Chevron earns USD 5.7 Bln in Q2

Chevron Corporation reported earnings of $5.7 billion for second quarter 2014, compared with $5.4 billion in the 2013 second quarter.

Foreign currency effects decreased earnings in the 2014 quarter by $232 million, compared with an increase of $302 million a year earlier.

Sales and other operating revenues in second quarter 2014 were $56 billion, compared to $55 billion in the year-ago period.

“Our second quarter earnings and cash flow were solid,” said Chairman and CEO John Watson.

He added, “We continue to make significant progress on our major capital projects which are expected to underpin a 20 percent increase in production by 2017 and enable significant growth in our cash flows.  Our Gorgon and Wheatstone LNG projects continue to reach important interim milestones. Gorgon remains on track for expected start-up in mid-2015.”

Press Release, August 4, 2014; Image: Chevron