Downstream Operations Boost Chevron Earnings

摘要

Chevron said lower oil prices contributed to a better performance from its downstream operations, helping to boost its overall earnings in the third quarter. But management also said that if lower oil prices persist, it may pare back on exploration work or postpone some early-phase development projects. The California-based major reported thirdquarter earnings of $5.59 billion, up from $4.95 billion in the same period of last year.