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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

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WalkingWV Champion Author West Virginia Posts:3,701 Points:778,845 Joined:May 2008	Message Posted: Feb 3, 2013 1:51:06 PM Ignore WalkingWV Report Abuse Gouging and scheming pays big!
DanMtz Champion Author Oakland Posts:3,345 Points:1,241,375 Joined:Oct 2009	Message Posted: Feb 3, 2013 10:42:23 AM Ignore DanMtz Report Abuse Great, now fix the refinery.
underbird10 Sophomore Author Atlanta Posts:166 Points:21,075 Joined:Jan 2009	Message Posted: Feb 2, 2013 4:18:51 PM Ignore underbird10 Report Abuse 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 Posts:2,071 Points:157,275 Joined:Mar 2011	Message Posted: Feb 2, 2013 4:09:28 PM Ignore 1OILMAN Report Abuse Love those dividends and the increase in stock price!! Keep it going!!
CPGas1815 Champion Author Michigan Posts:6,027 Points:1,099,605 Joined:Apr 2008	Message Posted: Feb 2, 2013 1:52:30 PM Ignore CPGas1815 Report Abuse 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 All-Star Author Texas Posts:949 Points:309,730 Joined:Feb 2009	Message Posted: Feb 2, 2013 1:19:38 PM Ignore Ply440GTX Report Abuse More to come this year...
merlinCO Champion Author Colorado Posts:1,635 Points:340,420 Joined:Mar 2012	Message Posted: Feb 2, 2013 12:09:54 PM Ignore merlinCO Report Abuse Imagine that!
bar1035 Champion Author Charlotte Posts:9,150 Points:1,297,245 Joined:Aug 2006	Message Posted: Feb 2, 2013 11:24:14 AM Ignore bar1035 Report Abuse When does Apple report it's earnings?
Grizdad Champion Author San Bernardino Posts:5,525 Points:782,450 Joined:Oct 2010	Message Posted: Feb 2, 2013 9:57:07 AM Ignore Grizdad Report Abuse Fat cats got some huge bonuses...
geezrtek Champion Author Michigan Posts:1,902 Points:430,760 Joined:Apr 2011	Message Posted: Feb 2, 2013 9:46:13 AM Ignore geezrtek Report Abuse Buy stock in Chevron.
scu227 Champion Author New Haven Posts:4,147 Points:770,905 Joined:Feb 2011	Message Posted: Feb 2, 2013 9:24:08 AM Ignore scu227 Report Abuse And they continue to raise prices !!!! WHY ???????
humblepie Champion Author Toledo Posts:34,173 Points:2,370,395 Joined:Mar 2006	Message Posted: Feb 2, 2013 9:16:11 AM Ignore humblepie Report Abuse more job security
doeslayersr Champion Author Illinois Posts:9,111 Points:871,030 Joined:Dec 2010	Message Posted: Feb 2, 2013 9:08:09 AM Ignore doeslayersr Report Abuse Good. An American company which employs American people in American jobs.
peabeax55 All-Star Author Atlanta Posts:713 Points:185,515 Joined:Mar 2012	Message Posted: Feb 2, 2013 8:04:46 AM Ignore peabeax55 Report Abuse They are taking advantage of the general public. Wrong in every way.
gd83goldwinger Champion Author South Bend Posts:1,428 Points:503,480 Joined:May 2011	Message Posted: Feb 2, 2013 6:50:53 AM Ignore gd83goldwinger Report Abuse And this is not a sign of gouging the consumer.
millerin Champion Author Orlando Posts:2,305 Points:480,390 Joined:Jan 2012	Message Posted: Feb 2, 2013 6:50:27 AM Ignore millerin Report Abuse good time for oil companies.
csnvcas All-Star Author Illinois Posts:697 Points:166,940 Joined:Nov 2012	Message Posted: Feb 2, 2013 6:38:07 AM Ignore csnvcas Report Abuse Interesting
Lengas Champion Author Gary Posts:13,545 Points:2,716,800 Joined:Nov 2004	Message Posted: Feb 2, 2013 6:38:03 AM Ignore Lengas Report Abuse SOP
regout Champion Author Quebec Posts:2,950 Points:831,730 Joined:May 2010	Message Posted: Feb 2, 2013 6:37:51 AM Ignore regout Report Abuse 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 Posts:4,851 Points:983,100 Joined:Nov 2009	Message Posted: Feb 2, 2013 6:34:25 AM Ignore bladecutter Report Abuse Good for them.
hyeglenn Champion Author Fresno Posts:1,070 Points:598,930 Joined:Apr 2011	Message Posted: Feb 2, 2013 6:34:18 AM Ignore hyeglenn Report Abuse Good for Chevron, at least someone is making some money.
forderjunk Champion Author Maine Posts:10,643 Points:2,172,960 Joined:Sep 2005	Message Posted: Feb 2, 2013 6:33:25 AM Ignore forderjunk Report Abuse wasnt that a surprise
wkb03 Champion Author Georgia Posts:1,955 Points:592,075 Joined:Aug 2011	Message Posted: Feb 2, 2013 6:33:08 AM Ignore wkb03 Report Abuse Not surprining with past & current fuel cost.
