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Chevron profit rises 26.3% on higher output

Chevron profit rises 26.3% on higher output
FILE PHOTO: The logo of Chevron is seen at the company's office in Caracas, Venezuela April 25, 2018. REUTERS/Marco Bello/File Photo -
Marco Bello(Reuters)
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(Reuters) – Chevron Corp <CVX.N> reported a 26.3% rise in quarterly profit on Friday, as higher production more than offset lower crude oil and natural gas prices and a rise in expenses.

The No. 2 U.S. oil and natural gas producer’s daily production of oil and gas rose 9.1% to 3.08 million barrels.

Net income attributable to the company rose to $4.31 billion, or $2.27 per share, in the second quarter ended June 30, from $3.41 billion, or $1.78 per share. []

(Reporting by Arathy S Nair in Bengaluru; Editing by Shailesh Kuber)

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