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Energy

Chevron says profit rose last quarter

October 10, 2009|Times Wire Reports

Chevron Corp. expects its third-quarter earnings to be significantly higher than earnings from the second quarter on higher crude oil prices and gains from asset sales and tax items.

Chevron said it expected about $400 million in gains related to asset sales and tax items. The San Ramon, Calif., firm also said results from its downstream businesses, such as refining and marketing, are expected to be relatively flat.

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