Chevron Corp.’s interim update for Q2 2014 reports that earnings are expected to be higher than Q1 2014, as a result of gains on asset sales and an absence of impairments in the prior quarter.
However, foreign exchange losses in Q2 are expected to be higher than Q1 losses.
Although US net oil-equivalent production was said to be higher in Q2 2014, international net oil-equivalent production was lower due to planned turnaround activity in Kazakhstan and as a result of the Angola LNG plant shutdown.
Adapted from press release by Callum O'Reilly
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