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2017-07-31 14:10:00

CHEVRON EARNINGS $1.45 BLN

CHEVRON EARNINGS $1.45 BLN

CHEVRON - Chevron Corporation (NYSE: CVX) reported earnings of $1.5 billion ($0.77 per share – diluted) for second quarter 2017, compared with a loss of $1.5 billion ($0.78 per share – diluted) in the second quarter of 2016. Included in the quarter were impairments and other non-cash charges totaling $430 million, partially offset by gains on asset sales of $160 million. Foreign currency effects increased earnings in the 2017 second quarter by $3 million, compared with an increase of $279 million a year earlier.
Sales and other operating revenues in second quarter 2017 were $33 billion, compared to $28 billion in the year-ago period.

 

CHEVRON 2Q 2017 RESULTS

 

“Second quarter results improved substantially from a year ago and year-to-date net cash flow is positive,” said Chairman and CEO John Watson. “We’re delivering higher production with lower capital and operating expenditures.”

“Oil and gas production was up 10 percent in the second quarter from a year ago,” Watson added. “Our Gorgon LNG Project in Australia closed the quarter running above nameplate capacity and we had record production from our shale and tight resource in the Permian Basin. First production from the Wheatstone LNG Project is expected next month.”

“Operating expenses were down 10 percent and capital spending was down 25 percent in the first six months of the year versus 2016,” Watson commented.

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Earlier: 

CHEVRON NET INCOME $2.7 BLN 

CHEVRON NET LOSS $497 MLN 

CHEVRON'S INVESTMENT DOWN 15% 

CHEVRON NET LOSS $912 MLN 

CHEVRON'S LNG FOR CHINA 

MAJORS DEBT'S RECORD 

CHEVRON SELLS $5 BLN

 

 

 

 

Tags: CHEVRON