Thndr Claps » U.S. Claps » Energy 🔋 » Chevron on cloud nine after Q2 report⭐️
The ClapChevron posted its biggest earnings ever for Q2-2022. The DeetsAccording to Reuters, Chevron posted a net profit of $11.6 billion, more than triple the $3.1 billion in the same period last year. Chevron’s CFO believes the company “can do it all, grow the dividend to investors, grow traditional and new energy, pay down debt, and buy back shares.”Chevron increased its annual share repurchase guidance range to $15 billion from $10 billion, following Exxon. Profit DriversFuel prices have increased due to a combination of pandemic closures, sanctions on Russia, and export quotas in China that created a shortage.Energy demand rebounded sharply over the last 12 months, & high prices for both fuel and natural gas are affecting consumers worldwide.
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