ChevronTexaco Reports Q3 Net Income of $3.2 Billion
Posted: 03 November 2004
Higher oil and gas prices and gains on nonstrategic asset sales contribute to $2.6 billion of upstream earnings
ChevronTexaco Corp. reported net income of $3.2 billion ($1.51 per share – diluted) for the third quarter 2004, compared with net income of $2 billion ($1.01 per share – diluted) in last year’s third quarter. The amount in 2004 included special-item gains of $486 million ($0.23 per share – diluted) related to the sale of nonstrategic assets.
For the nine months of 2004, net income was $9.9 billion ($4.65 per share – diluted), compared with $5.5 billion ($2.66 per share – diluted) in the corresponding 2003 period.
Posted by Alexander Lindsay, Editor Pipeline Magazine
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