July 24, 2024

Pierre R. Breber
Vice President and Chief Financial Officer
Chevron Corporation
6001 Bollinger Canyon Road
San Ramon, California 94583-2324

        Re: Chevron Corporation
            Form 10-K for Fiscal Year Ended December 31, 2023
            Filed February 26, 2024
            File No. 001-00368
Dear Pierre R. Breber:

       We have limited our review of your filing to the financial statements
and related
disclosures and have the following comment.

       Please respond to this letter within ten business days by providing the
requested
information or advise us as soon as possible when you will respond. If you do
not believe
the comment applies to your facts and circumstances, please tell us why in your
response.

       After reviewing your response to this letter, we may have additional
comments.

Form 10-K for Fiscal Year Ended December 31, 2023
Item 15. Exhibit and Financial Statement Schedules
Notes to the Consolidated Financial Statements
Note 24. Other Contingencies and Commitments, page 97

1.     We note in the fourth quarter 2023, you recognized an after-tax loss of
$1.9 billion related
       to abandonment and decommissioning obligations from previously sold oil
and gas
       production assets in the U.S. Gulf of Mexico, as companies that
purchased these assets
       have filed for protection under Chapter 11 of the U.S. Bankruptcy Code.
You disclose it is
       now probable and estimable that a portion of these obligations will
revert to the company
       and the cash outlays for these abandonment and decommissioning
obligations are
       expected to take place over the next decade. Please address the
following:

              Explain, in reasonable detail, the facts that resulted in the
determination a $1.9 billion
            loss should be recorded in the fourth quarter 2023. Your
explanation should address
            the assets that were sold, dates of each sale, and events that
occurred between the time
 July 24, 2024
Page 2

           of sale and when it was determined an accrual should be recorded
related to the
           abandonment and decommissioning obligations from the previously sold
assets.
           Address any terms of your contractual agreements or requirements by
government
           authorities which resulted in a portion of these obligations
reverting to the company
           subsequent to the sale.

             Tell us how you considered the application of ASC 450-20-50, Item
103 of
           Regulation S-K, Item 105 of Regulation S-K and Item 303 of
Regulation S-K to those
           facts in the periods prior to the fourth quarter of 2023. As part of
your response,
           address the requirement to describe any known trends, events or
uncertainties that are
           reasonably likely to have a material impact on your liquidity,
capital resources or
           results of operations.

             From your disclosure, it appears you have not previously accrued
expenses related to
           these obligations. Tell us how you considered FASB ASC 410-20 and
ASC 450-20-
           25 when determining a liability related to these obligations was not
necessary in the
           periods prior to the fourth quarter 2023.

             Provide your assessment for each period subsequent to the sale of
the assets
           addressing whether there was a reasonable possibility of an exposure
to loss in excess
           of the amount accrued and what the additional loss or range of loss
might be. Please
           tell us how you considered the disclosure requirements of FASB ASC
450-20-50-1
           through 50-4 and FASB ASC 275-10-50-6 through 50-15.

             Tell us, in reasonable detail, the amounts expected to be recorded
in future years
           related to the expected cash outlays for these abandonment and
decommissioning
           obligations.

       In closing, we remind you that the company and its management are
responsible for the
accuracy and adequacy of their disclosures, notwithstanding any review,
comments, action or
absence of action by the staff.

      Please contact Myra Moosariparambil at 202-551-3796 or Kimberly Calder at
202-551-
3701 with any questions.



                                                            Sincerely,

                                                            Division of
Corporation Finance
                                                            Office of Energy &
Transportation