The company's average price of natural gas was $2.32 per thousand cubic feet, nearly double the price it realized a year ago. Upstream operations, which include exploration and drilling, meanwhile, in the U.S., slimmed its loss to $102 million from a $1.11 billion loss the year before. Chevron Corp. swung to a profit in the second quarter as it benefited from higher crude oil and natural gas prices and efforts to cut costs throughout its operations. Chevron's average sales price per barrel of crude oil and natural gas liquids was $41, up from $36 in the year-ago period. In all for the June quarter, Chevron reported a profit of $1.45 billion, or 77 cents a share, compared with a loss of $1.47 billion, or 78 cents a share, a year ago.
As it stated in
(Reuters) - Chevron Corp (CVX.N) swung to a quarterly profit on Friday, helped largely by resurgence in oil and gas production as prices jumped and costs slipped. Rival Exxon Mobil Corp (XOM.N) reported a lower-than-expected quarterly profit earlier on Friday. FILE PHOTO: The logo of Chevron Corp is seen in its booth at Gastech, the world's biggest expo for the gas industry, in Chiba, Japan April 4, 2017. With oil prices inching higher, that also boosted the company's profit. Projects that Chevron had been building for years have started to come online and allowed Chevron to progress from spending on construction to marketing and sales.
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As it stated in
(Reuters) - Chevron Corp (CVX.N) swung to a quarterly profit on Friday, helped largely by resurgence in oil and gas production as prices jumped and costs slipped. Rival Exxon Mobil Corp (XOM.N) reported a lower-than-expected quarterly profit earlier on Friday. FILE PHOTO: The logo of Chevron Corp is seen in its booth at Gastech, the world's biggest expo for the gas industry, in Chiba, Japan April 4, 2017. With oil prices inching higher, that also boosted the company's profit. Projects that Chevron had been building for years have started to come online and allowed Chevron to progress from spending on construction to marketing and sales.
read more visit us profit
collected by :Jack Luxor
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