Chevron: ready for the rebound
Having weathered the downturn in impressive fashion, Chevron is well placed to take advantage of any Iran supply shock
Chevron has performed well of late. The US oil and gas giant posted earnings of $3.4bn for Q2 2018, a marked improvement on the $1.5bn the company reported in the same period last year. Its impressive financials are the result of "higher crude oil prices, strong operations and higher production", according to chief executive Michael Wirth. However, despite Chevron's earnings more than doubling over the past 12 months its performance missed Wall Street expectations. According to S&P Capital IQ, consensus second-quarter earnings for Chevron were estimated at $2.07 per share, only to come in at $1.78, 16% lower than most analysts were predicting. It's worth noting that Chevron isn't alone,
Also in this section
9 April 2026
The April 2026 issue of Petroleum Economist is out now!
9 April 2026
Offshore operators are working through an FID backlog as the rig market consolidates, helped by improving project economics and a renewed security drive
2 April 2026
Alongside a rapid continued build-out of renewables, China’s latest five-year plan stresses the value of domestic hydrocarbon production for energy security and calls for increased Russian gas imports
2 April 2026
The government is taking important steps to revive domestic production, lift investment and benefit from the geopolitical crisis even if more needs to be done in the longer term
