Is Chevron Losing Money? — Market Mad House
Published in
6 min readDec 16, 2019
The Chevron Corporation (NYSE: CVX) is doing something extraordinary for an oil company. Chevron admits it will write off $11 billion worth of oil and gas assets in a press release.
Essentially, Chevron admits it will never make money from $11 billion worth of shale gas and other resources. Most of those assets comprise natural gas and oil in Appalachia; and other locations in the US, The Oil Price reports.
The write off is large because Chevron reported a quarterly gross profit of $15.175 billion on 30 September 2019. In…
