Chevron cvx Q2 earnings report 2023
Cars drive past a logo sign at the entrance to Chevron’s corporate headquarters at Bishop Ranch office park in San Ramon, California.
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chevrons announced on Sunday that the company’s CFO, Pierre Breber, will retire next year and named longtime company veteran Eimear Bonner, Chevron Technical Center’s chief technology officer, to succeed him.
Separately, the company also announced that it had waived the mandatory retirement age for its CEO, Mike Wirth.
Bonner, 49, has been with Chevron for over 24 years. In her new role, Bonner will report to Chevron’s CEO.
The incoming CEO will assume the position from March 1, 2024, the company said in a statement.
The second largest US oil company also reported preliminary results for the second quarter. Net income fell to $5.8 billion, or $3.08 per share. It wasn’t immediately clear how that compared to analyst estimates.
However, Chevron cautioned that the financial results released on Sunday were not a comprehensive statement of second-quarter results and said the company will release its full second-quarter earnings results on Friday, July 28.
Chevron said it made a record $7.2 billion distribution to shareholders last quarter, including $2.8 billion in dividends and $4.4 billion in share buybacks.
Chevron also produced 772,000 barrels of oil equivalent in the Permian Basin, another record quarter. The Company stated that the performance of Permian wells in early 2023 at the Company’s operated facilities was in line with its full year guidance.
– Reuters contributed to this report.