Chevron Profits Soar Past Forecasts

Zacks.com submits: Europe’s largest oil company Royal Dutch Shell plc (RDS.A) reported better-than-expected first quarter 2011 results, thanks to higher oil prices, better refining margins and the group’s robust operating performance.

Zacks.com submits: Chevron Corporation (CVX) -- the second largest U.S. oil company -- reported a jump in its second-quarter 2010 profits.

Zacks.com submits: ExxonMobil Corp.’s (XOM) fourth quarter earnings shot up 53% year over year, driven by higher commodity price realizations, improved refinery margins and solid chemical contributions.

Chevron Corp, after years of living in the shadow of Exxon Mobil Corp, has grown accustomed to having to punch above its weight, and it has now landed a notable blow against another big oil company. Though it ranks fourth in oil and gas reserves among the world’s non-government-controlled producers, the California major recently seized the number two spot from Royal Dutch Shell Plc in terms of stock market valuation.

Shrinking British oil company BP Plc announced quarterly profit down a fifth from a year ago, after it sold assets in preparation for what could be its biggest oil spill payout when the case comes to trial later this month. BP, the last of the big four western world oil companies to report fourth quarter figures, still beat expectations because of one-off taxes related to its divestments and liability payments, and its shares rose nearly 2%.

Kurt Wulff (McDep Associates) submits: An exciting reversal in the profit outlook for oil refining benefits buy-recommended major oil companies Royal Dutch Shell (RDS.A), ExxonMobil (XOM), Total (

Chevron Corp.’s “notably higher” quarterly profit bodes well for other international energy producers also grappling with oil-production and refining challenges.