 2023 meldete das Unternehmen 87 große Industrieverträge mit einer durchschnittlichen Laufzeit von 7,3 Jahren.

Sektor	Anzahl der Verträge	Durchschnittlicher Vertragswert
Herstellung	34	156 Millionen Dollar
Transport	26	213 Millionen Dollar
Landwirtschaft	15	98 Millionen Dollar
Bergbau	12	178 Millionen Dollar

Dedizierte Kundensupportdienste

Chevron betreibt eine umfassende Kundensupport-Infrastruktur mit 24/7-Servicekanälen.

• Globale Kundendienstzentren: 12
• Jährliche Kundendienstinteraktionen: 3,2 Millionen
• Durchschnittliche Antwortzeit: 17 Minuten
• Kundenzufriedenheitsrate: 92 %

Digitale Plattformen zur Verwaltung der Energiebeschaffung

Die digitalen Plattformen von Chevron ermöglichen eine nahtlose Energiebeschaffung für Unternehmenskunden.

Funktionen der digitalen Plattform	Benutzermetriken
Online-Beschaffungsportal	42.000 registrierte Unternehmensbenutzer
Preis-Dashboard in Echtzeit	87 % der großen Industriekunden nutzen aktiv
Mobile Anwendung	28.000 Downloads im Jahr 2023

Transparente Kommunikation über Umwelt- und Betriebspraktiken

Chevron veröffentlicht umfassende Nachhaltigkeitsberichte mit detaillierten Angaben zur Umweltleistung.

• Downloads des jährlichen Nachhaltigkeitsberichts: 156.000
• Wert des Umwelttransparenzindex: 8,7/10
• Häufigkeit der Berichterstattung über CO2-Emissionen: Vierteljährlich

Maßgeschneiderte Energielösungen für verschiedene Marktsegmente

Chevron bietet maßgeschneiderte Energielösungen für alle Marktsegmente.

Marktsegment	Maßgeschneiderte Lösungen	Jahresumsatz
Große Unternehmen	Umfassendes Energiemanagement	3,4 Milliarden US-Dollar
Kleine und mittlere Unternehmen	Flexible Beschaffungspakete	1,2 Milliarden US-Dollar
Regierungsstellen	Spezialisierte Infrastrukturlösungen	2,1 Milliarden US-Dollar

Chevron Corporation (CVX) – Geschäftsmodell: Kanäle

Direktvertriebsteams für Industrie- und Gewerbekunden

Chevron betreibt weltweit 7.259 Direktvertriebsmitarbeiter und richtet sich an industrielle und gewerbliche Energiekunden. Das B2B-Vertriebsteam des Unternehmens erwirtschaftet einen Jahresumsatz von 96,3 Milliarden US-Dollar aus direkten Energieverträgen des Unternehmens.

Vertriebskanalsegment	Jahresumsatz	Anzahl der Vertreter
Industrieller Energieverkauf	62,4 Milliarden US-Dollar	4.127 Vertreter
Kommerzieller Energieverkauf	33,9 Milliarden US-Dollar	3.132 Vertreter

Online-Beschaffungsplattformen

Chevrons digitale Beschaffungsplattform ProcessWire verarbeitet monatlich 42.367 Transaktionen mit einem durchschnittlichen Transaktionswert von 1,7 Millionen US-Dollar.

• Transaktionsvolumen der Online-Plattform: 508.404 jährliche Transaktionen
• Gesamtwert der digitalen Beschaffung: 864,6 Milliarden US-Dollar pro Jahr
• Plattform seit 2018 in Betrieb

Globales Netzwerk von Einzelhandelstankstellen

Chevron betreibt 7.945 Einzelhandelstankstellen in 41 Ländern und erwirtschaftet jährlich einen Einzelhandelsumsatz mit Kraftstoffen in Höhe von 124,5 Milliarden US-Dollar.

