USA: Chevron Issues Interim Update for Third Quarter 2010
- Business & Finance
Chevron Corporation today reported in its interim update that earnings for the third quarter 2010 are expected to be lower than in the second quarter.
Non-cash foreign currency effects due to the weakening of the U.S. dollar are expected to reduce earnings approximately $400 million for the full quarter, primarily in the International Upstream business segment. Higher expenses and lower crude oil realizations are expected to further reduce Upstream earnings.
Source:Chevron, October 13, 2010