Chevron’s Quarterly Profit Rises on Gain From Refinery Sale
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Chevron Corp., the second-largest U.S. energy company, said third-quarter profit rose as proceeds from a refinery sale and the strengthening U.S. dollar more than offset slowing oil demand.
Chevron’s net income in the period that ended Sept. 30 was “comparable” with second-quarter results, when the company reported a profit of $7.73 billion, exceeding the $3.77 billion earned during the third quarter of 2010. Chevron announced selected third-quarter results in a statement distributed via Business Wire. The company, based in San Ramon, California, is scheduled to release full third-quarter results on Oct. 28.