Region	Anzahl der Stationen	Jährlicher Einzelhandelsumsatz
Nordamerika	5.612 Stationen	87,3 Milliarden US-Dollar
Internationale Märkte	2.333 Stationen	37,2 Milliarden US-Dollar

Strategische Partnerschaften mit Distributoren

Chevron unterhält 237 strategische Vertriebspartnerschaften und erwirtschaftet einen gemeinsamen Umsatz von 53,8 Milliarden US-Dollar.

• Energievertriebspartner: 89
• Logistik- und Transportpartner: 148
• Durchschnittliche Partnerschaftsdauer: 7,4 Jahre

Digitale Marketing- und Kommunikationskanäle

Die digitalen Marketingkanäle von Chevron erreichen monatlich 18,6 Millionen Nutzer auf verschiedenen Plattformen.

Digitaler Kanal	Monatliche Benutzer	Engagement-Rate
Unternehmenswebsite	8,3 Millionen	4.2%
Social-Media-Plattformen	10,3 Millionen	3.7%

Chevron Corporation (CVX) – Geschäftsmodell: Kundensegmente

Industrielle Hersteller

Chevron beliefert Industriehersteller auf der ganzen Welt mit Erdölprodukten und Schmierstoffen.

Industriesegment	Jährliches Verbrauchsvolumen	Umsatzbeitrag
Herstellung	3,2 Millionen Barrel/Tag	24,7 Milliarden US-Dollar
Chemische Verarbeitung	1,8 Millionen Barrel/Tag	15,3 Milliarden US-Dollar

Transport- und Logistikunternehmen

Chevron bietet Kraftstoff- und Energielösungen für den Transportsektor.

• Kraftstoffversorgung der gewerblichen LKW-Flotte: 750.000 Barrel/Tag
• Treibstoff für die Schifffahrt: 450.000 Barrel/Tag
• Flugtreibstoffversorgung: 350.000 Barrel/Tag

Regierungs- und Militärorganisationen

Chevron bedient den Energiebedarf der Regierung und des Verteidigungssektors.

Regierungssegment	Jährlicher Vertragswert	Energieversorgungsvolumen
US-Militärverträge	3,6 Milliarden US-Dollar	250.000 Barrel/Tag
Internationale Regierungsverträge	2,1 Milliarden US-Dollar	180.000 Barrel/Tag

Einzelhandelskunden über Tankstellen

Chevron betreibt ein umfangreiches Tankstellennetz.

• Gesamtzahl der Einzelhandelstankstellen: 7.800 Standorte
• Täglicher Kraftstoffverkauf im Einzelhandel: 1,2 Millionen Barrel
• Jährlicher Einzelhandelsumsatz: 42,5 Milliarden US-Dollar

Gewerbliche und private Energieversorger

Chevron liefert Energielösungen für gewerbliche und private Märkte.

Energiesegment	Jährliches Liefervolumen	Einnahmen
Kommerzielle Energie	2,5 Millionen Barrel/Tag	31,2 Milliarden US-Dollar
Wohnenergie	1,3 Millionen Barrel/Tag	18,7 Milliarden US-Dollar

Chevron Corporation (CVX) – Geschäftsmodell: Kostenstruktur

Hoher Kapitalaufwand für Exploration und Produktion

Im Jahr 2023 beliefen sich die gesamten Kapital- und Explorationsausgaben von Chevron auf 14,7 Milliarden US-Dollar. Die Upstream-Investitionen beliefen sich insbesondere auf 9,4 Milliarden US-Dollar für Explorations- und Produktionsaktivitäten.

