Global Oil & Gas: Chevron doubles earnings, Exxon’s up 18%

Oil Al-mozambiqueminingpost.com7Chevron (NYSE: CVX) reported earnings of $3.8 billion for the second quarter, more than twice as much as a year earlier.

Like some of the others, earnings still came in a bit under expectations – shares were down 2 percent on the news. Meanwhile, ExxonMobil (NYSE: XOM) fell 4 percent in early trading on Friday after undershooting expectations. The oil major said that production fell 7 percent in the second quarter, year-on-year, even as Permian and Bakken production jumped. Exxon earned just under $4 billion for the quarter, up 18 percent from a year earlier.

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