EnergyWatch

Oil price drags Chevron into deficit in 2016

Chevron came out of 2016 in better shape than it did 2015. However, the company could not escape an overall deficit last year. "We are well positioned to improve earnings," says the chairman and CEO.

Things went from bad to worse for US-based oil company Chevron in 2016.

Low oil and gas prices dragged the company down into a total annual deficit of USD 497 million, relative to a net profit of USD 4.6 billion in 2015, according to a financial statement from Chevron.

Already a subscriber? Log in.

Read the whole article

Get access for 14 days for free.
No credit card is needed, and you will not be automatically signed up for a paid subscription after the free trial.

  • Access all locked articles
  • Receive our daily newsletters
  • Access our app
An error has occured. Please try again later.

Get full access for you and your coworkers.

Start a free company trial today

More from EnergyWatch

RWE criticizes Repower EU

The German utility is concerned that elements of the new EU plans will end up curtailing the roll-out of hydrogen and that Repower EU could potentially run counter to the entire purpose of emissions trading.

Further reading

Related articles

Latest News

See all jobs