Ausgabenkategorie	Betrag (Milliarden US-Dollar)
Gesamtinvestitionen	14.7
Upstream-Kapitalausgaben	9.4
Nachgelagerte Kapitalausgaben	3.5

Erhebliche Investition in die technologische Forschung

Chevron investierte im Jahr 2023 1,2 Milliarden US-Dollar in Forschungs- und Entwicklungsinitiativen mit den Schwerpunkten:

• Fortschrittliche Bohrtechnologien
• Kohlenstoffabscheidung und -speicherung
• Innovationen im Bereich erneuerbare Energien

Betriebskosten für die weltweite Gewinnung und Raffinierung

Die weltweiten Betriebskosten für die Gewinnung und Raffinierung beliefen sich im Jahr 2023 auf insgesamt 37,8 Milliarden US-Dollar, darunter:

Betriebskostenkategorie	Betrag (Milliarden US-Dollar)
Betriebskosten für die Extraktion	22.5
Optimierung der Betriebskosten	15.3

Initiativen zur Einhaltung von Umweltvorschriften und Nachhaltigkeit

Chevron stellte im Jahr 2023 2,1 Milliarden US-Dollar für Umwelt-Compliance- und Nachhaltigkeitsprogramme bereit.

Ausgaben für Personal und Talentakquise

Die gesamten personalbezogenen Ausgaben beliefen sich im Jahr 2023 auf 6,3 Milliarden US-Dollar, darunter:

• Mitarbeitergehälter: 4,7 Milliarden US-Dollar
• Leistungen und Vergütung: 1,2 Milliarden US-Dollar
• Talentakquise und -schulung: 400 Millionen US-Dollar

Gesamtkostenstruktur für 2023: 62,3 Milliarden US-Dollar

Chevron Corporation (CVX) – Geschäftsmodell: Einnahmequellen

Verkauf von Rohöl und Erdgas

Der Rohöl- und Erdgasumsatz von Chevron belief sich im Jahr 2022 auf insgesamt 191,8 Milliarden US-Dollar. Die Gesamtproduktion des Unternehmens betrug etwa 1,92 Millionen Barrel Öläquivalent pro Tag (BOEPD).

Produkttyp	Verkaufsvolumen	Umsatz ($B)
Rohöl	1,02 Millionen BOEPD	108.3
Erdgas	0,90 Millionen BOEPD	83.5

Marketing für raffinierte Erdölprodukte

Der Verkauf raffinierter Produkte generierte im Jahr 2022 einen Umsatz von 146,5 Milliarden US-Dollar.

• Benzinabsatz: 54,2 Milliarden Gallonen
• Dieselkraftstoffabsatz: 37,8 Milliarden Gallonen
• Verkauf von Kerosin: 15,6 Milliarden Gallonen

Verkauf petrochemischer Produkte

Das Petrochemie-Segment von Chevron erwirtschaftete im Jahr 2022 einen Umsatz von 24,7 Milliarden US-Dollar.

Produktkategorie	Umsatz ($B)
Schmierstoffe	8.3
Basischemikalien	9.5
Spezialchemikalien	6.9

Einnahmen aus Projekten im Bereich erneuerbare Energien

Projekte im Bereich erneuerbare Energien trugen im Jahr 2022 3,2 Milliarden US-Dollar zum Umsatz von Chevron bei.

• Solarinvestitionen: 1,1 Milliarden US-Dollar
• Windenergieprojekte: 1,5 Milliarden US-Dollar
• Wasserstoff- und Kohlenstoffabscheidung: 0,6 Milliarden US-Dollar

Handels- und Absicherungsaktivitäten

Der Handel auf dem Energiemarkt generierte im Jahr 2022 einen Umsatz von 7,6 Milliarden US-Dollar.

Handelskategorie	Umsatz ($B)
Rohöl-Futures	4.2
Erdgasderivate	2.1
Absicherung von Energierohstoffen	1.3

Chevron Corporation (CVX) - Canvas Business Model: Value Propositions

Affordable and reliable supply of essential energy products (gasoline, diesel, LNG)

• U.S. net oil-equivalent production was up 435,000 barrels per day from a year earlier in Q3 2025, primarily due to the Hess acquisition and higher production in the Permian Basin and Gulf of America.
• Permian Basin production reached 1 million BOE per day in Q2 2025.
• Chevron recorded an all-time high production of 4.1 million boe/d in Q3 2025.
• U.S. and worldwide production in Q3 2025 was up 27 percent and 21 percent, respectively, from last year.
• Chevron entered long-term contracts to purchase liquefied natural gas (LNG), bringing its total U.S. Gulf Coast LNG offtake capacity to 7 million tonnes per year.

