GasBuddy Blog

GasBuddy News Article

votes

Chevron sticks with oil. And it pays off.

Anchorage Daily News online -- CHRIS KAHN
The Associated Press

Published: April 27th, 2012 02:06 PM
Last Modified: April 27th, 2012 02:15 PM

NEW YORK (AP) - Chevron never bought into North America's natural gas boom the way Big Oil peers like Exxon did.

That decision appears to be paying off.

The San Ramon, Calif. energy giant reported Friday that profits increased 4.2 percent from January to March as oil sold for higher prices. Meanwhile a plunge in U.S. natural gas prices contributed to an 11 percent profit decline at Exxon. ConocoPhillips, another major U.S. natural gas producer, saw profits fall 3 percent.

Chevron's reliance on oil "turned out to be a really good decision," Argus Research analyst Phil Weiss said. "And it could serve them well. They have a lot of cash on hand."

New technologies set off a rush

Read the Full Article

Submitted Apr 29, 2012 By: Nitewolf

Back To News

Category: Daily News Article Discussions > Topics	Add to favorite topics

Author	Topic: Chevron sticks with oil. And it pays off.	Post a Reply Back to Topics

REPLIES (newest first)Ignore Short Messages

First Prev

Last

Jeffro61 Champion Author Cleveland Posts:2,277 Points:2,286,845 Joined:Oct 2005	Message Posted: Apr 29, 2012 9:35:49 PM Ignore Jeffro61 Report Abuse They are all still making a profit, just not as much as their greedy butts would like.
lmpski Veteran Author Boston Posts:431 Points:397,305 Joined:May 2011	Message Posted: Apr 29, 2012 9:35:48 PM Ignore lmpski Report Abuse ...and their Techron is still the best.
ClearLaker Rookie Author Indiana Posts:15 Points:1,839,525 Joined:May 2007	Message Posted: Apr 29, 2012 9:31:05 PM Ignore ClearLaker Report Abuse Solar will save us all ... lol
CAD69 Champion Author Milwaukee Posts:3,211 Points:847,215 Joined:Nov 2010	Message Posted: Apr 29, 2012 9:31:00 PM Ignore CAD69 Report Abuse OK
boborobot All-Star Author Michigan Posts:501 Points:417,550 Joined:Dec 2011	Message Posted: Apr 29, 2012 9:29:39 PM Ignore boborobot Report Abuse whatever!!
Ken2OD Champion Author Grand Rapids Posts:9,077 Points:1,972,915 Joined:Dec 2005	Message Posted: Apr 29, 2012 9:29:26 PM Ignore Ken2OD Report Abuse Back 60 years ago, my granddad was a shoe-maker and was very good at his trade. He did what he knew best. He did not get into fixing purses or leather jackets, because he didn't know much about them. Good old fashion soles and heels kept him in business.
rodzilla123 Champion Author San Diego Posts:4,403 Points:1,035,300 Joined:Jul 2008	Message Posted: Apr 29, 2012 9:28:26 PM Ignore rodzilla123 Report Abuse Thats today. The future may be very different. Look at Electricity, The cost of Electricity ahs gone up Lots since 2000 and so will Natural Gas as more and more find ways to use it.
raj_fl Champion Author Trenton Posts:3,214 Points:728,980 Joined:Oct 2010	Message Posted: Apr 29, 2012 9:27:43 PM Ignore raj_fl Report Abuse the future will be bleak for the united states if it does not alter its oil dependence and look for other sources
aggietim Champion Author Fort Worth Posts:1,756 Points:693,625 Joined:Oct 2008	Message Posted: Apr 29, 2012 9:23:58 PM Ignore aggietim Report Abuse Wait for the future
wang91554 Champion Author San Jose Posts:3,175 Points:1,202,780 Joined:May 2009	Message Posted: Apr 29, 2012 9:22:53 PM Ignore wang91554 Report Abuse go Chevron!
heysailor Champion Author Pittsburgh Posts:9,592 Points:2,334,620 Joined:Mar 2006	Message Posted: Apr 29, 2012 9:22:50 PM Ignore heysailor Report Abuse Chevron is pretty smart people.
