Latest Chevron Corp News

High oil prices help Saudi Aramco earn $88B in first half

Aug. 14, 2022 10:23 AM EDT

DUBAI, United Arab Emirates (AP) — Saudi energy company Aramco said Sunday its profits jumped 90% in the second quarter compared to the same time last year, helping its half-year earnings reach nearly $88 billion. The increase is a boon for the kingdom and the crown prince's spending power as...

Illumina, ResMed fall; Broadridge, Humana rise

Aug. 12, 2022 16:29 PM EDT

NEW YORK (AP) — Stocks that traded heavily or had substantial price changes Friday: Illumina Inc., down $19.12 to $208.33. The genetic testing tools company reported disappointing second-quarter financial results. Chevron Corp., up 23 cents to...

Gas prices dip just below $4 for the first time in 5 months

Aug. 11, 2022 18:26 PM EDT

DALLAS (AP) — Gasoline prices have dipped under $4 for the first time in more than five months — good news for consumers who are struggling with high prices for many other essentials. AAA said the national average for a gallon of regular was $3.99 on Thursday, down from the...

Growth in corporate profits may not be as strong as it seems

Aug. 11, 2022 09:43 AM EDT

NEW YORK (AP) — Wall Street's big gains this summer have been spread widely across industries. The profit growth helping to underpin those gains? Not so much. Roughly 90% of the companies in the S&P 500 have reported their second quarter results, and their earnings per share...

Warren Buffett's company has bet $47B on the oil sector

Aug. 09, 2022 12:05 PM EDT

OMAHA, Neb. (AP) — Warren Buffett's company has bought up more than $11 billion worth of Occidental Petroleum stock this year, giving Berkshire Hathaway control of more than 20% of the oil producer. Occidental's stock rose more than 3.5% on Tuesday to $62.18 after Buffett revealed...

Buffett's firm reports $44B loss but its businesses thrive

Aug. 06, 2022 14:33 PM EDT

OMAHA, Neb. (AP) — Warren Buffett’s company reported a $43.76 billion loss in the second quarter as the paper value of its investments plummeted, but Berkshire Hathaway’s many operating companies generally performed well suggesting the overall economy is weathering the pressure from inflation...

BP earnings soar as energy firm profits from rising prices

Aug. 02, 2022 11:30 AM EDT

LONDON (AP) — BP said its earnings from April to June almost tripled from a year earlier, increasing pressure on governments to intervene as energy companies profit from high oil and natural gas prices that are fueling inflation and squeezing consumers. Net income jumped to $9.26...

Stocks rally again, close out best month since Nov. 2020

Jul. 29, 2022 16:56 PM EDT

Stocks racked up more gains Friday as Wall Street closed out its best month since November 2020, a welcome breather for investors after a punishing year for the market. The S&P 500 index, a benchmark for many stock funds, rose 1.4% and finished 9.1% higher for July. A rebound in...

Amazon, Chevron rise; Roku, Intel fall

Jul. 29, 2022 16:19 PM EDT

Stocks that traded heavily or had substantial price changes Friday: Chevron Corp., up $13.39 to $163.78. The oil company racked up record quarterly profits in the second quarter amid high oil and gas prices. Roku Inc., down $19.65 to $65.52. ...

Unprecedented profit for major oil drillers as prices soared

Jul. 29, 2022 11:12 AM EDT

NEW YORK (AP) — Oil companies swam in record profits over the last few months at a time when Americans struggled to pay for gasoline, food and other basic necessities. On Friday, Exxon Mobil booked an unprecedented $17.85 billion profit for the second quarter and Chevron made a...