OREANDA-NEWS. November 09, 2012. Chevron Corporation (NYSE: CVX) reported earnings of USD 5.3 billion (USD 2.69 per share – diluted) for the third quarter 2012, compared with USD 7.8 billion (USD 3.92 per share – diluted) in the 2011 third quarter, reported the press-centre of Chevron. 

“This quarter’s earnings were solid, but off from their near record level of a year ago,” said Chairman and CEO John Watson. “Crude oil prices were down and we had a heavy period of planned oil field maintenance which temporarily reduced oil and gas production in several locations. Foreign currency movements also hurt our results this quarter, while they benefited the year-ago period.”

“We continue to progress our upstream projects,” Watson added. “Gorgon in Australia and Bigfoot and Jack/St. Malo in the deepwater Gulf of Mexico are all over 50 percent complete. The Wheatstone Project in Australia is also off to a good start. Each of these projects is expected to deliver significant future value for our shareholders.”

CAPITAL AND EXPLORATORY EXPENDITURES
Capital and exploratory expenditures in the first nine months of 2012 were USD 22.7 billion, compared with USD 20.8 billion in the corresponding 2011 period. The amounts included approximately USD 1.4 billion in 2012 and USD 1.0 billion in 2011 for the company’s share of expenditures by affiliates, which did not require cash outlays by the company. Expenditures for upstream represented 90 percent of the companywide total in the first nine months of 2012.

Chevron will post selected fourth quarter 2012 interim performance data for the company and industry on its Web site on Thursday, January 10, 2013, at 2:00 p.m. PST. Interested parties may view this interim data at www.chevron.com under the "Investors" section.