Chevron Corporation (owned by Rockefeller clan) reported its biggest quarterly profit since 2013 for the third quarter and its highest free cash flow on record, as oil and gas prices rallied and demand rebounded.

Chevron booked earnings of $6.1 billion for the third quarter of 2021, compared with a loss of $207 million for the same quarter last year.

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Adjusted earnings jumped to $5.7 billion, or $2.96 per diluted share, for the third quarter of 2021, up from adjusted earnings of $340 million, or $0.18 per share, for Q3 2020.

The adjusted earnings per share of $2.96 this past quarter easily beat market expectations of $2.20 adjusted EPS. The free cash flow during the quarter was the best ever reported by the company, as the rest of the world is coming to a standstill thanks to Covid-19.

Sales and other operating revenues nearly doubled to $43 billion, compared to $24 billion in the year-ago period, while Chevron’s worldwide net oil-equivalent production rose to 3.03 million barrels per day in the third quarter of 2021, up by 7% from a year ago.

Oil Price.com / ABC Flash Point Business News 2021.

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Bob Barker
Bob Barker
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01-11-21 12:15

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Bimbo
Bimbo
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Reply to  Bob Barker
01-11-21 12:18

Making money on stolen oil, while massively polluting the world all over?

Bob Barker
Bob Barker
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01-11-21 12:15

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Domino
Domino
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Reply to  Bob Barker
01-11-21 12:19

Giving back a Christmas tree for the people to watch, what can be bought with their money?

Bob Barker
Bob Barker
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01-11-21 12:15