US-based integrated energy company Chevron has reported a net income of $4.9 billion, or $2.44 diluted per share, for the fourth quarter of 2008, compared to $4.88 billion, or $2.32 per diluted share, for the same period of 2007.
For the fourth quarter of 2008, Chevron has reported sales and other operating revenues of $43 billion, compared to $60 billion for the same period of 2007.
For 2008, Chevron has reported sales and other operating revenues of $265 billion, compared to $214 billion for 2007.
The company has reported a net income of $23.93 billion, or $11.67 per diluted share, for 2008, compared to $18.69 billion, or $8.77 per diluted share, for 2007.
According to the company worldwide oil-equivalent production averaged 2.54 million barrels per day in the fourth quarter 2008, compared with 2.61 million barrels per day in the corresponding 2007 period. The decline between periods was primarily associated with the ongoing effect of damage to production facilities caused by hurricanes in the Gulf of Mexico in September 2008.
Dave O’Reilly, chairman and CEO of Chevron, said: Fourth-quarter earnings for our downstream business improved as the lower cost of crude-oil feedstocks used in the refining process helped grow margins on the sale of gasoline and other refined products.
