Chevron Corporation (NYSE: CVX) today reported earnings of $5.4 billion ($2.77 per share – diluted) for the second quarter 2013, compared with $7.2 billion ($3.66 per share – diluted) in the 2012 second quarter. Sales and other operating revenues in the second quarter 2013 were $55 billion, compared to $60 billion in the year ago period.
"Our second quarter earnings were down from the very strong level of a year ago,” said Chairman and CEO John Watson. “The decrease was largely due to softer market conditions for crude oil and refined products. Earnings were also reduced as a result of repair and maintenance activities in our U.S. refineries.”
“We continue to advance our major capital projects. An important milestone was achieved in the second quarter with the loading of the first cargo of liquefied natural gas at the Angola LNG project, one of the largest energy projects on the African continent.” Watson continued,“ This marks an important step in the development of our LNG business. Additional LNG growth is expected in the coming years from our Gorgon and Wheatstone projects in Australia.
Read the entire Chevron earnings report
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Showing posts with label John Watson. Show all posts
Showing posts with label John Watson. Show all posts
Friday, August 2, 2013
Tuesday, March 12, 2013
Chevron CEO on CNBC.... Keep Cash Reserves If Oil Prices Fall
Chevron CEO John Watson discusses where the biggest production growth is occurring globally and what his company plans to do with its $22 billion in cash.
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Chevron,
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Friday, July 27, 2012
Chevron Reports Second Quarter Net Income of $7.2 Billion
SP500, Russell 2K, Dollar Index and Gold’s – Fake out or Shakeout?
Chevron Corporation (NYSE: CVX) today reported earnings of $7.2 billion ($3.66 per share – diluted) for the second quarter 2012, compared with $7.7 billion ($3.85 per share – diluted) in the 2011 second quarter.
“Our second quarter earnings and cash flow were among our strongest ever, even with softer oil markets,” said Chairman and CEO John Watson. “Despite current weakness in the global economy, we continue to invest in our long term growth projects to help deliver affordable energy to meet future demand. We took several important steps to advance our major upstream capital projects, in particular achieving milestones in our natural gas development projects in the Asia-Pacific region. We also expanded our global exploration resource acreage, including new leases in the Gulf of Mexico where we already hold a significant position.”
Read the entire earnings report
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Chevron Corporation (NYSE: CVX) today reported earnings of $7.2 billion ($3.66 per share – diluted) for the second quarter 2012, compared with $7.7 billion ($3.85 per share – diluted) in the 2011 second quarter.
“Our second quarter earnings and cash flow were among our strongest ever, even with softer oil markets,” said Chairman and CEO John Watson. “Despite current weakness in the global economy, we continue to invest in our long term growth projects to help deliver affordable energy to meet future demand. We took several important steps to advance our major upstream capital projects, in particular achieving milestones in our natural gas development projects in the Asia-Pacific region. We also expanded our global exploration resource acreage, including new leases in the Gulf of Mexico where we already hold a significant position.”
Read the entire earnings report
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Tuesday, March 9, 2010
Inside Chevron's Strategy
An update on the energy company's growth strategy, with John Watson, Chevron chairman/CEO.
Labels:
Chevron,
CNBC,
Crude Oil,
energy,
John Watson
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