And yet another story of another oil and gas company benefiting from better refinery margins. See earlier
story on XOM posted earlier this morning.
Chevron Corp. posted a 41 percent gain in net income for the fourth quarter as the company produced more oil and gas, improved the
performance of its refinery business and realized a gain from swapping
assets in an Australian natural gas field.
Chevron Corp. posted net income of $7.2 billion for the quarter on
revenue of $60.6 billion. That's up from $5.1 billion on revenue of $60
billion a year ago.
On a per-share basis, Chevron earned $3.70. Analysts had expected the
company to earn $3.06 per share, according to FactSet, but analysts had
not factored in the $1.4 billion gain from Chevron's asset exchange.
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