Chevron reports Q2 income of US$ 5.7 billion

Chevron Corporation has reported earnings of US$ 5.7 billion for the second quarter of 2014, compared with US$ 5.4 billion in Q2 2013.

Sales and other operating revenues in the second quarter were US$ 56 billion, compared to US$ 55 billion in the year-ago period.

Comments

Commenting on the results, Chevron Chairman and CEO, John Watson, said: “Our second quarter earnings and cash flow were solid.

“We continue to make significant progress on our major capital projects which are expected to underpin a 20% increase in production by 2017 and enable significant growth in our cash flows.

“In Australia, our Gorgon and Wheatstone LNG projects continue to reach important interim milestones. Gorgon remains on track for expected start-up in mid-2015.”

LNG highlights

• All Gorgon Train 1 and common modules required for first LNG have been delivered and installed on Barrow Island.
• The first deliveries arrived at the Wheatstone Project’s Materials Offloading Facility. Preparations continue for arrival of the first Train 1 process modules, anticipated later this year.

Edited from various sources by Katie Woodward

Read the article online at: https://www.lngindustry.com/liquid-natural-gas/04082014/chevron-reports-q2-2014-lng-highlights-1137/