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CVX Revenue by Segments

Revenue by Segments

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As of Q4'24, Chevron's total revenue by segment shows Downstream leading with USD 12.8B, followed by Upstream at USD 5.1B, and All Other contributing USD 121M. This marks a significant decrease in both the Upstream and Downstream segments compared to previous quarters, while the All Other segment saw an unusual spike. From Q1'22 to Q4'24, the revenue trend for both Upstream and Downstream segments has been volatile, with notable peaks in Q1'24 (USD 19.4B for Upstream and USD 57.6B for Downstream) before a sharp decline in Q4'24. Downstream consistently dominates Chevron's revenue mix, but the latest quarter reflects a substantial contraction across all major segments, particularly Downstream, which dropped from USD 37B in Q3'24 to USD 12.8B in Q4'24. The All Other segment remained relatively insignificant throughout the period, except for the sudden jump in Q4'24.