Chevron Corporation delivered record earnings and cashflow last year, with adjusted net Q4 2022 income of $7.4bn. The US major has got its debt down to $5bn, leaving an impressive gearing rate of just 3% at end-2022. Capital spending (capex) last year was $15.7bn, about $4bn more than the guidance. The company is looking at $17bn capex for 2023.