First Quarter Of 2014, Stock Crisis Faced By Chevron

An American multinational energy corporation named as Chevron Corporation is active in more than 180 countries, while it’s headquarter is in California U.S. its services include exploration, refining, production and marketing of oil, gas and geothermal energy. It also offers manufacturing and sales of transport, chemicals and power generations. The company sells products like petrochemicals, fuel and lubricants. West coast of North America, U.S, Australia and South Africa are the most significant areas operated by the company.

For the first quarter of 2014, Chevron stock price reported total revenue of 53.3 billion dollar. This revenue is $3.5 billion less than the previous year. According to Chevron stock news, the company’s stock price fell up to 27% in this first quarter that makes a total amount of 4.5 billion dollar that makes $2.36 per share. The company says that it was because of low price crude oil and low volume.

Around three hundred barrels of oil were produced by the company on daily basis, so that total amount of barrel was 30,000 less than the previous stocks. The company believes that the offset by normal field declines and the unplanned weather. Chevron did not provide with any guidance for the rest of the upcoming year, rather just highlighted some new projects in Nigeria and United States. Chevron stock graphs show an expected 20% increase in the company’s stock rate up till year 2017. To cover-up the crisis the company is also working on a new project in Golf of Mexico.