Chevron Corporation (CVX) released Q2 earnings, reporting a net loss of $8.27 billion, or $4.44 per share for the quarter ending June 30 in comparison to a net income of $4.31 billion, or $2.27 per share, a year earlier. The company took charges of $5.2 billion due to a drop in oil prices caused by the Coronavirus lockdowns and falling fuel demand.
The oil major’s net oil-equivalent production fell 3% to 2.99 million barrels per day in the quarter. Chevron also recorded a $310 million gain in the quarter on the sale of Azerbaijan assets.
Dow 30 component Chevron Corporation (CVX), through its subsidiaries, engages in integrated energy, chemicals, and petroleum operations worldwide. To learn more about Chevron (CVX) and to track their progress please visit the Vista Partners Chevron Page.
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