Chevron reports second quarter loss of $8.3 billion
Chevron Corp. reported a loss of $8.3 billion for second-quarter 2020, compared with earnings of $4.3 billion in second-quarter 2019.

OGJ editors
Jul 31st, 2020
Chevron Corp. reported a loss of $8.3 billion for second-quarter 2020, compared with earnings of $4.3 billion in second-quarter 2019.

Included in the current quarter were impairments and other net charges of $1.8 billion primarily associated with downward revisions to the company's commodity price outlook, severance accruals of $780 million, and a gain of $310 million on the sale of Azerbaijan assets. The company also fully impaired its $2.6 billion investment in Venezuela due to uncertainty associated with the current operating environment and overall outlook. Foreign currency effects decreased earnings by $437 millio

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