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Chevron posts record profit

SF Gate -- Chevron said Friday that its fourth-quarter profit increased 41 percent to a record $7.25 billion ($3.70 per share) as it reported stronger refining results and a gain from an Australian natural gas field swap.

That was up from $5.12 billion ($2.58) a year earlier, the San Ramon company said. Analysts had predicted a profit of $3.06 per share. Sales fell 3 percent to $56.3 billion.

Chevron shares rose just over 1 percent to $116.50 Friday.

Chevron's refining segment returned to profit from a loss a year earlier as rising supplies from U.S. shale formations lowered crude input costs and processing margins climbed 46 percent. Chevron also benefited as crude prices rose in international energy markets. About 75 percent of the company's crude is pumped from non-U.S. wells.

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Submitted Feb 02, 2013 By: aservant

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WalkingWV Champion Author West Virginia Posts:3,701 Points:779,595 Joined:May 2008	Message Posted: Feb 3, 2013 11:51:06 AM Ignore WalkingWV Report Abuse Gouging and scheming pays big!
DanMtz Champion Author Oakland Posts:3,360 Points:1,244,300 Joined:Oct 2009	Message Posted: Feb 3, 2013 8:42:23 AM Ignore DanMtz Report Abuse Great, now fix the refinery.
underbird10 Sophomore Author Atlanta Posts:166 Points:21,150 Joined:Jan 2009	Message Posted: Feb 2, 2013 2:18:51 PM Ignore underbird10 Report Abuse Billions and billions in profit every quarter and all we hear about is how hard it is to make a profit in the oil business. Meanwhile average, everyday people are starving or are simply scraping by by the skin of their teeth and seeing their taxes shoot up to pay for the rest of the poor. I wonder how much of this profit will be going to pay for Obamacare and to fund the Social Security shortfall. Answer is: approximately none.
1OILMAN Champion Author Alabama Posts:2,080 Points:159,980 Joined:Mar 2011	Message Posted: Feb 2, 2013 2:09:28 PM Ignore 1OILMAN Report Abuse Love those dividends and the increase in stock price!! Keep it going!!
CPGas1815 Champion Author Michigan Posts:6,027 Points:1,099,605 Joined:Apr 2008	Message Posted: Feb 2, 2013 11:52:30 AM Ignore CPGas1815 Report Abuse I am not at all surprised Chevron made a record profit. After all the oil industry has been gouging us at the pump for many years.
Ply440GTX All-Star Author Texas Posts:955 Points:310,555 Joined:Feb 2009	Message Posted: Feb 2, 2013 11:19:38 AM Ignore Ply440GTX Report Abuse More to come this year...
merlinCO Champion Author Colorado Posts:1,645 Points:342,370 Joined:Mar 2012	Message Posted: Feb 2, 2013 10:09:54 AM Ignore merlinCO Report Abuse Imagine that!
bar1035 Champion Author Charlotte Posts:9,167 Points:1,299,195 Joined:Aug 2006	Message Posted: Feb 2, 2013 9:24:14 AM Ignore bar1035 Report Abuse When does Apple report it's earnings?
Grizdad Champion Author San Bernardino Posts:5,540 Points:785,075 Joined:Oct 2010	Message Posted: Feb 2, 2013 7:57:07 AM Ignore Grizdad Report Abuse Fat cats got some huge bonuses...
geezrtek Champion Author Michigan Posts:1,912 Points:431,960 Joined:Apr 2011	Message Posted: Feb 2, 2013 7:46:13 AM Ignore geezrtek Report Abuse Buy stock in Chevron.
scu227 Champion Author New Haven Posts:4,157 Points:772,855 Joined:Feb 2011	Message Posted: Feb 2, 2013 7:24:08 AM Ignore scu227 Report Abuse And they continue to raise prices !!!! WHY ???????
humblepie Champion Author Toledo Posts:34,276 Points:2,373,320 Joined:Mar 2006	Message Posted: Feb 2, 2013 7:16:11 AM Ignore humblepie Report Abuse more job security
doeslayersr Champion Author Illinois Posts:9,121 Points:872,980 Joined:Dec 2010	Message Posted: Feb 2, 2013 7:08:09 AM Ignore doeslayersr Report Abuse Good. An American company which employs American people in American jobs.
