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 Today


The Maritime Industry's original and most viewed E-News Service

Maritime Reporter April 2016 Digital Edition
FREE Maritime Reporter Subscription
Latest Maritime News    rss feeds

People & Company News

China COSCO to be First through the Expanded Panama Canal

China COSCO Shipping has won the draw for its container vessel Andronikos to make the ceremonial first transit through the Expanded Panama Canal during the waterway’s inauguration on Sunday, June 26.

Sellick Equipment to Open New Facility

On April, 20, 2016, at the young age of 97 years, Walter Sellick along with sons Howard Sellick - President, David Sellick - Vice President and grandson Colin Sellick - Systems Manager,

Asia Tankers-VLCCs Rates Ease as Tanker Jams Fade

Port congestion eases at Basra and Chinese ports; tanker demand set to expand on lower oil prices. Freight rates for very large crude carriers (VLCCs), hurt by slower-than-usual release of cargo,

 
 
Maritime Careers / Shipboard Positions Maritime Contracts Offshore Oil Pod Propulsion Port Authority Salvage Ship Electronics Ship Simulators Shipbuilding / Vessel Construction Sonar
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: 0.0674 sec (15 req/sec)