High oil prices boost Chevron`s third quarter profits
High oil prices boosted net income for US oil company Chevron to 7.8 billion for the third quarter, a 4-billion-dollar boost over profits in the same period last year, dpa reported.
"We've had another successful quarter, with both strong earnings and cash flow," said chairman and chief executive John Watson.
Along with the boost in oil prices, he said asset sales and improved prices on petroleum markets had also helped the company's bottom line.
The numbers for the first nine months of the year showed an even bigger rise, with the company reporting 21.7 billion dollars of profit for that period in 2011, versus 13.7 billion in 2010.
Total third quarter revenues rose to 64.4 billion dollars, up from 49.7 billion in the third quarter of 2010.
Here we are to serve you with news right now. It does not cost much, but worth your attention.
Choose to support open, independent, quality journalism and subscribe on a monthly basis.
By subscribing to our online newspaper, you can have full digital access to all news, analysis, and much more.
You can also follow AzerNEWS on Twitter @AzerNewsAz or Facebook @AzerNewsNewspaper
Thank you!