Not Logged In Log In   Sign Up   Points Leaders
Follow Us    3:01 AM

GasBuddy News Article

57
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
Category: Daily News Article Discussions > Topics Add to favorite topics  
Author Topic: Chevron sticks with oil. And it pays off. Back to Topics
REPLIES (newest first) Post a Reply
Profile Pic
honda0105
Champion Author Tallahassee

Posts:22,223
Points:2,066,740
Joined:Nov 2008
Message Posted: May 3, 2012 5:53:11 AM

time will tell.
Profile Pic
DanMtz
Champion Author Oakland

Posts:5,523
Points:1,700,340
Joined:Oct 2009
Message Posted: Apr 30, 2012 8:11:17 PM

For now it's paying off.
Profile Pic
kgbellman
Champion Author Ann Arbor

Posts:4,878
Points:1,189,030
Joined:Mar 2011
Message Posted: Apr 30, 2012 1:50:04 AM

Today's heros, tomorrow's zeros
Profile Pic
roadrunnerMO
Champion Author Kansas

Posts:10,595
Points:2,157,315
Joined:Jul 2008
Message Posted: Apr 30, 2012 1:06:20 AM

Good when oil companies diversify into other energy sources.
Profile Pic
nwsynthetics
Champion Author Oregon

Posts:1,128
Points:488,610
Joined:Dec 2011
Message Posted: Apr 30, 2012 1:04:24 AM

Ill start driving my forklift
Profile Pic
Ron77095
Champion Author Houston

Posts:5,225
Points:1,060,775
Joined:Sep 2011
Message Posted: Apr 30, 2012 1:03:47 AM

ok.
Profile Pic
heartbroken2010
Champion Author Ottawa

Posts:6,495
Points:1,353,610
Joined:Aug 2010
Message Posted: Apr 30, 2012 1:03:04 AM

Hmm.
Profile Pic
tampacrvdriver
Champion Author Tampa

Posts:4,263
Points:1,092,400
Joined:May 2011
Message Posted: Apr 30, 2012 1:02:42 AM

Oil is a beast.
Profile Pic
must87searcher
Champion Author Maryland

Posts:11,101
Points:2,235,550
Joined:Apr 2008
Message Posted: Apr 30, 2012 12:57:27 AM

If the resource is available, and is widely used (which may be under question), the go for it.
Profile Pic
downstream
Champion Author Little Rock

Posts:1,837
Points:1,808,630
Joined:Mar 2006
Message Posted: Apr 30, 2012 12:56:45 AM

ok
Profile Pic
bobdec
Champion Author Miami

Posts:10,961
Points:2,200,420
Joined:May 2008
Message Posted: Apr 30, 2012 12:56:12 AM

Lets get natural gas cars
Profile Pic
BWJM
Champion Author KW

Posts:1,113
Points:303,780
Joined:Oct 2011
Message Posted: Apr 30, 2012 12:54:23 AM

ok
Profile Pic
BobD2009
Champion Author Long Island

Posts:9,116
Points:1,682,210
Joined:Apr 2009
Message Posted: Apr 30, 2012 12:53:22 AM

I guess Chevron knows how to make a profit. You can't say that with Solyndra.
Profile Pic
granitestater
Champion Author New Hampshire

Posts:11,374
Points:1,877,005
Joined:Oct 2008
Message Posted: Apr 30, 2012 12:51:50 AM

Time to convert to nat gas...
Profile Pic
miiike572
All-Star Author Phoenix

Posts:798
Points:554,990
Joined:Apr 2009
Message Posted: Apr 30, 2012 12:50:37 AM

Chevron is very proud of their product...look at the price of it.
Profile Pic
TBONE3
Champion Author Pennsylvania

Posts:10,715
Points:2,391,700
Joined:Mar 2005
Message Posted: Apr 30, 2012 12:46:19 AM

As they say, do not put all your eggs in one container!
Profile Pic
lunarrv15
Champion Author Cincinnati

Posts:18,327
Points:2,838,110
Joined:Dec 2005
Message Posted: Apr 30, 2012 12:43:37 AM

okay....interesting
thanks for posting
Profile Pic
abacus44
Champion Author Toms River

