Chevron Corp. expects fourth-quarter earnings to be “notably higher” than third-quarter profit.
The company said Thursday that its fourth-quarter results will be helped by bigger gains on asset sales and more oil and gas production.
Chevron is the nation’s second-biggest oil company, and it earned $5.25 billion, or $2.69 per share, in the third quarter. Analysts expect the company to report earnings of $3.03 per share when it posts fourth-quarter results on Feb. 1. The company reported a $1.4 billion gain from the 2012 swap with Royal Dutch Shell of stakes in natural gas fields off the coast of Australia. U.S. oil and gas production rose 39,000 barrels per day during the first two months of the quarter on recovery from Hurricane Isaac.