Chevron Quarter Profit Up to $4.14B

Monday, January 30, 2006
Chevron Corp.’s fourth-quarter profit rose to $4.14 billion from $3.44 billion as oil and fuel prices jumped. Per-share profit climbed to $1.86 from $1.63 a year earlier, according to Bloomberg.

Shares of Chevron yesterday fell $1.04 to $60.22 in New York Stock Exchange composite trading. The stock, which has climbed 6 percent this month, has 16 buy ratings, eight hold recommendations and one sell rating from analysts.

U.S. crude-oil futures traded at a record fourth-quarter average of $60.05 a barrel, up 24 percent from a year earlier, as damage from Hurricanes Katrina and Rita crimped production in the Gulf of Mexico, the biggest domestic source of oil and natural gas. Growing demand, fed by economic expansion in North America, China and India, has pushed oil producers and refiners close to capacity.

Oil futures surged 40 percent in 2005, the fourth straight yearly gain and the longest streak of increases since the contracts began trading in New York in 1983. Chevron gets about 85 percent of its profit from oil and gas sales. The rest comes from gasoline, diesel, jet fuel, chemicals, pipelines and coal.

(Source: Bloomberg)

Maritime Reporter October 2015 Digital Edition
FREE Maritime Reporter Subscription
Latest Maritime News    rss feeds

People & Company News

Wilh. Wilhelmsen, Callenberg Win SHIPPINGInsight Award

Wilh. Wilhelmsen ASA and Callenberg Technology Group were presented the 2015 SHIPPINGInsight Award was today at the SHIPPINGInsight 2015 Fleet Optimization Conference & Exhibition in Stamford, Conn.

Market Growth to Bring More Carnival Ships to China

Eying a rapidly growing cruise market, Carnival Corporation announces plans to sail more ships from China The Chinese cruise market, expected to become the world’s

Insights: Matthew Paxton, SCA President

Matthew Paxton is President of the Shipbuilders Council of America (SCA), and a partner at the law firm of Adams and Reese. SCA is the national trade association

Maritime Careers / Shipboard Positions Maritime Security Maritime Standards Navigation Pod Propulsion Port Authority Ship Electronics Ship Repair Sonar Winch
rss | archive | history | articles | privacy | 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: 0.1338 sec (7 req/sec)