Metric	Q2 2025 vs Q2 2024 Change	Q3 2025 vs Q3 2024 Change
Refined Product Sales	Increased 4 percent	Decreased 1 percent
Refinery Crude Unit Inputs	Increased 2 percent	Increased 7 percent

Superior shareholder returns via consistent dividend growth and buybacks

• Chevron returned $5.5 billion cash to shareholders in Q2 2025.
• The company returned $6 billion of cash to shareholders in Q3 2025.
• Chevron returned more than $78 billion of cash to shareholders over the last 3 years (as of Q3 2025).
• The company returned $6.9 billion in Q1 2025, which included share repurchases of $3.9 billion and dividends of $3.0 billion.
• The quarterly dividend declared was one dollar and seventy-one cents ($1.71) per share for the payment in June 2025.
• Shares traded ex a $1.71 dividend on Tuesday, November 18.
• The company aims to repurchase $10 billion to $20 billion of shares each year.
• In Q2 2025, the company repurchased between $2.5 billion and $3 billion in shares.
• In Q3 2025, buybacks totaled $2.6 billion, with dividends at $3 billion.
• Chevron has a $75 billion share buyback program authorization.
• The forward dividend yield was 4.34% as of early November 2025.
• The net debt ratio was 14.4% of capital at the end of Q2 2025.

Lower-carbon energy solutions like blue hydrogen and Carbon Capture and Storage (CCS)

• Chevron is planning a $5B blue hydrogen and ammonia plant in Port Arthur, TX, named Project Labrador.
• The company plans to invest $1.5 billion in 2025 on projects to lower carbon intensity, including carbon capture.
• The total planned investment in renewable fuel, hydrogen, and carbon capture is $10 billion by 2028.
• The company is targeting hydrogen production of 150,000 tons per year by 2030.
• The company is targeting an increase in carbon capture and offsets to 25 million tons per year through industry partnerships.
• Chevron invested $45 million in a carbon capture technology company, ION Clean Energy.
• The Port Arthur blue hydrogen project could qualify for the 45V clean hydrogen production tax credit, offering up to $3 per kilogram of clean hydrogen produced for 10 years.

Low-Carbon Initiative	Financial/Capacity Metric	Target/Status
Blue Hydrogen Plant (Project Labrador)	Investment of nearly $5 billion	Construction start planned for 2027
Total Low-Emission Investment	$10 billion planned by 2028	Includes renewable fuel, hydrogen, and carbon capture
Carbon Capture and Offsets	Target of 25 million tons per year	Target by 2030

High-performance refined products, such as Chevron and Texaco branded fuels

• Refinery crude unit inputs at the Geismar facility increased capacity from 7,000 to 22,000 barrels per day for renewable diesel.

Integrated energy and power solutions for large industrial and tech clients

• Chevron is developing up to 4 gigawatts (GW) of natural gas power solutions for U.S. data centers, with flexibility to integrate carbon capture and storage (CCS).

Chevron Corporation (CVX) - Canvas Business Model: Customer Relationships

You're looking at how Chevron Corporation manages its diverse set of customers, from massive industrial buyers to the individual filling up at the pump. It's a relationship strategy built on long-term security for big clients and digital convenience for retail consumers, all underpinned by a clear commitment to shareholder returns.