jmdk721 Champion Author Missouri Posts:1,184 Points:575,330 Joined:Jul 2011	Message Posted: Apr 29, 2012 9:20:25 PM Ignore jmdk721 Report Abuse ok
mcmonsta Champion Author Honolulu Posts:3,232 Points:819,520 Joined:Sep 2009	Message Posted: Apr 29, 2012 9:18:32 PM Ignore mcmonsta Report Abuse have a good niche and expand, when you specialize it can work. ask the medical field
egd Champion Author Twin Cities Posts:8,100 Points:2,120,250 Joined:Mar 2005	Message Posted: Apr 29, 2012 9:17:50 PM Ignore egd Report Abuse good luck??
MG_Sputnik Champion Author Philadelphia Posts:7,315 Points:1,961,605 Joined:Apr 2006	Message Posted: Apr 29, 2012 9:16:58 PM Ignore MG_Sputnik Report Abuse Do what ya gotta do.
theschmuck Champion Author Michigan Posts:2,922 Points:1,512,600 Joined:Mar 2007	Message Posted: Apr 29, 2012 9:16:53 PM Ignore theschmuck Report Abuse It does nothing for the guy at the pump!!!!!!!!!!
Rancher23 Champion Author Cincinnati Posts:3,198 Points:660,320 Joined:May 2011	Message Posted: Apr 29, 2012 9:16:34 PM Ignore Rancher23 Report Abuse Whatever!!!!!
grandamgt1 Champion Author Illinois Posts:2,351 Points:1,241,300 Joined:Apr 2008	Message Posted: Apr 29, 2012 9:16:13 PM Ignore grandamgt1 Report Abuse Called sticking with what you know.
kosciak Champion Author Hartford Posts:1,106 Points:535,025 Joined:Aug 2011	Message Posted: Apr 29, 2012 9:10:25 PM Ignore kosciak Report Abuse ok
jerej829 Champion Author Memphis Posts:2,861 Points:694,940 Joined:May 2011	Message Posted: Apr 29, 2012 9:09:49 PM Ignore jerej829 Report Abuse ok
kosciak Champion Author Hartford Posts:1,106 Points:535,025 Joined:Aug 2011	Message Posted: Apr 29, 2012 9:08:46 PM Ignore kosciak Report Abuse ok
mikaye Champion Author Cleveland Posts:3,839 Points:866,385 Joined:Jun 2010	Message Posted: Apr 29, 2012 9:08:23 PM Ignore mikaye Report Abuse so called alternative fuels are worse
Pete12 Champion Author Albany Posts:4,876 Points:1,645,065 Joined:Nov 2005	Message Posted: Apr 29, 2012 9:08:19 PM Ignore Pete12 Report Abuse They will be sorry in the end run.
Tegger Champion Author Ontario Posts:3,128 Points:1,647,485 Joined:Nov 2005	Message Posted: Apr 29, 2012 9:06:51 PM Ignore Tegger Report Abuse OK
kosciak Champion Author Hartford Posts:1,106 Points:535,025 Joined:Aug 2011	Message Posted: Apr 29, 2012 9:06:48 PM Ignore kosciak Report Abuse ok
ericbcire Champion Author Nevada Posts:4,525 Points:1,268,310 Joined:Aug 2009	Message Posted: Apr 29, 2012 9:05:45 PM Ignore ericbcire Report Abuse They're living off the speculators.
04coupe All-Star Author Ontario Posts:503 Points:490,715 Joined:Aug 2011	Message Posted: Apr 29, 2012 9:03:49 PM Ignore 04coupe Report Abuse Black gold [Edited by: 04coupe at 4/29/2012 9:04:25 PM EST]
WIWalt Champion Author Wisconsin Posts:1,731 Points:415,770 Joined:Mar 2012	Message Posted: Apr 29, 2012 9:02:47 PM Ignore WIWalt Report Abuse Good for them
TopGunn Champion Author Baltimore Posts:9,191 Points:2,617,255 Joined:Aug 2004	Message Posted: Apr 29, 2012 9:00:01 PM Ignore TopGunn Report Abuse So what?
TDIdave Champion Author California Posts:5,063 Points:1,225,715 Joined:May 2006	Message Posted: Apr 29, 2012 8:59:39 PM Ignore TDIdave Report Abuse Ok.
The_DR Champion Author New Jersey Posts:2,790 Points:586,040 Joined:Aug 2011	Message Posted: Apr 29, 2012 8:59:28 PM Ignore The_DR Report Abuse Oil is where the money is.
tco9436 Champion Author Connecticut Posts:1,777 Points:723,250 Joined:Mar 2010	Message Posted: Apr 29, 2012 8:57:56 PM Ignore tco9436 Report Abuse they get richer, we get poorer
vtroger Veteran Author Vermont Posts:284 Points:561,970 Joined:Mar 2011	Message Posted: Apr 29, 2012 8:57:35 PM Ignore vtroger Report Abuse I'm not sure how this really effects anything...