peabeax55 All-Star Author Atlanta Posts:713 Points:185,515 Joined:Mar 2012	Message Posted: Feb 2, 2013 6:04:46 AM Ignore peabeax55 Report Abuse They are taking advantage of the general public. Wrong in every way.
gd83goldwinger Champion Author South Bend Posts:1,428 Points:504,980 Joined:May 2011	Message Posted: Feb 2, 2013 4:50:53 AM Ignore gd83goldwinger Report Abuse And this is not a sign of gouging the consumer.
millerin Champion Author Orlando Posts:2,317 Points:483,090 Joined:Jan 2012	Message Posted: Feb 2, 2013 4:50:27 AM Ignore millerin Report Abuse good time for oil companies.
csnvcas All-Star Author Illinois Posts:707 Points:168,890 Joined:Nov 2012	Message Posted: Feb 2, 2013 4:38:07 AM Ignore csnvcas Report Abuse Interesting
Lengas Champion Author Gary Posts:13,561 Points:2,718,975 Joined:Nov 2004	Message Posted: Feb 2, 2013 4:38:03 AM Ignore Lengas Report Abuse SOP
regout Champion Author Quebec Posts:2,960 Points:833,680 Joined:May 2010	Message Posted: Feb 2, 2013 4:37:51 AM Ignore regout Report Abuse No surprise but since our government don't do anything against speculators, oil will increase and their pockets will be full of our money.
bladecutter Champion Author Houston Posts:4,861 Points:985,050 Joined:Nov 2009	Message Posted: Feb 2, 2013 4:34:25 AM Ignore bladecutter Report Abuse Good for them.
hyeglenn Champion Author Fresno Posts:1,075 Points:600,655 Joined:Apr 2011	Message Posted: Feb 2, 2013 4:34:18 AM Ignore hyeglenn Report Abuse Good for Chevron, at least someone is making some money.
forderjunk Champion Author Maine Posts:10,643 Points:2,173,710 Joined:Sep 2005	Message Posted: Feb 2, 2013 4:33:25 AM Ignore forderjunk Report Abuse wasnt that a surprise
wkb03 Champion Author Georgia Posts:1,970 Points:595,000 Joined:Aug 2011	Message Posted: Feb 2, 2013 4:33:08 AM Ignore wkb03 Report Abuse Not surprining with past & current fuel cost.
Ringmaster2008 Champion Author Ontario Posts:7,588 Points:1,164,985 Joined:Apr 2008	Message Posted: Feb 2, 2013 4:30:26 AM Ignore Ringmaster2008 Report Abuse Should come as no surprise based on pump prices
mrreferee Champion Author Savannah Posts:1,341 Points:558,605 Joined:Jun 2011	Message Posted: Feb 2, 2013 4:30:23 AM Ignore mrreferee Report Abuse whew! that's a load on my back! I was afraid they were going broke....
dar 1 Champion Author Michigan Posts:5,903 Points:446,615 Joined:Jan 2005	Message Posted: Feb 2, 2013 4:30:09 AM Ignore dar 1 Report Abuse And with higher gas they will do even better....
turbodog Champion Author Mississippi Posts:6,761 Points:1,363,415 Joined:Feb 2009	Message Posted: Feb 2, 2013 4:29:39 AM Ignore turbodog Report Abuse Good story along with current price gouge
walkerms1 All-Star Author Albany Posts:960 Points:159,900 Joined:Sep 2012	Message Posted: Feb 2, 2013 4:29:12 AM Ignore walkerms1 Report Abuse I miss standard oil.
swede Champion Author Cleveland Posts:3,772 Points:1,677,750 Joined:Feb 2003	Message Posted: Feb 2, 2013 4:27:18 AM Ignore swede Report Abuse good for them their stock holders will like that
wheelman82 Champion Author Maryland Posts:36,041 Points:2,192,865 Joined:Apr 2007	Message Posted: Feb 2, 2013 4:25:31 AM Ignore wheelman82 Report Abuse Shocking....not.
GasPriceHelp4u Champion Author Dayton Posts:2,692 Points:569,775 Joined:Jul 2008	Message Posted: Feb 2, 2013 4:25:20 AM Ignore GasPriceHelp4u Report Abuse Not surprised!!! They are sucking us dry!!!
naspa Champion Author Cleveland Posts:1,281 Points:354,100 Joined:Jan 2012	Message Posted: Feb 2, 2013 4:24:36 AM Ignore naspa Report Abuse These ridiculously high fuel prices have to have a result somewhere. No matter if the is on the behalf of the little people.
