This Day On The Street
Continue to site right-arrow
This account is pending registration confirmation. Please click on the link within the confirmation email previously sent you to complete registration.
Need a new registration confirmation email? Click here
Stocks Under $10 with 50-100% upside potential - 14 days FREE!

Chevron Issues Interim Update For Third Quarter 2012

Stocks in this article: CVX

International upstream earnings in the third quarter are expected to include a gain of approximately $600 million from the previously announced sale of an equity interest in the Wheatstone LNG project.

U.S. crude oil realizations decreased $8.47, to $95.44 per barrel during the first two months of the third quarter, consistent with the typical monthly lag on pricing in the Gulf of Mexico. International liquids realizations decreased $2.35, to $96.86 per barrel. U.S. natural gas realizations increased $0.50 to $2.67 per thousand cubic feet, while international natural gas realizations decreased $0.11 to $5.99 per thousand cubic feet during the first two months of the third quarter.


The table that follows includes industry benchmark indicators for refining and marketing margins. Actual margins realized by the company will differ due to crude and product mix effects, planned and unplanned shutdown activity and other company-specific and operational factors.

    2011   2012
3Q   4Q 1Q   2Q   3Q thru Aug   3Q thru Sep



Market Indicators:


Refining Margins

U.S. West Coast – Blended 5-3-1-1 14.31 14.45 19.64 21.32 22.55 24.37
U.S. Gulf Coast – Maya 5-3-1-1 24.45 11.84 20.56 24.89 27.94 28.19
Singapore – Dubai 3-1-1-1 10.39 8.77 9.73 9.30 11.10 10.77

Marketing Margins

U.S. West – Weighted DTW to Spot 5.07 5.39 4.16 10.14 4.85 5.74
U.S. East – Houston Mogas Rack to Spot 4.46 4.35 3.90 5.10 3.46 3.99
Asia-Pacific / Middle East / Africa 6.19 5.65 4.75 6.98 6.32 n/a

Actual Volumes:

U.S. Refinery Input MBD 897 763 926 928 836 n/a
Int’l Refinery Input 3 MBD 882 805 779 870 912 n/a
U.S. Branded Mogas Sales   MBD   529   515   505   521   526   n/a

3 As of June 2012, Star Petroleum Refining Company crude-input volumes are reported on a consolidated basis. Prior to June 2012, crude-input volumes are reported on a net interest basis.


For the full third quarter, U.S. and international refining margins increased compared to second quarter 2012, while U.S. marketing margins decreased sharply over the same period, particularly for the U.S. West Coast.

2 of 4

Select the service that is right for you!

Action Alerts PLUS
Try it NOW

Jim Cramer and Stephanie Link actively manage a real portfolio and reveal their money management tactics while giving advanced notice before every trade.

Product Features:
  • $2.5+ million portfolio
  • Large-cap and dividend focus
  • Intraday trade alerts from Cramer
  • Weekly roundups
TheStreet Quant Ratings
Try it NOW
Only $49.95/yr

Access the tool that DOMINATES the Russell 2000 and the S&P 500.

Product Features:
  • Buy, hold, or sell recommendations for over 4,300 stocks
  • Unlimited research reports on your favorite stocks
  • A custom stock screener
  • Upgrade/downgrade alerts
Stocks Under $10
Try it NOW

David Peltier, uncovers low dollar stocks with extraordinary upside potential that are flying under Wall Street's radar.

Product Features:
  • Model portfolio
  • Stocks trading below $10
  • Intraday trade alerts
  • Weekly roundups
Dividend Stock Advisor
Try it NOW

Jim Cramer's protege, David Peltier, identifies the best of breed dividend stocks that will pay a reliable AND significant income stream.

Product Features:
  • Diversified model portfolio of dividend stocks
  • Alerts when market news affect the portfolio
  • Bi-weekly updates with exact steps to take - BUY, HOLD, SELL
Real Money Pro
Try it NOW

All of Real Money, plus 15 more of Wall Street's sharpest minds delivering actionable trading ideas, a comprehensive look at the market, and fundamental and technical analysis.

Product Features:
  • Real Money + Doug Kass Plus 15 more Wall Street Pros
  • Intraday commentary & news
  • Ultra-actionable trading ideas
Options Profits
Try it NOW

Our options trading pros provide daily market commentary and over 100 monthly option trading ideas and strategies to help you become a well-seasoned trader.

Product Features:
  • 100+ monthly options trading ideas
  • Actionable options commentary & news
  • Real-time trading community
  • Options TV
To begin commenting right away, you can log in below using your Disqus, Facebook, Twitter, OpenID or Yahoo login credentials. Alternatively, you can post a comment as a "guest" just by entering an email address. Your use of the commenting tool is subject to multiple terms of service/use and privacy policies - see here for more details.
Submit an article to us!


DOW 18,030.21 +6.04 0.03%
S&P 500 2,081.88 -0.29 -0.01%
NASDAQ 4,773.4720 +8.0480 0.17%

Brokerage Partners

Rates from

  • Mortgage
  • Credit Cards
  • Auto

Free Newsletters from TheStreet

My Subscriptions:

After the Bell

Before the Bell

Booyah! Newsletter

Midday Bell

TheStreet Top 10 Stories

Winners & Losers

Register for Newsletters
Top Rated Stocks Top Rated Funds Top Rated ETFs