Show the full website

EnergyWatch

Loss-making Chevron has lost control

We control what we can, Chevron says. Neither the supermajor's big cost-cutting measures nor increased oil prices have been sufficient to avoid a major deficit in the third quarter.

Photo: TORU HANAI/REUTERS / X90040

'It's mostly out of our hands.'

That's an approximate summary of the sentiment expressed by oil supermajor Chevron's Chief Executive and Chair Michael Wirth, after the US firm on Friday presented a quarterly fiscal report showing a bottom line at minus USD 207 million.

Read this article for free

Register with your E-mail.
No credit card required.

Get full access for you and your coworkers.

Start a free company trial today

Receive newsletter from EnergyWatch today

NB: Subscribing to the newsletter is free.

More from EnergyWatch

Jobs

See all jobs