Key facts
- Chevron will award employees a special bonus equivalent to half of their monthly base pay.
- The bonus recognizes operational results, cost-reduction targets, and deal synergies.
- Chevron reported record earnings, driven by high oil prices.
- CEO Mike Wirth praised employees for their extraordinary effort.
- President Donald Trump criticized oil companies for high gasoline prices.
Chevron announced it will award employees a special bonus for operational results achieved so far this year, following a record earnings report. The bonus, equivalent to half of most employees' monthly base pay, was detailed in an internal email from CEO Mike Wirth. Wirth commended staff for meeting cost-reduction targets, achieving deal synergies from the Hess acquisition ahead of schedule, and operating safely amidst geopolitical events in Venezuela and the Middle East.
The announcement comes as U.S. President Donald Trump renewed his criticism of major oil companies, urging them to lower gasoline prices and specifically calling out Wirth for not crediting the administration for the company's success. Trump posted on Truth Social, demanding oil prices be lowered immediately.