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)


People & Company News

STX to Slash Jobs, Sell Yard

To stat above water by restructuring, South Korean Shipbuilder STX Offshore & Shipbuilding Co. plans to lay off about a third of its workforce and sell a yard in France, says a report in WSJ.

Kongsberg Performs Well in Q2

Norwegian defence and marine technology company Kongsberg Gruppen's second quarter 2016 (Q2) financial results shows sales performance broadly in line with recent trends,

Rickmers Holding, E.R. Capital Drop Merger Plan

Rickmers Holding AG and E.R. Capital Holding have jointly decided not to pursue the merger of their ship management activities.   For many years the companies

 
 
Maritime Security Maritime Standards Navigation Pod Propulsion Port Authority Ship Electronics Ship Repair Ship Simulators 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: 0.0689 sec (15 req/sec)