Log in
E-mail
Password
Show password
Remember
Forgot password ?
Become a member for free
Sign up
Sign up
New member
Sign up for FREE
New customer
Discover our services
Settings
Settings
Dynamic quotes 
OFFON

CHEVRON CORPORATION

(CVX)
  Report
SummaryQuotesChartsNewsRatingsCalendarCompanyFinancialsConsensusRevisions 
SummaryMost relevantAll NewsAnalyst Reco.Other languagesPress ReleasesOfficial PublicationsSector newsMarketScreener Strategies

Chevron 2Q World-Wide Daily Production Climbs -- Commodity Comment

07/30/2021 | 06:10am EDT

By Dave Sebastian

Chevron Corp. said its world-wide daily production rose 5% in the second quarter, while the average sales prices for crude oil and natural gas nearly tripled.

Refined product sales climbed 40% from a year ago, when Covid-19 lockdowns cut into demand for gasoline and jet fuel.

On upstream operations:

"Worldwide net oil-equivalent production was 3.13 million barrels per day in second quarter 2021," the energy company said.

"U.S. upstream operations earned $1.4 billion in second quarter 2021, compared with a loss of $2.1 billion a year earlier. The improvement was primarily due to higher crude oil realizations and the absence of second quarter 2020 charges for special items including impairments, write-offs and severance accruals. Higher crude oil production also contributed to the improvement between periods."

"The company's average sales price per barrel of crude oil and natural gas liquids was $54 in second quarter 2021, up from $19 a year earlier. The average sales price of natural gas was $2.16 per thousand cubic feet in second quarter 2021, up from $0.81 in last year's second quarter."

On downstream operations:

"U.S. downstream operations reported earnings of $776 million in second quarter 2021, compared with a loss of $988 million a year earlier. The increase was mainly due to higher margins on refined product sales, higher earnings from the 50 percent-owned Chevron Phillips Chemical Company, higher sales volumes, and lower operating expenses, including the absence of second quarter 2020 severance accruals."

"Refinery crude oil input in second quarter 2021 increased 65 percent to 956,000 barrels per day from the year-ago period, as the company increased refinery runs in response to higher demand and the improved refining margin environment."

"Refined product sales of 1.16 million barrels per day were up 40 percent from the year-ago period, mainly due to higher gasoline and jet fuel demand as travel restrictions associated with the COVID-19 pandemic eased."

Write to Dave Sebastian at dave.sebastian@wsj.com

(END) Dow Jones Newswires

07-30-21 0810ET

Stocks mentioned in the article
ChangeLast1st jan.
CHEVRON CORPORATION -0.58% 96.76 Delayed Quote.14.58%
DJ INDUSTRIAL -0.48% 34584.88 Delayed Quote.13.54%
LONDON BRENT OIL -0.38% 75.3 Delayed Quote.46.23%
S&P GSCI CRUDE OIL INDEX -0.39% 393.6204 Delayed Quote.48.60%
S&P GSCI NATURAL GAS INDEX -3.88% 240.9402 Delayed Quote.110.87%
WTI -0.92% 71.894 Delayed Quote.50.62%
All news about CHEVRON CORPORATION
09/16Renewable gas producer Archaea surges in debut after SPAC deal
RE
09/16U.S. Gulf crude oil ramps up after hurricane losses -data
RE
09/16U.S. House panel to probe oil companies over climate disinformation
RE
09/16Fed's Powell Said to Launch Ethics Review After Regional Presidents Disclose ..
MT
09/16GLOBAL MARKETS LIVE : Thales, Nestlé, Evergrande, AMC, Walmart...
09/16WALL STREET STOCK EXCHANGE : US economy shows resilience, while China falters
09/15Chevron would rather pay dividends than invest in wind and solar -CEO
RE
09/15CHEVRON : Accelerates Lower Carbon Ambitions; Triples planned total capital inve..
AQ
09/15WALL STREET STOCK EXCHANGE : Yes, the global economic recovery is slowing
09/15CHEVRON : Wells Fargo Adjusts Chevron's Price Target to $107 from $110, Keeps Eq..
MT
More news
Analyst Recommendations on CHEVRON CORPORATION
More recommendations
Financials (USD)
Sales 2021 150 B - -
Net income 2021 12 219 M - -
Net Debt 2021 30 885 M - -
P/E ratio 2021 15,5x
Yield 2021 5,49%
Capitalization 187 B 187 B -
EV / Sales 2021 1,45x
EV / Sales 2022 1,33x
Nbr of Employees 47 736
Free-Float 79,1%
Chart CHEVRON CORPORATION
Duration : Period :
Chevron Corporation Technical Analysis Chart | CVX | US1667641005 | MarketScreener
Technical analysis trends CHEVRON CORPORATION
Short TermMid-TermLong Term
TrendsNeutralBearishBullish
Income Statement Evolution
Consensus
Sell
Buy
Mean consensus OUTPERFORM
Number of Analysts 28
Last Close Price 96,76 $
Average target price 122,04 $
Spread / Average Target 26,1%
EPS Revisions
Managers and Directors
Michael K. Wirth Chairman & Chief Executive Officer
Brant Thomas Fish President-Downstream & Chemicals
Pierre R. Breber Chief Financial Officer & Vice President
Eimear Bonner President-Technical Center & Vice President
Ronald D. Sugar Lead Independent Director
Sector and Competitors
1st jan.Capi. (M$)
CHEVRON CORPORATION14.58%187 125
EXXON MOBIL CORPORATION33.82%233 523
RELIANCE INDUSTRIES LTD20.41%206 076
BP PLC19.56%83 977
CHINA PETROLEUM & CHEMICAL CORPORATION11.53%79 045
NESTE OYJ-13.96%45 885