CHEVRON'S NET INCOME $4 BLN
CHEVRON - Chevron Corporation (NYSE: CVX) reported earnings of $4.0 billion ($2.11 per share – diluted) for third quarter 2018, compared with $2.0 billion ($1.03 per share – diluted) in the third quarter of 2017. Included in the current quarter were a write-off, an asset impairment, and a non-recurring contractual settlement totaling $930 million in the upstream segment, and a gain of $350 million on the sale of southern Africa refining, marketing and lubricant assets. Foreign currency effects decreased earnings in the 2018 third quarter by $51 million, compared with a decrease of $112 million a year earlier.
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South Korea's economy has been pushing to shed its heavy reliance on coal and nuclear power, with the latest target coming on top of a 2017 plan to increase the amount of renewables in its energy mix to 20 percent by 2030.
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