Ringmaster2008 Champion Author Ontario Posts:7,573 Points:1,163,560 Joined:Apr 2008	Message Posted: Feb 2, 2013 6:30:26 AM Ignore Ringmaster2008 Report Abuse Should come as no surprise based on pump prices
mrreferee Champion Author Savannah Posts:1,336 Points:556,030 Joined:Jun 2011	Message Posted: Feb 2, 2013 6:30:23 AM Ignore mrreferee Report Abuse whew! that's a load on my back! I was afraid they were going broke....
dar 1 Champion Author Michigan Posts:5,888 Points:445,940 Joined:Jan 2005	Message Posted: Feb 2, 2013 6:30:09 AM Ignore dar 1 Report Abuse And with higher gas they will do even better....
turbodog Champion Author Mississippi Posts:6,751 Points:1,361,465 Joined:Feb 2009	Message Posted: Feb 2, 2013 6:29:39 AM Ignore turbodog Report Abuse Good story along with current price gouge
walkerms1 All-Star Author Albany Posts:960 Points:159,900 Joined:Sep 2012	Message Posted: Feb 2, 2013 6:29:12 AM Ignore walkerms1 Report Abuse I miss standard oil.
swede Champion Author Cleveland Posts:3,762 Points:1,675,025 Joined:Feb 2003	Message Posted: Feb 2, 2013 6:27:18 AM Ignore swede Report Abuse good for them their stock holders will like that
wheelman82 Champion Author Maryland Posts:35,981 Points:2,190,165 Joined:Apr 2007	Message Posted: Feb 2, 2013 6:25:31 AM Ignore wheelman82 Report Abuse Shocking....not.
GasPriceHelp4u Champion Author Dayton Posts:2,682 Points:567,825 Joined:Jul 2008	Message Posted: Feb 2, 2013 6:25:20 AM Ignore GasPriceHelp4u Report Abuse Not surprised!!! They are sucking us dry!!!
naspa Champion Author Cleveland Posts:1,266 Points:351,175 Joined:Jan 2012	Message Posted: Feb 2, 2013 6:24:36 AM Ignore naspa Report Abuse 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 Posts:2,345 Points:615,245 Joined:Jul 2008	Message Posted: Feb 2, 2013 6:24:16 AM Ignore DblChek Report Abuse “…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 Posts:3,777 Points:528,495 Joined:Apr 2011	Message Posted: Feb 2, 2013 6:23:26 AM Ignore scottydoesnt Report Abuse Really ? I can't imagine why.
Ratso Champion Author Ohio Posts:18,784 Points:2,683,620 Joined:Sep 2003	Message Posted: Feb 2, 2013 6:22:21 AM Ignore Ratso Report Abuse As if we couldn't suspect !..ech, greed!
bsmerl Champion Author Florida Posts:1,088 Points:380,635 Joined:Nov 2004	Message Posted: Feb 2, 2013 6:21:02 AM Ignore bsmerl Report Abuse 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 Posts:9,012 Points:1,592,320 Joined:Apr 2008	Message Posted: Feb 2, 2013 6:20:28 AM Ignore madison8359 Report Abuse They really need tax supports and high retail. More than a billion a month not bad.
jppezz Champion Author New Mexico Posts:8,586 Points:1,691,585 Joined:Jun 2008	Message Posted: Feb 2, 2013 6:18:30 AM Ignore jppezz Report Abuse Gee what a surprise an oil company making record profits.
AvantiMick Champion Author Indiana Posts:12,737 Points:2,541,570 Joined:Dec 2005	Message Posted: Feb 2, 2013 6:18:17 AM Ignore AvantiMick Report Abuse Imagine that!!!
gstoney Veteran Author Ontario Posts:476 Points:279,915 Joined:Jun 2008	Message Posted: Feb 2, 2013 6:17:05 AM Ignore gstoney Report Abuse Should anyone be surprised at this?
bsmerl Champion Author Florida Posts:1,088 Points:380,635 Joined:Nov 2004	Message Posted: Feb 2, 2013 6:15:38 AM Ignore bsmerl Report Abuse Did anybody doubt they would have record profits? Up up and away!!!
sappie Champion Author Massachusetts Posts:3,496 Points:584,870 Joined:Jul 2010	Message Posted: Feb 2, 2013 6:15:29 AM Ignore sappie Report Abuse no surprise.
bassakwards007 Champion Author Orange County Posts:1,127 Points:243,245 Joined:Aug 2012	Message Posted: Feb 2, 2013 6:15:13 AM Ignore bassakwards007 Report Abuse 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 Posts:1,389 Points:351,050 Joined:Aug 2011	Message Posted: Feb 2, 2013 6:13:42 AM Ignore raccoon2011 Report Abuse par for the oil company
alphanyr Champion Author Connecticut Posts:4,820 Points:674,775 Joined:Apr 2011	Message Posted: Feb 2, 2013 6:10:56 AM Ignore alphanyr Report Abuse Lower prices
RUNNINONEMPTYFL Champion Author Florida Posts:1,408 Points:460,700 Joined:May 2011	Message Posted: Feb 2, 2013 6:10:05 AM Ignore RUNNINONEMPTYFL Report Abuse The way they just increased the prices, now wonder there were record profits!!!
isem Champion Author Missouri Posts:1,921 Points:422,210 Joined:Feb 2012	Message Posted: Feb 2, 2013 6:07:56 AM Ignore isem Report Abuse 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 Posts:1,653 Points:350,845 Joined:Dec 2011	Message Posted: Feb 2, 2013 6:07:54 AM Ignore VB_Richard Report Abuse Where does it all go???
kobes1 Champion Author Florida Posts:2,487 Points:556,635 Joined:Aug 2011	Message Posted: Feb 2, 2013 6:07:04 AM Ignore kobes1 Report Abuse Greed
pastorpaulcg Champion Author Virginia Posts:3,615 Points:775,785 Joined:Dec 2010	Message Posted: Feb 2, 2013 6:00:41 AM Ignore pastorpaulcg Report Abuse Good for them, at least someone is making money