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Chevron swings to quarterly loss on $10 billion in charges

An entrance sign at the Chevron refinery, located near the Houston Ship Channel, is seen in
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HOUSTON (Reuters) - Chevron Corp swung to a fourth-quarter loss on $10.4 billion in charges as it stepped up efforts to cull unprofitable assets amid weak oil and gas prices. The company, the second-largest U.S. oil producer, in December had warned it could take up to $11 billion in writedowns on properties that were no longer economic to produce oil and gas. The writedowns covered Appalachian..
Date Published: Jan 31, 2020
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