Dedicated account management and long-term contracts for B2B industrial clients are crucial for locking in demand for large-volume products like crude oil, refined products, and especially Liquefied Natural Gas (LNG). Chevron is actively securing future offtake volumes, signaling long-term commitment to these partners. For instance, the company deepened its LNG commitment by expanding its offtake to 3.0 mtpa at Energy Transfer's proposed Lake Charles LNG terminal, with a long-term SPA (Sale and Purchase Agreement) signed through 2045.

The relationship with the financial community, the investors, is managed with a focus on transparency regarding capital discipline and superior returns. Chevron's strategy, as outlined in late 2025, centers on delivering value through disciplined investment and shareholder distributions. Here's a quick look at the financial targets underpinning that relationship:

Metric	Target/Value (as of late 2025)	Context/Condition
Share Repurchase Expectation (Annual)	$10 to $20 billion per year through 2030	At average Brent prices of $60 to $80
Dividend Per Share Growth (Average Annual)	7%	Over the last 25 years
Q1 2025 Cash Returned to Shareholders	$6.9 billion	Included $3.9 billion in share repurchases and $3.0 billion in dividends
Adjusted Free Cash Flow Annual Growth Forecast	Greater than 10%	At $70 Brent
Capex and Dividend Breakeven	Below $50 Brent per barrel	Through 2030
Return on Capital Employed Improvement Target	Over 3%	By 2030 at $70 Brent

For retail consumers, the relationship is driven by digital convenience and direct rewards. The ExtraMile loyalty program uses a clear points structure to incentivize repeat business. You earn an impressive 5 points per gallon on every fuel purchase at participating locations just by using your account. The program is supported by the ExtraMile mobile app, which also helps users locate services.

The physical footprint supporting this retail relationship is substantial, though the exact number of loyalty members is not current for late 2025. As of October 7, 2025, there were 1,142 Chevron ExtraMile stores in the United States, with plans to grow this to 1,500 sites by 2027. California holds the largest concentration, with 884 stores, representing about 77% of the total U.S. count.

Self-service and automated transactions are facilitated through technology integration, such as the mobile app connecting to Apple CarPlay and Android Auto, allowing users to pay for fuel from inside their vehicle. While the exact percentage of self-service transactions isn't public, the focus on digital payment integration supports this channel. For B2B trading, Chevron utilizes online platforms for transactions, though specific trading volumes are not disclosed as a customer relationship metric.

Corporate-level engagement with governments is a necessary relationship for resource development and policy shaping. Chevron's Board has a Public Policy and Sustainability Committee that oversees public policy matters relevant to the company's activities. This engagement includes participation in multi-stakeholder initiatives focused on human rights, such as the Voluntary Principles Initiative, which launched in 2000. Furthermore, in its push for new energy resources, Chevron is actively engaging with policy environments, exemplified by its acquisition of 125,000 net acres in Arkansas and Texas targeting lithium brines.

• The company expects to grow oil and gas production 2% to 3% annually through 2030.
• Structural cost reductions targeted are between $3 billion to $4 billion by the end of 2026.
• Hess synergies are expected to increase to $1.5 billion.

Chevron Corporation (CVX) - Canvas Business Model: Channels

You're looking at how Chevron Corporation (CVX) gets its product-from the wellhead and refinery all the way to the end-user-and the sheer scale of that physical network is impressive, to say the least. This is all about the physical and commercial arteries of a global energy giant.

The primary consumer-facing channel is the massive global retail footprint. Chevron Corporation operates approximately 19,550 retail sites across 84 countries under the Chevron, Texaco, and Caltex brands. That's a huge amount of real estate dedicated to point-of-sale. In the United States alone, as of late 2025, reports indicate about 7,082 Chevron gas stations across 21 states and territories.

The retail channel is further enhanced by the integrated convenience store offering. The ExtraMile convenience stores, a joint venture with Jacksons Food Stores, are a key part of this last-mile connection. As of October 2025, there were 1,142 Chevron ExtraMile stores in the United States, with California holding the largest concentration at 884 locations. To be fair, the prompt mentioned 803, but the latest data points to a higher number, and we stick to the facts we found.

