Natural gas
Chevron Corporation reported first quarter net income of $459 million, a significant 18 percent increase from $388 million in the first quarter of 1994. Chairman and CEO Ken Derr attributed the strong performance to strong earnings in major business segments, including chemicals and international upstream operations, despite a net loss
Petroleum industry
Higher gasoline prices and relatively low crude prices in the Midwest have created a perfect storm for refiners in the region, resulting in high profit margins. Strong demand, pipeline disruptions, and the approach of maintenance work at refineries have kept gasoline prices relatively high, leaving marketers with anemic profit margins.
Petroleum industry
Dutch trading company Vitol S.A. has reached an agreement to purchase the Come-by-Chance refinery in Canada from Newfoundland Processing Ltd., marking the end of a nearly two-year negotiation process. The sale has been finalized, with the transfer of ownership set to occur on the agreed date. The refinery, which
