The second largest U.S. oil producer's adjusted net profit for 2022 exceeded its previous record set in 2011 by about $10 billion.
High prices from strong demand and shortages since Russia's invasion of Ukraine position Western energy firms to show a combined $200 billion profit for the year, according to analysts.
It left global oil and gas production guidance for this year at flat to up 3%.
FOURTH-QUARTER MISSIn the final quarter, Chevron posted adjusted earnings of $7.9 billion, or $4.09 per share, below analysts' estimate of a $4.38 per share profit.
Its refining business picked up and almost tripled results from the previous year as international fuel production delivered stronger margins.