Chevron expects boost with 2012 fourth quarter results

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 17 January 2013 23:59 GMT

US supermajor Chevron expects its 2012 fourth quarter earnings to improve on the rest of the year due to gains on asset deals, higher oil and gas prices and increased production.

The company said in an interim guidance statement that its US net oil equivalent production increased by 39,000 barrels per day during the first two months of the fourth quarter, reflecting recovery from the impacts of Hurricane Isaac and an increase in production associated with recently acquired acreage in the Permian basin in the US.

International net oil equivalent production during the first two months of the fourth quarter increased by 107,000bpd, mainly due to the absence of planned maintenance in Kazakhstan and the UK.

According to the company, international upstream earnings in…

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