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


first_imgPaddy McBrearty looks like he is soaking up all the atmosphere of being on the cusp of an All-Ireland Final. The young GAA star didn’t look a bit sheepish at all about having his picture taken with a freshly dyed fan.But we know Paddy’s game.Many full-backs from Derry, Tyrone, Kerry, Cork and elsewhere have tried to pull the wool over Paddy’s eyes this championship.And the reply from the 19 year old has always been the same – “Ewe must be kidding.”  NOBODY WILL PULL THE WOOL OVER DONEGAL STAR PADDY’S EYES! was last modified: August 29th, 2012 by StephenShare this:Click to share on Facebook (Opens in new window)Click to share on Twitter (Opens in new window)Click to share on LinkedIn (Opens in new window)Click to share on Reddit (Opens in new window)Click to share on Pocket (Opens in new window)Click to share on Telegram (Opens in new window)Click to share on WhatsApp (Opens in new window)Click to share on Skype (Opens in new window)Click to print (Opens in new window) Tags:Paddy McBreartysheeplast_img read more