15:25 - 6.02.2020

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February 6, Fineko/abc.az. Oil company Chevron has unveiled its financial report for the last quarter of 2019. The report shows the periods when the Company suffered the most damage for the last 10 years.

ABC.AZ reports with reference to Chevron that the cause of that was the writing-off of shale gas production sites in the Appalachian region.

The energy company reported the Q4 net profit of $3.73 bn and transfer of lump-sum expenses of $10.4 bn related to the shale gas project and projects in the deep waters of the Gulf of Mexico.

The net loss was calculated at the level of $3.51 per share. Chevron's revenues totaled $36 bn (by 15% less against the same quarter of 2018).

Chevron’s management reported that Company's daily oil production averages 3 million barrels. After the report was announced, the price of Company's shares fell by 4%.