During quarter 2, 2015 profit of Chevron Corp significantly dropped – the company registered writing off the assets cost worth over $2 billion and the costs worth $670 million related to delay of the projects caused by low oil prices.
Total costs have been partially compensated by sale of the assets to the amount of $1.8 billion during quarter 2, 2015.
During quarter 2, 2015 Chevron profit dropped to $571 million or from $5.67 billion a year earlier.
The profit decreased by 30% to $40.36 billion.
The company has announced loss of $2.22 billion in the exploration and extraction business against profit of $5.26 billion a year earlier.
The profit of refining and marketing business increased up to $2.96 billion from $721 million a year earlier.
The company reported that reduction of crude oil prices has helped the refining business improving the profit margin, reported http://oilru.com.
