Chevron Corp (CVX)

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"Chevron loses $1.47 billion in 2nd quarter" !!!

"Cheaper oil is leading to the lowest summer gasoline prices in years, and it is causing heartburn for oil companies and their shareholders.

Chevron Corp. of San Ramon reported a loss of $1.47 billion, in contrast to a profit of $571 million in last year’s second quarter.

Exxon’s second-quarter profit was down nearly 60 percent from a year earlier, to $1.7 billion, its smallest profit in nearly 17 years.

The reports from the two biggest U.S. oil companies followed weak second-quarter results from BP and Royal Dutch Shell."

http://www.sfgate.com/business/article/Chevron-loses-1-47-billion-in-2nd-quarter-8657647.php