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Chevron reports 27% drop in profits for first quarter
April 27, 2019
Source: Reuters

Chevron reports 27% drop in profits for first quarter

Oil supermajor, Chevron yesterday released quarterly earnings, reporting a 27% drop in the profits for the first quarter. The US-based firm saw a fall of nearly 7% in the revenue, from $37.64 billion in 2018 to $35.2 billion this year. The plunge in the profits has been attributed to sink in crude oil prices and thinner margins in Chevron’s refining and chemicals businesses.

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