Chevron Q4 Earnings Down 13% Y-on-Y on Lower Crude Prices


   
Barani Krishnan
DTN Refined Fuels Market Reporter

   SECAUCUS, NJ (DTN) -- Chevron reported on Friday (1/30) fourth quarter 
earnings of $2.8 billion, down 13% from the $3.2 billion of a year ago, as 
lower crude prices impacted overall financial results.

   Sales and other operating revenues in the fourth quarter were $45.79 
billion, down from $48.33 billion in the year-ago period due primarily to lower 
crude prices.

   U.S. upstream earnings totaled $3.04 billion versus $4.3 billion last year, 
primarily on lower realizations partially offset by higher production volumes 
from the Hess acquisition.

   U.S. net oil-equivalent production reached record levels of 4.05 million bpd 
during the quarter, up 21% from the fourth quarter of 2024 due to growth in the 
Permian Basin.

   Chevron's fourth quarter U.S. downstream earnings at $823 million were 
significantly higher than the $248 million loss in the year-ago quarter, mostly 
due to higher margins.

   Refinery crude oil inputs were influenced by increased capacity at the 
Pasadena refinery, while the company achieved $1.5 billion in structural cost 
reductions during the year.

    




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