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  4. Chevron reports Q2 income of US$ 5.7 billion

Chevron reports Q2 income of US$ 5.7 billion

 

LNG Industry,

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

 

Chevron increases LNG spending

Chevron CEO has reported progress on its Gorgon and Wheatstone LNG projects, noting that spending will increase in 2014.

Wheatstone LNG receives environmental approval

Chevron has received environmental approval from the Government of Western Australia, clearing the way for work to start on its huge Wheatstone LNG gas export project once it receives federal approval.