Chevron Corp., the second-largest energy company by market value, said crude oil and natural gas output declined 2.1 percent during April and May compared with the second quarter of last year.
Chevron pumped an average equivalent of 2.569 million barrels of crude a day during April and May, compared with 2.624 million a day in the full second quarter of last year, the San Ramon, California-based company said in a release today. Chevron is scheduled to announce full quarterly results on Aug. 2.
The company’s refineries processed an average of 1.617 million barrels of crude a day during April and May, a 10 percent decrease from the full second quarter a year earlier. Chemical earnings declined because of unspecified plant outages that interrupted ethylene production, according to the release.
Exxon Mobil Corp. is the biggest energy producer by market value.