Summer 2027
Global oil, natural gas exploration, refining
$41.54 - $60.58/hr
No H1B Sponsorship
Houston, TX, USA
In Person
On-site internship in Houston, TX; relocation may be considered within Chevron parameters. Must have permanent U.S. work authorization.
MBA
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Chevron is a global energy company that develops and supplies oil, natural gas, and other energy products. It operates across the energy value chain, from exploring and producing crude oil and natural gas to refining, distributing, and selling fuels and related products. Its system includes upstream activities to find and extract energy, downstream activities to refine and market products, and investments in other energy sectors. Chevron differentiates itself through a long history of growth via strategic acquisitions, expansion beyond oil into natural gas and additional energy fields, and an integrated approach that combines exploration, production, refining, and marketing at scale. The company aims to maintain leadership in the global energy market by adapting to industry changes and expanding its energy mix to meet demand while delivering value to shareholders.
Company Size
10,001+
Company Stage
IPO
Headquarters
San Ramon, California
Founded
1879
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Flexible Work Hours
Chevron reported strong second-quarter results, beating analyst expectations with revenue of $70.06 billion and adjusted earnings per share of $6.06. The company achieved its $3 billion annual structural cost reduction target six months early, according to CEO Michael Wirth. Production grew 22.5% year-on-year, driven by US upstream and refining operations. The integration of the Hess acquisition exceeded initial expectations for synergy benefits and free cash flow. During the earnings call, analysts questioned management about operational improvements at the Tengizchevroil asset, capital efficiency in shale portfolios including Bakken and Vaca Muerta, and the long-term outlook for Chevron's power business. Questions also focused on the sustainability of cost reductions and contingency plans for potential pipeline disruptions.
Chevron's commodity derivatives generated $368 million in its second quarter, rebounding from a $3.1 billion loss in the previous quarter, according to an SEC filing submitted Thursday. The company attributed the first-quarter losses to "heightened volatility in commodity prices associated with the ongoing conflict in the Middle East". Margin calls posted as cash collateral dropped from $870 million in the first quarter to $139 million by 30 June as oil prices fell from March highs. Chevron reported $12.1 billion in net income for the latest quarter, up from $2.5 billion in the same period last year, driven by increased production volumes and higher commodity prices during the Iran war. Chevron stock rose 1.4% to around $188 per share on Thursday.
Two US oil and gas companies are capitalising on the artificial intelligence boom by supplying infrastructure to data centres. Williams and Chevron are presenting this demand to investors as a significant opportunity. BloombergNEF projects US natural gas production must increase 36% by the mid-2030s, partly driven by data centre demand. Williams is building six behind-the-meter gas plants for data centres across America, including four serving Meta facilities in Ohio. The company announced over $5 billion in investments for these ventures, including funding from KKR. Environmental groups warn this development provides a lifeline to an industry requiring phase-out. Permit applications for five data centre-connected plants from both companies show potential annual emissions of 21 million tonnes of greenhouse gases, equivalent to Guatemala's yearly emissions.
Chevron reported second-quarter revenue of $70.06 billion, beating analyst estimates of $65.94 billion and marking 56.3% year-on-year growth. Adjusted earnings per share came in at $6.06, surpassing expectations of $5.57. The integrated energy company achieved its structural cost reduction target six months early, delivering $3 billion in annual run-rate savings. Oil production increased 22.5% year on year, whilst operating margin expanded to 24.3% from 9.9% in the prior-year quarter. Chevron announced a 20-year power purchase agreement with Microsoft for Project Kilby, signalling expansion into long-duration contracted power projects. The Hess acquisition integration exceeded targets, capturing 50% more synergies than initially planned. Management reaffirmed 2030 objectives, including annual production growth of 2% to 3% and adjusted free cash flow growth averaging greater than 10% per year.
President Donald Trump criticised ExxonMobil and Chevron on Monday for earning sharply higher profits during the war with Iran, urging them to cut consumer prices. "They're making too much money based on a shortage," Trump told reporters in the Oval Office. ExxonMobil reported earning $14.5 billion in the second quarter of 2026, double its earnings from the same period last year. Chevron posted $12 billion, its highest quarterly earnings in at least six years. "When you look at one company where they made 12 times what they made the year before, they ought to give some of that back to the public," Trump said. The earnings came as the Iran war pushed oil prices above $100 per barrel.