雪佛龍

Chevron

????2012年《財富》500強排名：第3位

????2012年利潤（單位：百萬美元）：26,179

????和?？松梨谝粯樱?012年雪佛龍公司正是依靠旗下煉油廠支撐了盈利。油價上漲時，外界往往會呼吁綜合性能源公司剝離低利潤率的煉油業務。但是雪佛龍和?？松梨谖从枥頃Ｔ蛢r格下跌時，它們保住煉油業務以對沖風險的做法得到了回報。由于美國國內能源供應增加，雪佛龍公司旗下美國煉油業務的利潤比去年同期增長了三分之一。然而，雪佛龍公司整體利潤仍然出現下滑，因其在天然氣勘探等上游業務方面的巨額投入尚未開始獲得回報。

????——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.