World News
Chevron Expects Earnings Rise in Q2
Chevron Corp. [NYSE:CVX] says it expected higher earnings in the second quarter of the year than the first thanks to gains on asset sales and the elimination of impairments it experienced at the start of the year.
The company's U.S. production levels rose quarter-over-quarter as production increased in the Permian Basin, and there was less maintenance activity in the Gulf of Mexico.
Elsewhere in the world, production fell due to the shutdown of a liquefied natural gas (LNG) facility in Angola, as well as planned turnaround activity in Kazakhstan.
Altogether, Chevron reported 460 million barrels per day (mbd) of liquid production and 1.2 million cubic feet per day (mmcfd) of natural gas production in Q2 through May in the U.S., and 1.3 mbd of liquids and 4.0 mmcfd of natural gas from international sources.
The Angola plant, in which Chevron is a 36.4 percent shareholder, was shut down in April due to technical problems after struggling to boost output, Reuters reported at the time.
Key Bunker Prices More
| VLSFO | MGO | |||
|---|---|---|---|---|
| $/mt | +/- | $/mt | +/- | |
| Singapore | 649.00 | 0.00 | 770.00 | 5.00 |
| Rotterdam | 602.50 | 1.00 | 762.00 | 2.50 |
| Houston | 630.50 | 4.00 | 796.50 | 2.50 |
| Fujairah | 648.50 | 0.50 | 900.00 | 4.50 |
| Global 20 Ports Average | 666.00 | 2.00 | 856.00 | 1.00 |
| Global 4 Ports Average | 632.50 | 0.50 | 807.00 | 1.00 |
| Global Average Bunker Price | 715.50 | 1.00 | 893.00 | 8.00 |
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