DblChek Champion Author San Antonio Posts:2,345 Points:615,245 Joined:Jul 2008	Message Posted: Feb 2, 2013 4:24:16 AM Ignore DblChek Report Abuse “…reported stronger refining results and a gain from an Australian natural gas field swap.” “About 75 percent of the company's crude is pumped from non-U.S. wells. ”Makes ya wonder... [Edited by: DblChek at 2/2/2013 6:25:14 AM EST]
scottydoesnt Champion Author Chicago Posts:3,787 Points:529,545 Joined:Apr 2011	Message Posted: Feb 2, 2013 4:23:26 AM Ignore scottydoesnt Report Abuse Really ? I can't imagine why.
Ratso Champion Author Ohio Posts:18,808 Points:2,686,545 Joined:Sep 2003	Message Posted: Feb 2, 2013 4:22:21 AM Ignore Ratso Report Abuse As if we couldn't suspect !..ech, greed!
bsmerl Champion Author Florida Posts:1,088 Points:382,135 Joined:Nov 2004	Message Posted: Feb 2, 2013 4:21:02 AM Ignore bsmerl Report Abuse these companies get fined up the #(%&(#@ to the tune of millions and billions in the case of bp. They just tack fines on to the price of oil and continue with record profits. I pray for the day that our politicians get smart and start regulating this monopolistic industry.
madison8359 Champion Author Cleveland Posts:9,036 Points:1,595,245 Joined:Apr 2008	Message Posted: Feb 2, 2013 4:20:28 AM Ignore madison8359 Report Abuse They really need tax supports and high retail. More than a billion a month not bad.
jppezz Champion Author New Mexico Posts:8,601 Points:1,694,510 Joined:Jun 2008	Message Posted: Feb 2, 2013 4:18:30 AM Ignore jppezz Report Abuse Gee what a surprise an oil company making record profits.
AvantiMick Champion Author Indiana Posts:12,751 Points:2,544,475 Joined:Dec 2005	Message Posted: Feb 2, 2013 4:18:17 AM Ignore AvantiMick Report Abuse Imagine that!!!
gstoney Veteran Author Ontario Posts:476 Points:280,165 Joined:Jun 2008	Message Posted: Feb 2, 2013 4:17:05 AM Ignore gstoney Report Abuse Should anyone be surprised at this?
bsmerl Champion Author Florida Posts:1,088 Points:382,135 Joined:Nov 2004	Message Posted: Feb 2, 2013 4:15:38 AM Ignore bsmerl Report Abuse Did anybody doubt they would have record profits? Up up and away!!!
sappie Champion Author Massachusetts Posts:3,506 Points:587,570 Joined:Jul 2010	Message Posted: Feb 2, 2013 4:15:29 AM Ignore sappie Report Abuse no surprise.
bassakwards007 Champion Author Orange County Posts:1,142 Points:246,170 Joined:Aug 2012	Message Posted: Feb 2, 2013 4:15:13 AM Ignore bassakwards007 Report Abuse Yes, so the fine they paid (Millions) for the San Francisco refinery fire did not hurt them a bit..make um bleed for cripes sakes!
raccoon2011 Champion Author Massachusetts Posts:1,404 Points:353,225 Joined:Aug 2011	Message Posted: Feb 2, 2013 4:13:42 AM Ignore raccoon2011 Report Abuse par for the oil company
alphanyr Champion Author Connecticut Posts:4,835 Points:677,475 Joined:Apr 2011	Message Posted: Feb 2, 2013 4:10:56 AM Ignore alphanyr Report Abuse Lower prices
RUNNINONEMPTYFL Champion Author Florida Posts:1,408 Points:460,700 Joined:May 2011	Message Posted: Feb 2, 2013 4:10:05 AM Ignore RUNNINONEMPTYFL Report Abuse The way they just increased the prices, now wonder there were record profits!!!
isem Champion Author Missouri Posts:1,936 Points:424,385 Joined:Feb 2012	Message Posted: Feb 2, 2013 4:07:56 AM Ignore isem Report Abuse Everybody hates a company when they make a profit but they also hate them when they lose money, go broke and close for business because that causes unemployment to rise and deprives “me” of products.
VB_Richard Champion Author Virginia Beach Posts:1,663 Points:353,545 Joined:Dec 2011	Message Posted: Feb 2, 2013 4:07:54 AM Ignore VB_Richard Report Abuse Where does it all go???
kobes1 Champion Author Florida Posts:2,502 Points:559,110 Joined:Aug 2011	Message Posted: Feb 2, 2013 4:07:04 AM Ignore kobes1 Report Abuse Greed
pastorpaulcg Champion Author Virginia Posts:3,615 Points:775,785 Joined:Dec 2010	Message Posted: Feb 2, 2013 4:00:41 AM Ignore pastorpaulcg Report Abuse Good for them, at least someone is making money