Chevron awards staff special bonus following earnings blowout
CVX•Trump renews criticism of Big Oil
The extra cash was announced as U.S. President Donald Trump renewed his criticism of major oil companies, urging them to lower gasoline prices and calling out Wirth during a Fox News TV interview on Sunday for not crediting the administration for the company's success.
"Get your consumer (retail!) Oil Prices DOWN, NOW!" Trump wrote in a post on Truth Social. Chevron did not immediately respond to a request for comment about the statement.
Chevron to give employees a special bonus
Chevron will award employees a special bonus for operational results so far this year, following the U.S. oil producer's record earnings report on Friday that was boosted by high oil prices from the ongoing war in Iran.
The bonus will amount to half of monthly base pay for most employees, according to an internal email seen by Reuters.
CEO cites cost cuts, Hess synergies and safe operations
In the email on Monday, CEO Mike Wirth praised Chevron staffers for meeting cost-reduction targets, achieving deal synergies from the Hess acquisition ahead of schedule and operating safely amid geopolitical upheaval this year in Venezuela and the Middle East.
"Results like these in a year like this are not ordinary," Wirth wrote. "They reflect extraordinary effort under extraordinary circumstances."
