Chevron Corp on Friday posted a fourth-quarter loss as the oil major booked an impairment charge of $10.4 billion related largely to a deepwater Gulf of Mexico project, shale gas assets in Appalachia and the Kitmat LNG project in Canada. Net loss attributable to Chevron was $6.61 billion, or $3.51 per share, in the three months ended Dec. 31, compared with a profit of $3.73 billion, or $1.95 per share, a year earlier. Chevron’s net oil equivalent production was flat at 3.08 million barrels per day in the quarter, while average sales prices fell in the United States …read more
Source:: Yahoo Finance
