雪佛龙

Chevron

    2012年《财富》500强排名：第3位

    2012年利润（单位：百万美元）：26,179

    和埃克森美孚一样，2012年雪佛龙公司正是依靠旗下炼油厂支撑了盈利。油价上涨时，外界往往会呼吁综合性能源公司剥离低利润率的炼油业务。但是雪佛龙和埃克森美孚未予理会。原油价格下跌时，它们保住炼油业务以对冲风险的做法得到了回报。由于美国国内能源供应增加，雪佛龙公司旗下美国炼油业务的利润比去年同期增长了三分之一。然而，雪佛龙公司整体利润仍然出现下滑，因其在天然气勘探等上游业务方面的巨额投入尚未开始获得回报。

    ——T.Z

    Fortune 500 rank: 3

    2012 profit (millions): 26,179

    Like Exxon Mobil, Chevron relied on its refineries to hold up its bottom line in 2012. When oil prices were climbing, integrated energy companies were urged to dump their low-margin refining units. But Chevron and Exxon didn't listen, and when crude prices dropped, the hedge paid off. Profits at Chevron's U.S. downstream operations jumped by a third year over year on increased supply of domestic energy. That wasn't enough to keep overall profits from slipping, however, as big bets on upstream ops, like natural gas exploration, have yet to pay off. --T.Z.