October 27, 2006

Chevron 3Q Profit Soars to 5 Billion

A $5 billion third-quarter profit from Chevron Corp. lifts the cumulative results of the five major oil companies that reported July through September earnings this week to more than $31.5 billion.
The industry benefited from oil prices that averaged more than $70 a barrel, as well as its ability to earn more money from gasoline production and sales. Chevron's profits grew the fastest among its peer group, rising a whopping 40 percent from a year ago.
Washington Post AP Photo: Paul Sakuma