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Article: Business Briefs
- Article from:
- Honolulu Star - Bulletin
- Article date:
- October 31, 2009
- Author:
CopyrightCopyright Honolulu Star - Bulletin Oct 31, 2009. Provided by ProQuest LLC. (Hide copyright information)
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Chevron gains with production
NEW YORK » Chevron Corp., which operates the second-largest refinery in Hawaii, said yesterday it pumped its way through a weak third quarter, producing more oil as prices recovered from a severe plunge earlier in the year.
The nation's second-largest oil and gas producer boosted revenue by increasing oil production by 11 percent. Its average sale price for crude and natural gas liquids over the past three months was $62 per barrel, but well below the $103 it fetched during the same period last year.
The San Ramon, Calif.-based company reported that overall profits dropped 51 percent to $3.83 billion, or $1.92 a share when compared with the same three-month ...