Posts:5,491
Points:1,195,390
Joined:Jan 2011
Message Posted: Apr 30, 2012 12:41:42 AM

Seems like a good bet so far but perhaps they should be hedging their bets for the future.
Profile Pic
GryphonX
Champion Author Nevada

Posts:6,881
Points:1,943,275
Joined:Nov 2007
Message Posted: Apr 30, 2012 12:40:38 AM

Maybe short term ok...but I think diversification will pay off in the long run.
Profile Pic
papa56NC
All-Star Author North Carolina

Posts:725
Points:142,760
Joined:Apr 2012
Message Posted: Apr 30, 2012 12:40:23 AM

Do it chevron!!!
Profile Pic
umitb
Champion Author Indianapolis

Posts:5,493
Points:1,215,275
Joined:Apr 2010
Message Posted: Apr 30, 2012 12:39:33 AM

ok
Profile Pic
miser709
Champion Author Grand Rapids

Posts:1,278
Points:1,484,700
Joined:Mar 2004
Message Posted: Apr 30, 2012 12:39:19 AM

Obama again?
Profile Pic
TIGERPAW46
Champion Author Florida

Posts:9,296
Points:1,798,435
Joined:Mar 2004
Message Posted: Apr 30, 2012 12:37:02 AM

The Shale reservoirs can be used to pump Shale oil in lieu of the NG.
Profile Pic
judgemobile
Champion Author Ohio

Posts:9,739
Points:2,903,035
Joined:Nov 2005
Message Posted: Apr 30, 2012 12:37:00 AM

they would be upset if they were in Nat Gas and prices went down--smaller (still billions) bonuses for the brass.
Profile Pic
KrsnaDragon
Champion Author Montreal

Posts:4,537
Points:984,290
Joined:Nov 2011
Message Posted: Apr 30, 2012 12:35:11 AM

Good for Chevron.
Profile Pic
Bezalel
Champion Author Oklahoma City

Posts:14,283
Points:2,745,525
Joined:Oct 2006
Message Posted: Apr 30, 2012 12:34:57 AM

What about long term?
Profile Pic
min_fuel
Champion Author Philadelphia

Posts:1,958
Points:742,360
Joined:Jan 2008
Message Posted: Apr 30, 2012 12:34:43 AM

May come back to bite them. We need more energy to drive the economy once Obama is sent back home to Chicago.
Profile Pic
bbigred
Veteran Author Lansing

Posts:462
Points:314,255
Joined:May 2006
Message Posted: Apr 30, 2012 12:33:25 AM

I'm going to stick with "no oil"
Profile Pic
THZebra
Champion Author Indiana

Posts:2,963
Points:878,055
Joined:Nov 2008
Message Posted: Apr 30, 2012 12:28:53 AM

Thank God Chevron is doing well. I am so proud of them.

As for Exxon-Mobil and Phillips 66, I am worried for them. Hope they recover okay. OMG..I know I will have bad dreams tonight. All I can do is remember them in my prayers.

Maybe when my Phillips credit card statement comes this month I can slip them a few extra bucks to help out.

[Edited by: THZebra at 4/30/2012 12:30:32 AM EST]
Profile Pic
CatMan623
Champion Author Houston

Posts:20,584
Points:2,796,170
Joined:Aug 2006
Message Posted: Apr 30, 2012 12:27:52 AM

"Peak oil", anyone, to go with your "climate change"...???
Profile Pic
Chris46
Champion Author Dayton

Posts:36,376
Points:2,529,320
Joined:Sep 2005
Message Posted: Apr 30, 2012 12:26:40 AM

A drop in the bucket for Exxon Mobile.
Profile Pic
naiiawah
Champion Author Boise

Posts:4,306
Points:1,129,305
Joined:Mar 2011
Message Posted: Apr 30, 2012 12:23:30 AM

Does an Oil company ever come up on the short end of the stick?
Profile Pic
METEOR49
Champion Author Ontario

