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Market Update : 
Chesapeake, Occidental, Valero, Record Net
Author: 123jump.com Staff
123jump.com
Last Update: 4:05 AM EST November 01 2005


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Last week, oil giants Exxon Mobil, Royal Dutch Sheel, BP, and Chevron, Murphy Oil, Amerada Hess, Kerr-McGee and Conoco Phillips reported a combined third quarter profit of $30 billion. Occidental, Chesapeake and Valero are latest energy sector companies to report a record quarter.

 
Revenue for the third quarter jumped to $23.3 billion from $14.33 billion a year ago.

The company owns and operates 18 refineries throughout the United States, Canada and the Caribbean with a combined throughput capacity of approximately 3.3 million barrels per day, making it the largest refiner in North America. The company operated app. 4,700 gas stations selling gasoline under various brand names.
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