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Chevron posts $1.5 b loss In Q2

AAP logoAAP 29/07/2016

US oil supermajor Chevron Corp has posted a net loss of $US1.5 billion ($A2.00 billion), or $US0.78 per share, for the second quarter, compared with earnings of $US571 million for the same period in 2015.

"The second-quarter results reflected lower oil prices and our ongoing adjustment to a lower oil price world," chairman and CEO John Watson said.

The company posted $US29.3 billion in total revenues and other income for the three months ended June 30, down from $US40.4 billion in the same period of 2015.

The San Ramon, California-based company said that for the first six months of the year it posted a net loss of $US2.2 billion, compared with earnings of $3.1 billion in January-June 2015.

Chevron's shares ended up 0.68 per cent at $US102.48 on Friday.

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