Chevron Issues Interim Update for Second Quarter 2012

Chevron Corporation (NYSE: CVX) today reported in its interim update that earnings for the second quarter 2012 are expected to be higher than first quarter 2012. Upstream results are projected to be lower between sequential quarters, due to lower average crude oil prices, partially offset by foreign exchange gains. Downstream earnings in the second quarter are expected to be significantly higher, reflecting improved refining margins and gains on asset sales.
>Oil and Gas Press