A Review of the Nigerian Energy Industry

Chevron expects higher second quarter earnings

13 July 2012, Sweetcrude, HOUSTON – Chevron Corporation, Thursday, reported in its interim update that earnings for the second quarter 2012 are expected to be higher than first quarter 2012.

Upstream results are projected to be lower between sequential quarters, due to lower average crude oil prices, partially offset by foreign exchange gains, the company said.

It said downstream earnings for the second quarter would be significantly higher, reflecting improved refining margins and gains on asset sales.

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