Chevron Reports Third Quarter Net Income of $3.7 Billion, Down $1.3 Billion from Third Quarter 2006

Chevron Corporation today reported net income of $3.7 billion ($1.75 per share – diluted) for the third quarter 2007, compared with $5 billion ($2.29 per share – diluted) in the year-ago period.

Results for the 2007 quarter included approximately $400 million ($0.19 per share) of net charges associated with nonrecurring items, about the same amount recorded for such items a year ago.