PDF《Chevron Reports Second Quarter》

2016 compared with $2.23 billion a year earlier. The decrease in earnings was primarily due to the absence of a $1.6 billion gain from the sale of the company'

s interest in Caltex Australia Limited in second quarter 2015, partially offset by second quarter

2016 asset sales gains. Lower margins on refined product sales also contributed to the decline. Foreign currency effects decreased earnings by $26 million in second quarter 2016, compared with a decrease of $103 million a year earlier. Refinery crude oil input of 764,000 barrels per day in second quarter

2016 decreased

1 percent from the year-ago period. Total refined product sales of 1.45 million barrels per day in second quarter

2016 were down

2 percent from the year-ago period due to lower gasoline and gas oil sales. ALL OTHER -

4 - - MORE - Three Months Ended June

30 Six Months Ended June

30 Millions of Dollars

2016 2015

2016 2015 Net Charges* $(286) $(166) $(287) $(582) *Includes foreign currency effects $(24) $(2) $3 $2 All Other consists of worldwide cash management and debt financing activities, corporate administrative functions, insurance operations, real estate activities and technology companies. Net charges in second quarter

2016 were $286 million, compared with $166 million a year earlier. The change between periods was mainly due to higher tax items and interest expense, partially offset by the absence of second quarter

2015 charges related to reductions in corporate staffs and lower environmental expenses. CASH FLOW FROM OPERATIONS Cash flow from operations in the first six months of

2016 was $3.7 billion, compared with $9.5 billion in the corresponding

2015 period. Excluding working capital effects, cash flow from operations in

2016 was $5.8 billion, compared with $11.6 billion in the corresponding

2015 period. CAPITAL AND EXPLORATORY EXPENDITURES Capital and exploratory expenditures in the first six months of

2016 were $12.0 billion, compared with $17.3 billion in the corresponding

2015 period. The amounts included $1.7 billion in

2016 and $1.5 billion in

2015 for the company'

s share of expenditures by affiliates, which did not require cash outlays by the company. Expenditures for upstream represented

92 percent of the companywide total in second quarter 2016. # # # NOTICE Chevron'

s discussion of second quarter

2016 earnings with security analysts will take place on Friday, July 29, 2016, at 8:00 a.m. PDT. A webcast of the meeting will be available in a listen-only mode to individual investors, media, and other interested parties on Chevron'

s Web site at www.chevron.com under the Investors section. Additional financial and operating information will be contained in the Earnings Supplement that will be available under Events and Presentations in the Investors section on the Web site. CAUTIONARY STATEMENTS RELEVANT TO FORWARD-LOOKING INFORMATION FOR THE PURPOSE OF SAFE HARBOR PROVISIONS OF THE PRIVATE SECURITIES LITIGATION REFORM ACT OF

1995 This press release contains forward-lookin........