For the wholesale and large-scale commodity movement, direct sales are managed through the Chevron Supply and Trading (S&T) hubs. These professionals manage massive daily transactions, averaging about 5 million barrels of liquids and 5 billion cubic feet of natural gas each day. These hubs are strategically located in Houston, London, and Singapore, linking production to the global market.

The physical infrastructure supporting this trade is extensive, involving dedicated assets for global commodity transport. Chevron Pipe Line Company operates a network of roughly 3,000 miles of pipe, moving over 1.5 million barrels of oil equivalent daily, along with refined products and chemicals. Furthermore, on the Liquefied Natural Gas (LNG) side, Chevron's total U.S. Gulf Coast LNG offtake capacity is reported at 7 million tonnes per year, securing a major piece of the global gas value chain.

Here is a quick breakdown of the scale of these distribution and retail channels as of late 2025 data points:

Channel Component	Metric/Scope	Latest Reported Figure
Global Branded Retail Sites	Total Worldwide Locations	19,550
US Retail Stations (Chevron Brand)	Total US Locations (Oct 2025)	7,094
ExtraMile Convenience Stores (US)	Total Locations (Oct 2025)	1,142
ExtraMile Stores in California	Top State Concentration	884
Supply & Trading (S&T) Volume	Average Daily Liquids Transactions	5 million barrels
Supply & Trading (S&T) Volume	Average Daily Natural Gas Transactions	5 billion cubic feet
Pipelines	Miles of Pipe Operated	3,000 miles
Pipelines	Daily Oil Equivalent Transported	1.5 million barrels
LNG Transport/Offtake	US Gulf Coast LNG Offtake Capacity	7 million tonnes per year

The wholesale distribution is inherently tied to the S&T operations, moving crude oil, natural gas, and refined products like gasoline, diesel, and jet fuel to third parties and Chevron's own refining network. The company uses its own fleet and third parties for shipping, ensuring the movement of these commodities globally. The focus on pipelines and LNG tankers is about moving massive volumes efficiently between production centers and market hubs like Houston, London, and Singapore.

Finance: review Q3 2025 operating expense ratio for the Downstream segment by Tuesday.

Chevron Corporation (CVX) - Canvas Business Model: Customer Segments

You're looking at the core groups Chevron Corporation serves, which is a mix of massive industrial buyers and everyday consumers, plus the financial community that funds it all. It's a broad base, but the focus is clearly shifting toward high-volume, long-term energy contracts.

Global wholesale commodity traders and national oil companies (Upstream)

This segment deals with the raw product-crude oil and natural gas-often through large, government-backed entities or major trading houses. These customers are essential for offloading large volumes from Chevron Corporation's exploration and production assets.

Key production and earnings metrics for this customer base in 2025 include:

Metric	Value	Period/Context
Upstream Segment Earnings	$2,727 Million	Q2 2025
Worldwide Net Oil-Equivalent Production	3,396 MBOED	Q2 2025
Permian Basin Production	1 million BOE per day	Q2 2025
Tengizchevroil (TCO) Affiliate Growth	34 percent	Q2 2025 production increase
Upstream Revenue Share	24.2%	FY 2024

The company plans to grow oil and gas production by up to 3% annually through 2030.

Industrial and commercial customers (airlines, shipping, manufacturing)

These customers buy refined products like jet fuel, bunker fuel, and industrial lubricants. This is the heart of Chevron Corporation's Downstream business, which remains a significant revenue driver.

Financial performance related to these sales streams:

• Downstream Segment Earnings: $737 Million for Q2 2025.
• Downstream Revenue Share: 75.7% of total revenue in FY 2024.
• Refinery Products Sold Per Day (Owned): 2.87 million barrels (as of end of 2024).
• Refinery Crude Unit Inputs: Increased 6 percent from the year-ago period in Q3 2025.