Posts:4,346
Points:912,060
Joined:Apr 2011
Message Posted: Apr 30, 2012 12:22:59 AM

if you're profits are 25 billion and they drop by 11% does that mean we have to have a tag sale for exxon ?
Profile Pic
Rooster922
Champion Author Wilmington

Posts:4,098
Points:955,030
Joined:Jan 2009
Message Posted: Apr 30, 2012 12:20:51 AM

Okay
Profile Pic
danreino
Champion Author Twin Cities

Posts:9,828
Points:1,838,480
Joined:Mar 2008
Message Posted: Apr 30, 2012 12:20:48 AM

Natural Gas will be slow to catch on since the big semi trucks last soooo many years and are very expensive to replace.
Profile Pic
tedjm1
Champion Author New York

Posts:5,609
Points:801,050
Joined:Dec 2006
Message Posted: Apr 30, 2012 12:19:26 AM

Too much thought for the profit side. Thought should be given to aid our country in its attempt to grt most everyone working with decent jobs.
Profile Pic
TheeRedRam
Champion Author Hartford

Posts:5,237
Points:1,124,470
Joined:Jun 2011
Message Posted: Apr 30, 2012 12:18:55 AM

Hummmmm
Profile Pic
frostyWV
Champion Author West Virginia

Posts:2,340
Points:521,130
Joined:May 2011
Message Posted: Apr 30, 2012 12:18:13 AM

until natural gas prices go up.
Profile Pic
crreed1
Champion Author West Virginia

Posts:4,006
Points:2,959,470
Joined:May 2005
Message Posted: Apr 30, 2012 12:17:28 AM

ok
Profile Pic
Rednix
Champion Author Miami

Posts:8,225
Points:1,727,035
Joined:Jul 2009
Message Posted: Apr 30, 2012 12:17:09 AM

That may be ok for this quarter but what about long term?
Profile Pic
Bigwaynef
Champion Author South Carolina

Posts:14,286
Points:2,537,295
Joined:Dec 2006
Message Posted: Apr 30, 2012 12:14:48 AM

Yeah Buddy and I have plenty of natural gas...
Profile Pic
regout
Champion Author Quebec

Posts:5,085
Points:1,283,955
Joined:May 2010
Message Posted: Apr 30, 2012 12:14:31 AM

The riches makes more money.
Profile Pic
HA4CNN
Champion Author Toronto

Posts:7,568
Points:1,959,180
Joined:Dec 2006
Message Posted: Apr 30, 2012 12:13:56 AM

Now the opposite will be true when the price of natural gas rises substantially.
Profile Pic
KnoxGasPriceSpy
Champion Author Knoxville

Posts:148,955
Points:1,377,670
Joined:Oct 2010
Message Posted: Apr 30, 2012 12:13:52 AM

it's a gamble...
Profile Pic
Zonk
Champion Author Michigan

Posts:8,616
Points:2,551,840
Joined:Oct 2005
Message Posted: Apr 30, 2012 12:13:37 AM

Okay for now but, natural gas is here to stay.
Profile Pic
Rageagainsttm
Champion Author Tampa

Posts:10,337
Points:2,345,510
Joined:Jul 2007
Message Posted: Apr 30, 2012 12:12:53 AM

right
Profile Pic
gmcgas
Champion Author Atlanta

Posts:8,186
Points:2,171,065
Joined:Mar 2004
Message Posted: Apr 30, 2012 12:12:37 AM

big
Profile Pic
yakstar
Champion Author Montreal

Posts:4,380
Points:918,640
Joined:Jan 2012
Message Posted: Apr 30, 2012 12:10:16 AM

zzzzzzzzzzzzzzzzzzzz
Profile Pic
jetskijerry
Champion Author North Carolina

Posts:6,004
Points:1,222,160
Joined:Mar 2011
Message Posted: Apr 30, 2012 12:09:22 AM

& I go to work.
Profile Pic
jetskijerry
Champion Author North Carolina

Posts:6,004
Points:1,222,160
Joined:Mar 2011
Message Posted: Apr 30, 2012 12:09:01 AM

the rich get richer
Post a reply Back to Topics