Chevron profit tumbles 90 per cent

by | July 31, 2015 3:19 pm

Second quarter profit at oil producer Chevron Corp, on Friday, tumbled 90 per cent, missing analysts’ expectations, amid weakness in oil prices. Chief Executive John Watson bluntly said the results were “weak” and that he was working to slash costs by renegotiating supply contracts. Earlier this week, he lay off two per cent of the…

This content is for Standard & Premium Digital Subscribers only.
Log In Subscribe