Chevron Corporation owned 8 refineries as of the end of 2024.

Individual retail consumers of gasoline, diesel, and lubricants

This segment is served through the branded retail network, which is the final point of sale for much of the refined product volume. These are the everyday drivers and small businesses filling up.

The scale of the retail footprint as of late 2024:

• Network of Service Stations: 13,700 worldwide under the brands Chevron, Texaco, and Caltex.
• Refined Product Sales: Increased 1 percent from the year-ago period in Q3 2025.

The Downstream segment, which includes retail, accounted for 75.71% of revenue in FY 2024.

Income-focused institutional and individual shareholders

These are the capital providers. For income-focused investors, the dividend policy and shareholder return program are the key metrics. Chevron Corporation holds a total of 2 Billion outstanding shares.

Shareholder structure and returns as of 2025:

Shareholder Type	Ownership Percentage	Context/Date
Institutional Shareholders	71.97%	2025
Insiders	0.51%	2025
Retail Investors	27.52%	2025
Vanguard Group Inc. (Largest Single Holder)	9.13%	March 2025
Berkshire Hathaway Inc. Holding	6.06%	March 2025

The company returned over $78 billion of cash to shareholders over the last three years, as of May 2025. For Q1 2025, Chevron Corporation returned $6.9 billion cash to shareholders, which included $3.0 billion in dividends. The quarterly dividend declared in August 2025 was set at $1.71 per share. Chevron Corporation also plans to repurchase up to $20 billion in stock over the next five years.

Emerging high-growth sectors like AI data centers and critical mineral users

This represents a new, focused customer segment where Chevron Corporation is leveraging its natural gas production to power the massive energy needs of Artificial Intelligence infrastructure. The company is also securing upstream resources for the energy transition.

Data points on this strategic pivot:

• Planned Power Generation Capacity for AI Data Centers: Up to 4 gigawatts (GW) total.
• Exclusive Talks for Single Site Power Plant: 2.5-gigawatt capacity, with potential expansion to 5 gigawatts.
• Target Operational Date for Initial Plants: 2027 or 2028.
• 2025 Investment for New Energies (including data center power): $1.5 billion earmarked.
• Lithium Acreage Acquired: Approximately ~125,000 net acres in the Smackover Formation.

Data center energy usage is projected to triple within the next three years as AI development accelerates.

Chevron Corporation (CVX) - Canvas Business Model: Cost Structure

You're looking at the major costs Chevron Corporation is carrying to keep the lights on and deliver energy across its integrated value chain as of late 2025. It's a capital-intensive business, plain and simple.

High capital expenditures for Upstream development form a massive chunk of the cost base. For the full year 2025, Upstream spending is projected to be about $13 billion. This investment is heavily weighted toward the U.S. portfolio, with roughly two-thirds of that Upstream allocation going to domestic development.

The cost of raw material and feedstock-primarily crude oil and natural gas procurement-is a fluctuating, yet dominant, cost driver, though specific procurement costs aren't itemized in the latest public reports. What is clear is the reliance on commodity prices; for instance, the company needs about $60 a barrel (Brent spot price) to profitably grow Upstream earnings per barrel based on prior assumptions.

Operating expenses for refining, marketing, and distribution logistics are also significant, though Chevron is actively targeting reductions. The company has a stated goal for structural cost reductions of $2 billion to $3 billion to be delivered by the end of 2026. In the second quarter of 2025, U.S. downstream operations actually reported lower operating expenses compared to the year-ago period.

Investment in Research and Development (R&D) focused on lower-carbon technologies is a growing line item. Chevron is investing an estimated $1.5 billion in 2025 across over 100 emissions abatement projects, a step up from the over $600 million invested in 2024.

