Daily Management Review

Chevron lowers net profit to $ 2.6 billion in Q1


04/26/2019


American oil and gas giant Chevron made a profit of $ 2.642 billion in the first quarter of 2019, which is 27.8% less than in the same period of 2018, the company said.



The profit attributable to the parent company decreased by 27.2% compared with January-March last year, amounting to $ 2.649 billion. Earnings per share amounted to $ 1.39 against $ 1.9 for the same period of 2018.

The company's total revenue declined by 6.8%, to $ 35.2 billion.

At the same time, Chevron increased oil production by 6.5%, to 3.038 million barrels of oil equivalent per day, in the first quarter. The average selling price of a barrel of oil equivalent in the first quarter of 2019 was $ 48 versus $ 56 in January-March 2018, and in international markets it was $ 58 versus $ 61 in the same quarter last year.

In the exploration and production segment, the company made a profit of $ 3,123 billion, which is 6.8% less than a year ago. In the field of processing and sales profit was $ 252 million (a decrease of three times).

"Profit for the first quarter fell mainly due to lower crude oil prices and a weaker margin in the refining and chemicals sectors," said Michael Wirth, Head of Chevron.

Chevron is the second largest US oil and gas company. The corporation operates in more than 180 countries.

source: reuters.com
  






Science & Technology

Tech giants face stricter government regulation in the US

Nestle's Head: Veggie meat is new megatrend

Huawei may introduce Android replacement in August

Are US high-tech investors causing brain drain in Europe?

'Russia's Google' Yandex Was Hacked By Western Intelligence For Spying: Reuters

Reuters: Chinese hackers were stealing data from IT giants for years

China's first solar power molten salt plant sets record

WSJ announces imminent start of Boeing 737 MAX flight tests

Study: Machine learning is five times more harmful for the environment than a car

Would Singapore Be The First One To Bring Lab Grown Shrimps To The Global Market?

World Politics

World & Politics

France announces new tax for air fares

Europe Concerned Over Iran Move To Breach Uranium Enrichment Cap

Singapore To Build ‘$296 Million’ Smart Next-Gen Army Training Centre

No More Sales Of E-Cigarettes In San Francisco?

US ‘Hell-Bent On Hostile Acts’ Even After Trump-Kim Agreement, Says North Korea

Italy avoids EU sanctions for high national debt

Trump allocates 4.6 bln to help migrants

Iran Says Trump’s Belief That US-Iran War Would Be Short Is “An Illusion”