Chevron Corp has reported $14.21 billion in funds to governments for 2024 with Australia topping the record at $3.39 billion.
That was greater than Chevron’s residence nation; the USA acquired $1.59 billion.
The disclosure to the U.S. Securities and Trade Fee (SEC) consisted of taxes, royalties, manufacturing entitlements, charges, bonuses, and “neighborhood and social accountability” funds. The submitting included exploration-related funds made 2023 that had been delayed for reporting.
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Rounding up the highest 5 recipients are Nigeria at $2.91 billion, Angola at $1.74 billion and the Kuwait-Saudi Arabia Partitioned Zone at $1.09 billion.
Funds to Australia, the U.S. and Kuwait-Saudi Arabia had been principally taxation. Manufacturing entitlements comprised the majority of funds to Nigeria and Angola.
The oil and gasoline big paid Australia $3.33 billion in taxes for 2024. The remaining Australian funds consisted of $27.33 million for neighborhood and social accountability and $26.18 million in charges.
Chevron’s Aussie operations primarily include three pure gasoline tasks in Western Australia, which each export abroad and provide the home market.
On Barrow Island, Chevron operates the Gorgon Mission with a 47.3 p.c stake. Put into operation March 2016, Gorgon has three liquefaction trains with a mixed capability of 15.6 million metric tons each year (MMtpa) and a home gasoline plant that provides as much as 300 terajoules (tJ) a day, based on Chevron.
On the Pilbara coast, Chevron’s operated and 64.14 percent-owned Wheatstone Mission features a two-train LNG facility with a capability of 8.9 MMtpa and a home gasoline plant that delivers as much as 230 tJ per day, based on Chevron. Wheatstone shipped its first LNG October 2017.
On the Burrup Peninsula, Chevron owns a minority stake within the North West Shelf (NWS) Mission, operated by Australia’s Woodside Vitality Group Ltd. On July 25, 2025, the Worldwide Group of LNG Importers reported Woodside had completely shut down one of many challenge’s 5 trains, lowering capability from 16.9 MMtpa to 14.3 MMtpa. In the meantime the challenge’s home gasoline plant has a capability of 630 tJ per day however is operating beneath capability, based on Australia’s Business, Science and Assets Division.
Late final yr Chevron and Woodside entered an settlement to swap Australian belongings together with the Wheatstone and NWS tasks.
“Beneath the proposed transaction, Chevron Australia will switch to Woodside its 16.67 p.c non-operated curiosity within the North West Shelf Mission, NWS Oil Mission and its 20 p.c non-operated curiosity within the Angel Carbon Seize and Storage Mission”, Chevron mentioned in a press release December 19, 2024.
Upon the completion of the transaction, Woodside will maintain a 50 p.c stake within the NWS Mission, 66.67 p.c within the NWS Oil Mission and 40 p.c in Angel CCS, Woodside confirmed individually on the time.
“Chevron Australia will purchase Woodside’s 13 p.c non-operated curiosity within the Wheatstone Mission and 65 p.c operated curiosity within the Julimar-Brunello Mission”, added the assertion on Chevron Australia’s web site.
The opposite governments for whom Chevron reported funds for 2024 are Bangladesh ($842.79 million), Canada ($786.58 million), Equatorial Guinea ($593.17 million), Israel ($393.51 million), Thailand ($228.7 million), Argentina ($227.62 million), Kazakhstan ($137.42 million), the UK ($124.26 million), Mexico ($47.22 million), China ($42.61 million), Republic of the Congo ($27.23 million), Brazil ($25.74 million), Indonesia ($8.22 million), Myanmar ($6.56 million), Colombia ($1.23 million), Cameroon ($973,000), Egypt ($700,000), Cyprus ($642,000), Namibia ($500,000) and Suriname ($255,000).
Taxes totaled $6.9 billion, manufacturing entitlements $4.28 billion, royalties $2.49 billion, charges $289.39 million, neighborhood and social accountability funds $183.97 million and bonuses $61.39 million.
The SEC requires oil, gasoline and minerals builders to reveal funds to overseas governments or the U.S. authorities yearly by Type SD.
To contact the writer, e mail jov.onsat@rigzone.com
