AP News

News Summary: Chevron profit hurt by lower prices


SLIPPING: Chevron Corp., the nation's second-largest oil company, reported third-quarter net income of $5.25 billion, or $2.69 per share. Revenue totaled $55.66 billion.

CRUDE AWAKENING: The sluggish global economy has cut into worldwide demand for energy products and concerns about growth have caused oil and natural gas prices to fall. Chevron also faced a series of issues that affected production, including Hurricane Isaac in the Gulf of Mexico, a California refinery fire and maintenance on facilities.

PRODUCTION PUSH: Chevron expects production to increase in the fourth quarter from the third quarter.


Burger King's Young Buns
LIMITED-TIME OFFER SUBSCRIBE NOW

(enter your email)
(enter up to 5 email addresses, separated by commas)

Max 250 characters

 
blog comments powered by Disqus