hcivic Champion Author Virginia Posts:3,854 Points:2,265,715 Joined:Aug 2005	Message Posted: Apr 29, 2012 8:53:52 PM Ignore hcivic Report Abuse ok
yakstar Champion Author Montreal Posts:2,420 Points:480,520 Joined:Jan 2012	Message Posted: Apr 29, 2012 8:53:31 PM Ignore yakstar Report Abuse So what are you saying???
idigau22 Champion Author Washington Posts:23,417 Points:3,202,960 Joined:Apr 2003	Message Posted: Apr 29, 2012 8:52:08 PM Ignore idigau22 Report Abuse √
JagXKR Champion Author British Columbia Posts:3,164 Points:1,092,505 Joined:Dec 2009	Message Posted: Apr 29, 2012 8:49:46 PM Ignore JagXKR Report Abuse Good for them bad for the public.
BackwoodsPundit Champion Author Richmond Posts:5,185 Points:1,012,725 Joined:Oct 2005	Message Posted: Apr 29, 2012 8:47:51 PM Ignore BackwoodsPundit Report Abuse Neither Chevron nor Exxon are really "big oil" - they are not in the top 10 oil companies.
SpankyMI Champion Author Kalamazoo Posts:2,713 Points:760,255 Joined:Jan 2011	Message Posted: Apr 29, 2012 8:47:43 PM Ignore SpankyMI Report Abuse More good news.
belladog Champion Author Mobile Posts:2,592 Points:937,055 Joined:May 2007	Message Posted: Apr 29, 2012 8:45:47 PM Ignore belladog Report Abuse good for all 401k's that have chevron stock investments
V8power Champion Author Pennsylvania Posts:2,821 Points:1,380,970 Joined:Oct 2005	Message Posted: Apr 29, 2012 8:45:33 PM Ignore V8power Report Abuse Great, more profits.
RobertSpratt Champion Author Virginia Beach Posts:4,840 Points:1,046,740 Joined:Jul 2007	Message Posted: Apr 29, 2012 8:43:46 PM Ignore RobertSpratt Report Abuse Good
gws2980 Champion Author Philadelphia Posts:2,186 Points:502,090 Joined:Oct 2010	Message Posted: Apr 29, 2012 8:38:35 PM Ignore gws2980 Report Abuse good deal
f4driver Champion Author Maine Posts:2,520 Points:684,320 Joined:Aug 2007	Message Posted: Apr 29, 2012 8:38:06 PM Ignore f4driver Report Abuse Do we really care?
camel1 Champion Author Minnesota Posts:8,270 Points:2,266,615 Joined:Jul 2006	Message Posted: Apr 29, 2012 8:37:00 PM Ignore camel1 Report Abuse good for them
tauro514 Champion Author Connecticut Posts:3,140 Points:1,801,840 Joined:Oct 2006	Message Posted: Apr 29, 2012 8:33:52 PM Ignore tauro514 Report Abuse Good for them.
feistyfella All-Star Author Georgia Posts:881 Points:194,595 Joined:Jun 2010	Message Posted: Apr 29, 2012 8:32:20 PM Ignore feistyfella Report Abuse Nice!
Mowerman08 Champion Author Milwaukee Posts:4,760 Points:1,217,995 Joined:Aug 2008	Message Posted: Apr 29, 2012 8:27:59 PM Ignore Mowerman08 Report Abuse Crude inventory high, gas prices high, speculators keep crude prices high, refining utilization below 90%, world fuel demand high keeps U.S. prices high, refiners can make more money by exporting fuel, so why lower the price for anyone?
itzagasgasgas1 Champion Author Cincinnati Posts:3,979 Points:1,600,470 Joined:Aug 2005	Message Posted: Apr 29, 2012 8:27:24 PM Ignore itzagasgasgas1 Report Abuse Don't feel sorry for oil companies that are reported percentages of falling profits. They are still making ENORMOUS profits, just not record-setting profits.
TelsaOR Champion Author Oregon Posts:3,566 Points:733,965 Joined:Jan 2011	Message Posted: Apr 29, 2012 8:25:40 PM Ignore TelsaOR Report Abuse Time will tell.
fedupMN Champion Author Twin Cities Posts:2,959 Points:574,430 Joined:Mar 2011	Message Posted: Apr 29, 2012 8:25:29 PM Ignore fedupMN Report Abuse Funny, that is exactly the same time frame when the price of oil was increasing almost on a daily basis..... anyone see the irony of this???