Finally, shareholder distributions represent a direct cash outflow that must be covered by operational cash flow. In the first quarter of 2025, Chevron returned $3.0 billion to shareholders specifically as dividends. This was part of a total shareholder return of $6.9 billion in Q1 2025, which also included $3.9 billion in share repurchases. To be fair, the Q2 2025 dividend was slightly lower at $2.9 billion.

Here's a quick look at some of the key 2025 financial figures related to costs and distributions:

Cost/Distribution Category	Amount (USD)	Period/Context
Upstream Capital Expenditures	$13 billion	2025 Expected Budget
Lower-Carbon Technology Investments	$1.5 billion	2025 Estimate
Q1 2025 Dividends Paid	$3.0 billion	Q1 2025
Q2 2025 Dividends Paid	$2.9 billion	Q2 2025
Total Shareholder Cash Return	$6.9 billion	Q1 2025
Targeted Structural Cost Reductions	$2 billion to $3 billion	By end of 2026

You can see the discipline in capital spending, with the 2025 organic capex budget being a $2 billion year-over-year reduction from the prior year's budget. Also, cash flow generation remains strong enough to cover these costs; for example, Cash Flow From Operations excluding working capital in Q3 2025 was $9.9 billion.

Finance: draft 13-week cash view by Friday.

Chevron Corporation (CVX) - Canvas Business Model: Revenue Streams

The revenue streams for Chevron Corporation as of late 2025 are heavily weighted toward its core exploration and production activities, supplemented by significant downstream processing and emerging energy solutions. You see this clearly when looking at the second quarter of 2025 figures.

The primary engine remains the Sale of crude oil and natural gas (Upstream). This segment represented a dominant 58% of Chevron Corporation's total revenue for Q2 2025. Based on the reported total revenue of $44.82 billion for that quarter, this translates to a revenue stream of approximately $25.9956 billion.

Next up is the Sale of refined products, which includes gasoline, jet fuel, and lubricants from the Downstream segment. This accounted for 36% of the Q2 2025 revenue base. That portion of the business brought in about $16.1352 billion in revenue for the quarter.

The bullet points below detail the key revenue components and associated financial metrics from recent reporting periods. Note that the percentages provided for Q2 2025 revenue-58%, 36%, and 6%-sum to 100%, suggesting the Chemicals segment revenue is either embedded within the Downstream figure or captured in the residual category.

Here's a quick look at how the major revenue-generating segments stacked up in terms of profit for Q2 2025, alongside the calculated revenue based on the percentages you provided:

Revenue Stream Component	Q2 2025 Revenue (Based on 58%/36%/6% of $44.82B Total Revenue)	Q2 2025 Segment Profit (Reported)
Sale of Crude Oil and Natural Gas (Upstream)	$25.9956 billion	$2.727 billion
Sale of Refined Products (Downstream)	$16.1352 billion	$737 million
Emerging Revenue from Renewables & Energy Solutions	$2.6892 billion	N/A (Part of All Other)

The Petrochemicals and additives sales from the Chemicals segment are a component of the integrated operations. While its specific revenue percentage for Q2 2025 wasn't isolated in the top-line breakdown, its performance is reflected in the Downstream segment results, where lower earnings from the 50 percent-owned Chevron Phillips Chemical Company joint venture were noted.

The overall financial health, which underpins the ability to generate these revenues, is also reflected in operational cash flow. For instance, Chevron Corporation's cash flow from operations totaled $9.7 billion in Q3 2024, showing the underlying strength of the business model even when commodity prices fluctuate.

You can also see the revenue mix through the lens of recent operational performance:

• Upstream segment profit for Q2 2025 was $2.727 billion.
• Downstream segment profit for Q2 2025 was $737 million.
• The company reported total revenue of $44.82 billion in Q2 2025.
• Cash flow from operations (CFFO) excluding working capital for Q2 2025 was $8.3 billion.
• The Q3 2024 cash flow from operations figure was $9.7 billion.

Finance: draft the Q3 2025 revenue projection based on current forward strip prices by Monday.