Chevron posts sharp rise in profit ahead of Wheatstone start-up

first_imgChevron has reported a net income of $1,45 billion for the second quarter of the year, a substantial leap from a loss of $1,47 billion a year ago.The result was boosted by an $853 million contribution from the upstream segment, which in 2Q 2016 recorded a loss of $2,46 billion.“Second quarter results improved substantially from a year ago and year-to-date net cash flow is positive,” said Chairman and CEO John Watson. “We’re delivering higher production with lower capital and operating expenditures.”“Oil and gas production was up 10 percent in the second quarter from a year ago,” Watson added. “Our Gorgon LNG Project in Australia closed the quarter running above nameplate capacity and we had record production from our shale and tight resource in the Permian Basin. First production from the Wheatstone LNG Project is expected next month.”The Wheatstone LNG project, labeled as one of Australia’s largest resource projects, will develop the Wheatstone, Iago, Julimar and Brunello offshore gas fields in Australia. The Wheatstone and nearby Iago natural gas resources are located about 200km (124 miles) north of Onslow off Western Australia’s Pilbara coast. The Julimar and Brunello fields will tie back to the central processing platform.Chevron’s partner in the project Woodside earlier this month said final commissioning of onshore LNG Train 1 was “well advanced and nearing completion,” and the start-up was “imminent,” but the company did not say it was going to be in August, as confirmed today by the Chevron CEO.Offshore Energy Today Stafflast_img read more

Police search for man who held FL Chick-fil-A at gunpoint

first_imgPolice are  investigating an armed robbery at a Sarasota Chick Fil A.The incident occurred Friday evening around 10 p.m., according to police.The man reportedly entered the restaurant with a semi-automatic silver/chrome pistol and held employees at gunpoint while demanding money.No employees or customers were hurt.He is described as a white man in his late 20’s early 30’s, 6 feet tall with a slim built, slight facial hair, wearing a dark colored jacket, dark colored pants, black cap with the Superman logo on the front.No other information is available this time.last_img

Tired but full of Positive Energy: Dragons Arrived in Vienna

first_imgNational Football Team of BiH arrived in Vienna, where tomorrow they will play a friendly match with the selection of Austria. They were welcomed by the fans.After a two-hour bus trip from Andorra to Barcelona, Dragons boarded the charter flight to Vienna, which lasted for more than two hours.Fairly tired of traveling, they went to the hotel, after which they will do an easier training.Visibly in the mood after last night’s win against Andorra, the first in qualifying for Euro 2016, the Dragons have announced the relentless battle at the Ernst Happel on Tuesday.(Source: klix.ba)last_img