Chevron Corp. posted a 41 percent gain in net income for the fourth quarter as the company produced more oil and gas, improved the performance of its refinery business and realized a gain from swapping assets in an Australian natural gas field.
Chevron Corp. posted net income of $7.2 billion for the quarter on revenue of $60.6 billion. That’s up from $5.1 billion on revenue of $60 billion a year ago. It was the biggest fourth quarter profit in the company’s history. The company’s annual profit of $26.2 billion was second only to last year’s numbers.
On a per-share basis, Chevron earned $3.70. Analysts had expected the company to earn $3.06 per share, according to FactSet.
News Tribune news services
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