Oil price drags Chevron into deficit in 2016

Chevron came out of 2016 in better shape than it did 2015. However, the company could not escape an overall deficit last year. "We are well positioned to improve earnings," says the chairman and CEO.

Things went from bad to worse for US-based oil company Chevron in 2016.

Low oil and gas prices dragged the company down into a total annual deficit of USD 497 million, relative to a net profit of USD 4.6 billion in 2015, according to a financial statement from Chevron.

Read the whole article

Get 14 days free access.
No credit card required.

Get full access for you and your coworkers.

Start a free company trial today

More from EnergyWatch

Further reading

Related articles

Latest News

See all jobs