NEWS ARCHIVE

Chevron posts historic loss

CHEVRON Corporation is starting to haemorrhage cash, admitting its credit rating could be at risk after swinging to a $US588 million ($A832.4 million) loss for the December 2015 quarter from earnings of $3.5 billion a year prior – its first quarterly loss since 2002.

Anthony Barich

CEO John Watson said the company's 2015 earnings were down significantly from 2014, blaming a nearly 50% year-on-year decline in oil prices. Accordingly, Chevron slashed operating expenses and capital...

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