Chevron Corp raised its buy estimates for the same stock after it reported its biggest quarterly profit in its history, driven by strong fuel margins and high prices for natural gas and oil. The oil company reported second-quarter net income of $11.6 billion, or $5.95 per share, up from $3.1 billion, or $1.6 per share, […]
Tag: Chevron
Major oil companies are heading for record profits of $50 billion in the quarter
Oil majors are poised to post a record combined profit of $50 billion in the second quarter, although the industry’s stellar performance may be setting the stage for its own decline. As Bloomberg comments, the rise in “Big Oil” profits is a direct result of high energy prices that are fueling rampant inflation, piling pressure […]
Cyprus: New drilling within the next months by Chevron
The Minister of Energy, Trade and Industry of Cyprus Natasa Pileidou had a meeting with a delegation of the Chevron consortium, led by the president of Chevron for Research and Production in the Middle East, Africa and South America, Clay Neff, today at the Ministry of Energy, in Nicosia. At the meeting, all matters related […]
Chevron’s first-quarter earnings quadrupled
Chevron Corp.’s quarterly earnings nearly quadrupled from a year earlier, beating analysts’ estimates as oil and gas prices rose after the Russian-led invasion of Ukraine. The second largest US oil company announced adjusted earnings of 6.5 billion dollars or 3.36 dollars per share, 8 cents higher than the average estimate for 3.28 dollars. Chevron earned […]
Chevron: Announces increase in own stock program
Chevron announced an increase in its share price program and forecast operating flows until 2026, benefiting from cost reductions and the recent rise in energy prices. The second largest oil company in the US is now going to buy 5-10 billion dollars of shares of each country, compared to the previous target of 3-5 billion […]
Cyprus: Meetings of representatives of the Ministry of Energy with representatives of Shell, Chevron and Total in Cairo
The 17th Session of the Executive Board of the East Mediterranean Gas Forum (EMGF) was chaired today by the Director General of the Ministry of Energy, Trade and Industry of Cyprus (YEEB) Marios Panagidis. The meeting took place in Cairo and is the first since Cyprus took over the presidency of the EMGF on 1 […]
Chevron quarterly earnings below expectations
Chevron Corp. reported fourth-quarter earnings below analysts’ estimates on Friday, amid rising oil and gas prices. In particular, the company, the first of the oil giants to announce quarterly figures, showed adjusted earnings of $ 5.1 billion or $ 2.65 per share, with profits from oil extraction fivefold compared to last year that “hit” The […]