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Chevron posts record profit

SF Gate -- Chevron said Friday that its fourth-quarter profit increased 41 percent to a record $7.25 billion ($3.70 per share) as it reported stronger refining results and a gain from an Australian natural gas field swap.

That was up from $5.12 billion ($2.58) a year earlier, the San Ramon company said. Analysts had predicted a profit of $3.06 per share. Sales fell 3 percent to $56.3 billion.

Chevron shares rose just over 1 percent to $116.50 Friday.

Chevron's refining segment returned to profit from a loss a year earlier as rising supplies from U.S. shale formations lowered crude input costs and processing margins climbed 46 percent. Chevron also benefited as crude prices rose in international energy markets. About 75 percent of the company's crude is pumped from non-U.S. wells.



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Submitted Feb 02, 2013 By: aservant
Category: Daily News Article Discussions > Topics Add to favorite topics  
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REPLIES (newest first) Post a Reply
WalkingWV
Champion Author West Virginia

Posts:3,883
Points:809,450
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Message Posted: Feb 3, 2013 1:51:06 PM

Gouging and scheming pays big!
DanMtz
Champion Author Oakland

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Joined:Oct 2009
Message Posted: Feb 3, 2013 10:42:23 AM

Great, now fix the refinery.
underbird10
Veteran Author Atlanta

Posts:261
Points:34,475
Joined:Jan 2009
Message Posted: Feb 2, 2013 4:18:51 PM

Billions and billions in profit every quarter and all we hear about is how hard it is to make a profit in the oil business. Meanwhile average, everyday people are starving or are simply scraping by by the skin of their teeth and seeing their taxes shoot up to pay for the rest of the poor. I wonder how much of this profit will be going to pay for Obamacare and to fund the Social Security shortfall.

Answer is: approximately none.
1OILMAN
Champion Author Alabama

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Message Posted: Feb 2, 2013 4:09:28 PM

Love those dividends and the increase in stock price!! Keep it going!!
CPGas1815
Champion Author Michigan

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Message Posted: Feb 2, 2013 1:52:30 PM

I am not at all surprised Chevron made a record profit. After all the oil industry has been gouging us at the pump for many years.
Ply440GTX
Champion Author Kansas

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Message Posted: Feb 2, 2013 1:19:38 PM

More to come this year...
merlinCO
Champion Author Colorado

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Message Posted: Feb 2, 2013 12:09:54 PM

Imagine that!
bar1035
Champion Author Charlotte

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Message Posted: Feb 2, 2013 11:24:14 AM

When does Apple report it's earnings?
Grizdad
Champion Author Montana

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Message Posted: Feb 2, 2013 9:57:07 AM

Fat cats got some huge bonuses...
geezrtek
Champion Author Michigan

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Message Posted: Feb 2, 2013 9:46:13 AM

Buy stock in Chevron.
scu227
Champion Author New Haven

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Message Posted: Feb 2, 2013 9:24:08 AM

And they continue to raise prices !!!! WHY ???????
humblepie
Champion Author Toledo

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Message Posted: Feb 2, 2013 9:16:11 AM

more job security
doeslayersr
Champion Author Illinois

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Message Posted: Feb 2, 2013 9:08:09 AM

Good. An American company which employs American people in American jobs.
peabeax55
All-Star Author Atlanta

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Message Posted: Feb 2, 2013 8:04:46 AM

They are taking advantage of the general public. Wrong in every way.
gd83goldwinger
Champion Author South Bend

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Message Posted: Feb 2, 2013 6:50:53 AM

And this is not a sign of gouging the consumer.
millerin
Champion Author Orlando

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Message Posted: Feb 2, 2013 6:50:27 AM

good time for oil companies.
csnvcas
All-Star Author Illinois

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Message Posted: Feb 2, 2013 6:38:07 AM

Interesting
Lengas
Champion Author Gary

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Message Posted: Feb 2, 2013 6:38:03 AM

SOP
regout
Champion Author Quebec

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Message Posted: Feb 2, 2013 6:37:51 AM

No surprise but since our government don't do anything against speculators, oil will increase and their pockets will be full of our money.
bladecutter
Champion Author Houston

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Message Posted: Feb 2, 2013 6:34:25 AM

Good for them.
hyeglenn
Champion Author Fresno

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Message Posted: Feb 2, 2013 6:34:18 AM

Good for Chevron, at least someone is making some money.
forderjunk
Champion Author Maine

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Message Posted: Feb 2, 2013 6:33:25 AM

wasnt that a surprise
wkb03
Champion Author Georgia

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Message Posted: Feb 2, 2013 6:33:08 AM

Not surprining with past & current fuel cost.
Ringmaster2008
Champion Author Ontario

