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Empresas y finanzas

Chevron sees second-quarter earnings rise vs first quarter on refining strength


    (Reuters) Chevron Corp , the second-largest U.S. oil company, said on Wednesday its second-quarter profits would be higher than the previous quarter as improved refining margins and $200 million of asset sales offset the effects of lower oil prices.

    Shares of the company rose 25 cents in after-hours trading to $105.10.

    CHEVRON (CVX.NY)said its average U.S. oil and gas output rose to 665,000 barrels per day in April and May, compared with a daily average of 651,000 bpd for all of the first quarter.

    In total worldwide, Chevron produced the oil equivalent of nearly 2.62 million bpd in the first two months of the quarter, down from an average of 2.63 million in the first quarter and below its 2012 forecast of 2.68 million bpd.

    But in refining, Chevron said U.S. margins improved from the three months before, citing industry figures showing Gulf Coast margins rising by more than $4 per barrel to $24.89, while West Coast margins improved to $21.32, up from the previous quarter's 3-year high.

    (Reporting by Braden Reddall in San Francisco; editing by Gunna Dickson)