Summary
Chevron Corporation's 2013 Form 10-K report highlights a significant year of operational activity and strategic investment across its global upstream and downstream businesses. The company maintained a strong focus on generating shareholder value through profitable growth in core areas and building new positions. Capital expenditures remained substantial, with a significant portion directed towards upstream activities, particularly international exploration and production, underscoring the company's commitment to long-term resource development. The report details extensive exploration and development projects across diverse geographies, including major deepwater developments in the U.S. Gulf of Mexico, significant oil sands and LNG projects in Canada, and key upstream assets in Asia, Africa, and Australia. Downstream operations continued with a focus on refinery efficiency and marketing under established brands, while chemical operations advanced through strategic expansions. The company also emphasized technological innovation and environmental responsibility in its operations.
Financial Highlights
45 data points| Revenue | $228.85B |
| R&D Expenses | $750.00M |
| SG&A Expenses | $4.51B |
| Operating Expenses | $192.94B |
| Interest Expense | $0 |
| Net Income | $21.42B |
| EPS (Basic) | $11.18 |
| EPS (Diluted) | $11.09 |
| Shares Outstanding (Basic) | 1.92B |
| Shares Outstanding (Diluted) | 1.93B |
Key Highlights
- 1Substantial capital expenditures of $41.9 billion in 2013, with 90% allocated to upstream activities, reflecting a strong focus on exploration and production.
- 2Diversified global operations spanning North America, South America, Europe, Africa, Asia, and Australia, with a notable emphasis on international upstream investments.
- 3Significant ongoing projects in the U.S. Gulf of Mexico, including the Jack/St. Malo and Big Foot developments, with substantial capital investment and projected production timelines.
- 4Major investments in large-scale LNG projects in Australia (Gorgon and Wheatstone), showcasing commitment to developing significant natural gas resources.
- 5Continued focus on shale and tight resources in the U.S. (Marcellus, Utica, Delaware Basins) and international exploration for unconventional resources, particularly in Poland and Romania.
- 6Downstream operations included refining nearly 2 million barrels of crude oil per day, with ongoing projects to improve refinery flexibility and efficiency.
- 7Commitment to technological advancement with $750 million in R&D expenses in 2013, focusing on innovation in upstream, downstream, and emerging energy technologies.