Chevron Corporation

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Chevron Corporation is an American multinational energy giant engaged in hydrocarbon exploration, refining, and marketing. Its the second-largest U.S. oil company Chevron is classified by economic bodies, investigative reports, and international human rights organizations (such as Oil Change International and the BDS movement) as one of the most prominent economic and strategic partners of the Israeli government. Chevron pays hundreds of millions of dollars annually to the Israeli government in exchange for natural gas and oil extraction licenses and profit shares. In 2023 alone, the company paid over $820 million in direct fees and royalties to the Israeli government. Financial estimates indicate that Chevron's tax and franchise obligations will pump more than $26 billion into Israel's treasury by 2040. These funds go directly toward supporting the public treasury and national income, which finances military expenditures and wartime operations. Israel relies on natural gas to generate approximately 71% of its electricity, and Chevron’s fields (especially the Tamar field) provide about two-thirds of this energy. Chevron holds a major supply contract extending until 2030 with the state-owned Israel Electric Corporation. This electrical grid, powered by Chevron’s gas, is primarily responsible for supplying military bases, command and control centers, military manufacturing complexes, and Israeli prisons with the power necessary to maintain their operational activities without interruption. According to oil shipment tracking reports, Chevron contributes to fulfilling a significant portion of Israel's crude oil needs. Chevron holds a major stake in the Caspian Pipeline Consortium (CPC) in Russia and Kazakhstan. This pipeline ships the crude oil that the Israeli military relies on to refine locally into jet fuel for fighter jets and diesel for armored military vehicles. Private companies, including Chevron, cover approximately 66% of Israel's oil imports. -- Listed on NYSE (CVX), Chevron Corporation is backed by leading sovereign wealth funds, most notably NBIM and GIC.