Reported 2 months ago
Chevron reported disappointing second-quarter earnings of $4.4 billion, missing Wall Street estimates due to weak refining margins and declining natural gas prices, causing a 1.5% drop in its stock. The company's oil output is expected to decline, and it is relocating its headquarters from California to Houston amid ongoing regulatory challenges. Meanwhile, its proposed $53 billion acquisition of Hess is delayed due to a pending arbitration with Exxon Mobil.
Source: YAHOO