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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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».
U.S. EIA - In December 2018, U.S. shale and tight plays produced about 65 billion cubic feet per day (Bcf/d) of natural gas (70% of total U.S. dry gas production) and about 7 million barrels per day (b/d) of crude oil (60% of total U.S. oil production). A decade ago, in December 2008, shale gas and tight oil accounted for 16% of total U.S. gas production and about 12% of U.S. total crude oil production.
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.
U.S. FRB - Industrial production decreased 0.6 percent in January after rising 0.1 percent in December.