US energy major Chevron reported a net income of more than $11.6 billion for the second quarter of 2022, against a gain of almost $3 billion a year ago, according to the company's financial results released on Friday.
For the first half of this year, the company posted a $17.8 billion income compared to a $4.4 billion income in the first half of last year.
The company's revenue increased to $68.8 billion during the second quarter versus $37.6 billion during the same quarter last year. Its six-month revenue for 2022 amounted to $123.1 billion relative to $69.6 billion for the first six months of 2021.
“We more than doubled investment compared to last year to grow both traditional and new energy business lines,' Chevron's chairman and CEO, Michael Wirth, was quoted as saying in the statement.
“With Permian production more than 15 percent higher than a year ago and now as one of the leading renewable fuel producers in the United States, Chevron is increasing energy supplies to help meet the challenges facing global markets,' he added.
By Sibel Morrow
Anadolu Agency
energy@aa.com.tr