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Chevron posts largest quarterly loss since 2001 on weak oil prices
July 29, 2016 by creative · Leave a Comment
HOUSTON (Reuters) – Chevron Corp, the second-largest U.S.-based oil producer, posted a second-quarter loss on Friday, its largest since 2001, due to the slump in crude prices and refining income. The company lost $1.47 billion, or $1.07 per share, compared with a net profit of $571 million, or 30 cents per share, in the year-ago period. Production fell about 3 percent to 2.53 million barrels of oil equivalent per day (boe
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Chevron posts largest quarterly loss since 2001 on weak oil prices