Chevron is an integrated energy company with exploration, production, and refining operations worldwide. With production of 2.5 million of barrels of oil equivalent a day (66% oil), Chevron is the second-largest oil company in the U.S. Refineries are located in the U.S., U.K., South Africa, and throughout Asia for a total refining capacity of more than 2 million barrels of oil a day. Proven reserves at year-end 2008 stood at 11.2 billion barrels of oil equivalent (66% oil).