SOURCE: Industrial Info Resources

Industrial Info Resources

February 01, 2010 05:15 ET

Chevron Takes Hit in 2009 After Worldwide Decline in Demand, an Industrial Info News Alert

SUGAR LAND, TX--(Marketwire - February 1, 2010) - Researched by Industrial Info Resources (Sugar Land, Texas) -- Oil and gas titan Chevron Corporation (NYSE:CVX) (San Ramon, California) reported lower earnings for fourth-quarter and full year 2009, as a weak global economy resulted in lower prices, weak demand and excess supply worldwide, in particular a decline in refined product sales margins. Net income was $3.07 billion for the fourth quarter, a 37.3% drop year-over-year, and $10.48 billion for the full year, a 56.2% decrease from 2008.

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