Chevron Announces Strong 3Q Results

Tuesday, October 24, 2000
Chevron Corp. said third-quarter profit surpassed expectations, with earnings more than doubling on the back of surging oil and natural gas prices. The oil company, which earlier this month unveiled a takeover bid for rival Texaco Inc., said third-quarter earnings excluding special items rose to $1.65 billion, or $2.53 a diluted share. In the corresponding period a year ago, it earned $702 million, or $1.07 per diluted share. Revenues rose to $13.6 billion from $10.2 billion in a quarter in which the company posted sharply higher results than analysts had expected. On average analysts had forecast earnings of $1.99 a share for the company, according to First Call/Thomson Financial, which tracks estimates. For the moment, like other energy companies, Chevron is getting a lift from red-hot commodity prices, with crude oil hitting a 10-year high during the quarter. Indeed, crude oil prices averaged in the third-quarter averaged $31.63 a barrel, about $10 a barrel higher than the same period a year ago. U.S. natural gas prices were just as red hot, averaging $4.48 per million British thermal units compared to $2.55 a year ago.
Maritime Reporter August 2013 Digital Edition
FREE Maritime Reporter Subscription
Latest Maritime News    rss feeds

Offshore

MNZ Opens New Office in Port Taranaki

Maritime New Zealand (MNZ) informs that for the first time in 5 years it has a permanent presence in New Plymouth on the opening of a new office at Port Taranaki

Fugro Achieves Innovation through Integration

When Aberdeen-based Diamond Offshore wanted to add new functionality to the existing helideck monitoring system on the Ocean Guardian drilling rig in the North Sea,

BMT ARGOSS Awarded OHSAS 18001

BMT ARGOSS, an operating company of BMT Group Ltd. has been awarded the universally recognized standard for occupational health and safety, BS OHSAS 18001. BMT ARGOSS,

 
 
Maritime Careers / Shipboard Positions Maritime Contracts Maritime Security Maritime Standards Navigation Offshore Oil Pipelines Ship Electronics Ship Repair Winch
rss | archive | history | articles | privacy | terms and conditions | contributors | top maritime news | about us | copyright | maritime magazines
maritime security news | shipbuilding news | maritime industry | shipping news | maritime reporting | workboats news | ship design | maritime business

Time taken: 0.1904 sec (5 req/sec)