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Chevron's net global oil and gas production in the third quarter was 3.98 million barrels of oil equivalent per day, compared to 4.086 million barrels of oil equivalent per day in the same period last year. Among them, the net oil and gas production of the United States is 2,043 million barrels of oil equivalent per day. The crude oil processing capacity of US refineries reached 1.09 million b/d, a record, and the utilization rate of crude oil units was close to 98%. The company said that the year-on-year decline in global production was mainly affected by factors such as the impact of the Middle East conflict and the reduction in equity production due to high oil prices. Chevron's third-quarter operating cash flow was US$16 billion, compared to US$9.4 billion in the same period last year; free cash flow was US$12 billion, compared to US$4.9 billion in the same period last year; adjusted free cash flow was US$14.2 billion, compared to US$7 billion for the same period last year. The company said the increase in operating cash flow was mainly driven by increased profits and increased cash allocations from the Tengizchevroil joint venture. The adjusted free cash flow also benefited from the joint venture's repayment of $1 billion in loans and proceeds from asset sales.
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Chevron's net global oil and gas production in the third quarter was 3.98 million barrels of oil equivalent per day, compared to 4.086 million barrels of oil equivalent per day in the same period last year. Among them, the net oil and gas production of the United States is 2,043 million barrels of oil equivalent per day. The crude oil processing capacity of US refineries reached 1.09 million b/d, a record, and the utilization rate of crude oil units was close to 98%. The company said that the year-on-year decline in global production was mainly affected by factors such as the impact of the Middle East conflict and the reduction in equity production due to high oil prices. Chevron's third-quarter operating cash flow was US$16 billion, compared to US$9.4 billion in the same period last year; free cash flow was US$12 billion, compared to US$4.9 billion in the same period last year; adjusted free cash flow was US$14.2 billion, compared to US$7 billion for the same period last year. The company said the increase in operating cash flow was mainly driven by increased profits and increased cash allocations from the Tengizchevroil joint venture. The adjusted free cash flow also benefited from the joint venture's repayment of $1 billion in loans and proceeds from asset sales.
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