Chevron Corporation is a global integrated energy company that explores for, produces, and refines crude oil, natural gas, and natural gas liquids across more than 20 countries worldwide. The company operates three core business segments: upstream exploration and production of hydrocarbons, downstream refining and marketing of petroleum products and petrochemicals, and midstream operations; it also operates a 50% stake in a major petrochemical joint venture and is developing lower-carbon businesses including renewable diesel, carbon capture, hydrogen, and lithium extraction. The company generates revenue from the sale of crude oil, natural gas, and refined petroleum products—gasoline, diesel, jet fuel, and lubricants—whose prices and margins are determined by global commodity markets and supply-demand dynamics, with earnings closely tied to fluctuations in crude oil and natural gas prices.