(AOF) – Chevron reported a profit of $6.5 billion ($3.48 per diluted share) in the third quarter of 2023 compared to $11.2 billion ($5.78 per diluted share) in the third quarter of 2022 Over this period, over one year, its adjusted profit increased from $10.8 billion to $5.7 billion. Sales and other operating income in the third quarter were $51.9 billion, down from $63.5 billion a year ago. This decrease in sales is mainly due to the drop in prices of petroleum products.
Chevron’s board of directors declared a quarterly dividend of $1.51 per share, payable on December 11, 2023, to all holders of common stock.
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Biogas to green activities
Obtained through the decomposition of waste, it falls into the category of green energy. It is part of the strategy of many countries, particularly in Europe, to reduce their dependence on hydrocarbon imports. Oil groups have strong ambitions in the field, as two recent operations reveal. The British BP took over the American Archaea Energy for 4.1 billion dollars. Then, the Anglo-Dutch Shell announced the acquisition of the Danish Nature Energy for $2 billion. These operations display high valuation levels, highlighting the strong potential of the sector. TotalEnergies had already taken a stake in the American Clean Energy Fuels Corp in 2018, of which it now holds 19%. It recently joined forces with Veolia to recover biomethane from waste treatment facilities.