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Message Posted: Feb 2, 2013 6:30:26 AM

Should come as no surprise based on pump prices
mrreferee
Champion Author Savannah

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Message Posted: Feb 2, 2013 6:30:23 AM

whew! that's a load on my back! I was afraid they were going broke....
dar 1
Champion Author Michigan

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Message Posted: Feb 2, 2013 6:30:09 AM

And with higher gas they will do even better....
turbodog
Champion Author Mississippi

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Message Posted: Feb 2, 2013 6:29:39 AM

Good story along with current price gouge
walkerms1
All-Star Author Albany

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Joined:Sep 2012
Message Posted: Feb 2, 2013 6:29:12 AM

I miss standard oil.
swede
Champion Author Cleveland

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Message Posted: Feb 2, 2013 6:27:18 AM

good for them their stock holders will like that
wheelman82
Champion Author Maryland

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Message Posted: Feb 2, 2013 6:25:31 AM

Shocking....not.
GasPriceHelp4u
Champion Author Dayton

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Message Posted: Feb 2, 2013 6:25:20 AM

Not surprised!!! They are sucking us dry!!!
naspa
Champion Author Cleveland

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Message Posted: Feb 2, 2013 6:24:36 AM

These ridiculously high fuel prices have to have a result somewhere. No matter if the is on the behalf of the little people.
DblChek
Champion Author San Antonio

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Message Posted: Feb 2, 2013 6:24:16 AM

“…reported stronger refining results and a gain from an Australian natural gas field swap.”

“About 75 percent of the company's crude is pumped from non-U.S. wells.


”Makes ya wonder...

[Edited by: DblChek at 2/2/2013 6:25:14 AM EST]
scottydoesnt
Champion Author Chicago

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Message Posted: Feb 2, 2013 6:23:26 AM

Really ? I can't imagine why.
Ratso
Champion Author Ohio

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Message Posted: Feb 2, 2013 6:22:21 AM

As if we couldn't suspect !..ech, greed!
bsmerl
Champion Author Florida

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Message Posted: Feb 2, 2013 6:21:02 AM

these companies get fined up the #(%&(#@ to the tune of millions and billions in the case of bp. They just tack fines on to the price of oil and continue with record profits.

I pray for the day that our politicians get smart and start regulating this monopolistic industry.
madison8359
Champion Author Cleveland

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Message Posted: Feb 2, 2013 6:20:28 AM

They really need tax supports and high retail.

More than a billion a month not bad.
jppezz
Champion Author New Mexico

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Message Posted: Feb 2, 2013 6:18:30 AM

Gee what a surprise an oil company making record profits.
AvantiMick
Champion Author Indiana

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Message Posted: Feb 2, 2013 6:18:17 AM

Imagine that!!!
gstoney
All-Star Author Ontario

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Message Posted: Feb 2, 2013 6:17:05 AM

Should anyone be surprised at this?
bsmerl
Champion Author Florida

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Message Posted: Feb 2, 2013 6:15:38 AM

Did anybody doubt they would have record profits?

Up up and away!!!
sappie
Champion Author Massachusetts

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Message Posted: Feb 2, 2013 6:15:29 AM

no surprise.
bassakwards007
Champion Author Orange County

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Message Posted: Feb 2, 2013 6:15:13 AM

Yes, so the fine they paid (Millions) for the San Francisco refinery fire did not hurt them a bit..make um bleed for cripes sakes!
raccoon2011
Champion Author Massachusetts

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Message Posted: Feb 2, 2013 6:13:42 AM

par for the oil company
alphanyr
Champion Author Connecticut

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Message Posted: Feb 2, 2013 6:10:56 AM

Lower prices
RUNNINONEMPTYFL
Champion Author Florida

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Joined:May 2011
Message Posted: Feb 2, 2013 6:10:05 AM

The way they just increased the prices, now wonder there were record profits!!!
isem
Champion Author Missouri

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Joined:Feb 2012
Message Posted: Feb 2, 2013 6:07:56 AM

Everybody hates a company when they make a profit but they also hate them when they lose money, go broke and close for business because that causes unemployment to rise and deprives “me” of products.
VB_Richard
Champion Author Virginia Beach

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Message Posted: Feb 2, 2013 6:07:54 AM

Where does it all go???
kobes1
Champion Author Florida

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Message Posted: Feb 2, 2013 6:07:04 AM

Greed
pastorpaulcg
Champion Author Virginia

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Message Posted: Feb 2, 2013 6:00:41 AM

Good for them, at least someone is making money
sydb7
Champion Author Atlanta

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Joined:Mar 2003
Message Posted: Feb 2, 2013 6:00:28 AM

We have ourselves to thank for this record! This insanity must stop - before it bankrupts us!!!
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