Close Menu
    Facebook X (Twitter) Instagram
    Facebook X (Twitter) Instagram
    SweetCrudeReportsSweetCrudeReports
    Subscribe
    • Home
    • Oil
    • Gas
    • Power
    • Solid Minerals
    • Labour
    • Financing
    • Freight
    • Community Development
    • E-Editions
    SweetCrudeReportsSweetCrudeReports
    Home » Chevron Corp slips by 1% after huge loss

    Chevron Corp slips by 1% after huge loss

    February 2, 2020
    Share
    Facebook Twitter LinkedIn WhatsApp

    OpeOluwani Akintayo
    with agency report

    Lagos — Chevron Corporation shares fell by approximately 1% in the pre-market trading in New York after it posted its biggest loss in a decade.

    The American oil giant slipped by 1.4% after it wrote down the value of North American natural gas fields and returns plunged from overseas refining and oil production.

    Most of the fourth-quarter loss stemmed from $10.4 billion in previously announced impairments.

    Profit from the company’s international downstream and upstream divisions also sank.

    Chevron Chief Executive Officer Mike Wirth is differentiating the oil explorer from some of its biggest rivals by funding bigger shareholder payouts and buybacks with cash rather than borrowed money, according to a Blomberg report.

    Royal Dutch Shell Plc rowed back on buyback plans and Exxon is facing another quarter of resorting to debt or asset sales to cover dividends.

    Investors are keenly interested in whether the expansion of one of Chevron’s marquee fields in Central Asia will face additional cost increases.
    For some few years now, it has continued to invest in divestment from being just an oil major to include gas.

    Follow us on twitter

    Related News

    Crude climbs on US jobs report, China talks

    Oil prices at risk amid supply increases, demand concerns

    Renaissance briefs FG on 200,000 b/d milestone following Shell asset takeover

    E-book
    Resilience Exhibition

    Latest News

    Crude climbs on US jobs report, China talks

    June 6, 2025

    Be deliberate in securing govt facilities in your communities – IBAS

    June 6, 2025

    UAE’s power capacity to reach 79.1GW in 2035

    June 6, 2025

    Gold steady near week high as markets brace for key US jobs data

    June 6, 2025

    Nigeria’s renewable power capacity to reach 1.7GW in 2035

    June 6, 2025
    Demo
    Facebook X (Twitter) Instagram
    • Opec Daily Basket
    • Oil
    • Power
    • Gas
    • Freight
    • Financing
    • Labour
    • Technology
    • Solid Mineral
    • Conferences/Seminars
    • Community Development
    • Nigerian Content Initiative
    • Niger-Delta Question
    • Insurance
    • Other News
    • Focus
    • Feedback
    • Hanging Out With Markson

    Subscribe for Updates

    Get the latest energy news from Sweetcrudereports.

    Please wait...
    Please enter all required fields Click to hide
    Correct invalid entries Click to hide
    © 2025 Sweetcrudereports.
    • About Us
    • Advertise with us
    • Privacy Policy

    Type above and press Enter to search. Press Esc to cancel.