Chevron Corporation has been given a Buy rating by UBS, which highlights its position as a major player in the global oil and gas industry.

The company's net sales are mainly driven by its refining and distribution activities, which make up 73.1% of total sales. Chevron operates eight refineries with a combined output of 2.6 million barrels of products sold daily, supported by a network of 13,800 service stations under the Chevron, Texaco, and Caltex brands worldwide.

Apart from refining, Chevron is actively involved in the exploration and production of crude oil and natural gas, which contributes 26.8% to its net sales. In 2022, the company produced 1.2 million barrels of crude oil, 0.3 million barrels of liquefied natural gas, and 199.6 million cubic meters of natural gas per day.

The remaining 0.1% of sales comes from other activities, primarily power generation. It is worth noting that more than half (54.5%) of Chevron's net sales are generated from international markets, which demonstrates its global presence and influence in the energy sector.