Saturday, April 10, 2010

Chevron (NYSE:CVX) Refining Profits

Chevron Turning Profit at Refinery for Next Quarter

Chevron (NYSE:CVX) recently stated their refinery business has turned around and should turn a profit in the next quarter after a loss in the fourth quarter.

Margins in the refinery business of Chevron are given as the reason for the expected turnaround for the first quarter.

Analysts are looking for profit of $1.66 a share for the next quarter for Chevron, even with the $150 million charge from strong cost cutting.

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