(Finance) – Chevron registered a adjusted profit of $ 4.9 billion, or $ 2.56 per diluted share, in fourth quarter 2021compared to adjusted earnings of $ 298 million, or $ 0.16 per diluted share in Q4 2020. It is the first major oil company to publish quarterly results, which reported disappointed the analysts: the market expected earnings of $ 3.12 per share, according to Refinitiv data. Chevron posted an adjusted profit for the entire year 2021 of $ 15.6 billion, or $ 8.13 per diluted share, compared to adjusted earnings of $ 172 million, or $ 0.09 per diluted share, in 2020.
“In 2021 we registered a free cash flow record and accelerated our progress towards a low-carbon future – he said Mike WirthChevron president and chief executive officer – We are a better company than we were a few years ago: we are more efficient in terms of capital and costs, which allows us to give back more money to shareholders. “Free cash flow was 21 , 1 billion euros in the whole of 2021, of which 6.9 billion in the fourth quarter of the year.
There net production oil equivalent grew in 2021, reaching a record 3.10 million barrels per day. The largest net revenues came from activities in the Permian basin, the Gulf of Mexico and Australia, while the largest net reductions came from activities in Kazakhstan (mainly due to rising prices and their negative effect on reserves). The cash flow from operations in 2021 was $ 29.2 billion, compared to $ 10.6 billion in 2020.