Chevron Corporation reported its interim update, which contains industry and company operating data for the first two months of the second quarter.
UPSTREAM
U.S. net oil-equivalent production was comparable with first quarter 2013 results. International net oil equivalent production decreased 71,000 barrels per day, primarily due to planned turnaround activity in Kazakhstan and Australia, maintenance in Nigeria, and lower demand in Thailand.
DOWNSTREAM
U.S. refinery crude-input volumes increased by 183,000 barrels per day, largely due to the completion of planned maintenance activity at the Pascagoula, Mississippi refinery and the late-April restart of the Richmond, California refinery crude unit which resumed normal operations by quarter-end. International refinery crude-input volumes increased 40,000 barrels per day, reflecting completion of maintenance activities at the Burnaby, Canada and Cape Town, South Africa refineries.Chemicals earnings are expected to be lower due to planned and unplanned outages affecting ethylene production.