Chevron's Q2 Profit Hits $12B, Tengiz Output Surges to 320,000 bpd
CVX sits 35% above its 52-week low of $146.49.
Summary
Chevron posted adjusted Q2 earnings of $12B ($6.06 EPS), crushing the $5.56 consensus and marking its best quarterly profit in years. Revenue jumped 56% YoY to $70.1B, with record U.S. production of 2.08M bbl/d. The Tengiz field's third-generation plant has ramped to 320,000 bpd nameplate capacity, a major milestone that boosts Chevron's low-cost output. Meanwhile, the company is reshaping its downstream portfolio, having sold its Hong Kong fuels unit and planning to divest its 50% stake in Singapore Refining Company by 2027. Regulatory clouds are gathering, with the DOJ and FTC monitoring fuel markets and President Trump singling out Chevron in a gasoline price probe. Operational updates are positive: the Black Sea terminal resumed loadings, and two CPC buoys are back online. CEO Wirth sees steady long-term distillate demand, which could support product prices into Q3. This follows the blowout Q2 report from July 31, adding fresh details on capacity, divestments, and regulatory risk.
At the time of this announcement, CVX was trading at $198.45 on NYSE in the Energy & Transportation sector, with a market capitalization of approximately $392B. The 52-week trading range was $146.49 to $214.71. This news item was assessed with positive market sentiment and an importance score of 8 out of 10. Source: Wiseek News.