November 3, 2008
Chevron Doubles Third-Quarter Earnings While Producing Less, an Industrial Info News Alert
Researched by Industrial Info Resources (Sugar Land, Texas) -- On October 31, Chevron Corporation (NYSE:CVX) (San Ramon, California) announced earnings for third quarter 2008. As is becoming a standard story for petroleum-production companies, 3Q08 brought significantly higher earnings compared to last year. Chevron reported a net income of $7.89 billion for the quarter, more than doubling 3Q07's net income of $3.72 billion. Oil-equivalent production was actually down from last year by 150,000 barrels per day. Higher prices of oil and natural gas helped bring strong income and offset the estimated $400 million of expenses caused by Hurricanes Gustav and Ike. Industrial Info is currently monitoring more than $19.5 billion of Chevron's projects scheduled to kick off between now and the end of 2009 in the U.S., Canada, and Australia.
For details, view the entire article by subscribing to Industrial Info's Premium Industry News at http://www.industrialinfo.com/showNews.jsp?newsitemID=140712, or browse other breaking industrial news stories at www.industrialinfo.com.
Industrial Info Resources (IIR) is a marketing information service specializing in industrial process, energy and financial related markets with products and services ranging from industry news, analytics, forecasting, plant and project databases, as well as multimedia services. For more information send inquiries to [email protected] or visit our website at www.industrialinfo.com.
Related News Articles
Tesoro's Profit Jumps Fivefold to $259 Million as Lower Crude Oil Prices Boost Refining Margins
Valero Delays Projects for Major Maintenance Turnarounds and Reduces Capital Spending by Nearly $2 Billion Through 2009
Sinopec to Make $2 Billion North American Oil-Company Purchase
Contact: Joe Govreau 713-783-5147
SOURCE: Industrial Info Resources