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2018-04-30 09:55:00

CHEVRON NET INCOME $3.638 BLN

CHEVRON NET INCOME $3.638 BLN

CHEVRON - Chevron Corporation (NYSE: CVX) reported earnings of $3.6 billion ($1.90 per share – diluted) for first quarter 2018, compared with $2.7 billion ($1.41 per share – diluted) in the first quarter of 2017. Foreign currency effects increased earnings in the 2018 first quarter by $129 million, compared with a decrease of $241 million a year earlier.

Sales and other operating revenues in first quarter 2018 were $36 billion, compared to $32 billion in the year-ago period.

 

"First quarter earnings and cash flow improved significantly from a year ago," said Chairman and CEO Michael Wirth. "We benefitted from growing production and higher prices."

"Our cash flow continues to increase with the powerful combination of expanding upstream margins and volumes," Wirth added. "Oil and gas production is increasing, most notably in our Gorgon and Wheatstone LNG Projects in Australia, and our shale developments in the Permian Basin where production grew 65 percent from a year ago."

"Upstream volumes are expected to continue to increase in future quarters," Wirth added.

"In the downstream, we reached a significant milestone," Wirth commented. Chevron Phillips Chemical Company LLC, the company's 50 percent-owned affiliate, commenced operations of a new ethane cracker at its Cedar Bayou facility. At peak production, the unit is expected to produce 1.5 million metric tons per year and to be one of the largest and most energy efficient ethane crackers in the world.

"In addition, we continue our asset sale program," Wirth continued. The company sold its interest in the Elk Hills Field in California in early April and expects to complete the sale of its southern Africa refining, marketing and lubricant assets later in the year.

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Earlier:

 CHEVRON - AUSTRALIA LNG: $54 BLN
2018, April, 16, 09:10:00

CHEVRON - AUSTRALIA LNG: $54 BLN

REUTERS - The $54 billion Gorgon project came on stream in March 2016 but suffered numerous unplanned shutdowns in its early stages.

 CHEVRON: LNG SHORTAGE - 2025
2018, March, 7, 14:05:00

CHEVRON: LNG SHORTAGE - 2025

REUTERS - Chevron Corp said on Tuesday it expected supply shortage in the global liquefied natural gas (LNG) market by around 2025, echoing comments made last month by top LNG trader Royal Dutch Shell.

CHEVRON NET INCOME $9.2 BLN
2018, February, 5, 07:10:00

CHEVRON NET INCOME $9.2 BLN

CHEVRON - Chevron Corporation (NYSE: CVX) reported earnings of $3.1 billion ($1.64 per share – diluted) for fourth quarter 2017, compared with $415 million ($0.22 per share – diluted) in the 2016 fourth quarter. Included in the quarter were non-cash provisional tax benefits of $2.02 billion related to U.S. tax reform and a non-cash charge of $190 million related to a former mining asset. Foreign currency effects decreased earnings in the 2017 fourth quarter by $96 million.

 NIGERIA & CHEVRON PROJECT &1.7 BLN
2017, November, 22, 11:05:00

NIGERIA & CHEVRON PROJECT &1.7 BLN

Nigerian National Petroleum Corporation (NNPC) and Chevron Nigeria Limited (CNL) have executed the second and final phase of an Alternative Financing Agreement that would increase crude oil production in the country by about 39,000 barrels per day.

 CHEVRON NET INCOME $6 BLN
2017, October, 30, 11:20:00

CHEVRON NET INCOME $6 BLN

Chevron Corporation (NYSE: CVX) reported earnings of $2.0 billion ($1.03 per share – diluted) for third quarter 2017, compared with $1.3 billion ($0.68 per share – diluted) in the third quarter of 2016. Included in the quarter was a gain on an asset sale of $675 million and an asset write-off of $220 million. Foreign currency effects decreased earnings in the 2017 third quarter by $112 million, compared with an increase of $72 million a year earlier. Sales and other operating revenues in third quarter 2017 were $34 billion, compared to $29 billion in the year-ago period.

 

CHEVRON'S INVESTMENT $4 BLN
2017, September, 25, 13:05:00

CHEVRON'S INVESTMENT $4 BLN

Oil major Chevron Corp will next year invest around $4 billion to ramp up its crude production in the Permian Basin area of the United States, a company executive said on Monday.

 CHEVRON EARNINGS $1.45 BLN
2017, July, 31, 14:10:00

CHEVRON EARNINGS $1.45 BLN

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.

 

 

Tags: CHEVRON
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OIL PRICE: ABOVE $66

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BRENT OIL: UNDERVALUED

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BENEFIT FOR RUSSIA

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LATIN AMERICA ENERGY FORUM FEBRUARY 2019

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CHEVRON NET INCOME $3.638 BLN
2019, February, 18, 12:00:00

БЫСТРАЯ СИЛА СИБИРИ

ГАЗПРОМ - Как отметил по итогам переговоров Алексей Миллер, «строительство газопровода „Сила Сибири“ идет с опережением графика, „Газпром“ начнет поставки газа в Китай раньше намеченного срока — уже с 1 декабря 2019 года».

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CHEVRON NET INCOME $3.638 BLN
2019, February, 18, 11:50:00

U.S. SHALE NEED INVESTMENT

REUTERS - On Thursday, the regional price of crude was at a $1.10 a barrel premium to U.S. crude futures, the strongest in more than a year as companies including Parsley Energy, Pioneer Natural Resources, Goodrich Petroleum Corp have pared their exploration budgets, easing the constraints.

CHEVRON NET INCOME $3.638 BLN
2019, February, 18, 11:45:00

U.S. INDUSTRIAL PRODUCTION DOWN 0.6%

U.S. FRB - Industrial production decreased 0.6 percent in January after rising 0.1 percent in December.

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