U.S. drilling freeze affected Chevron's Q3 earnings

11/1/2010 | Sun Herald (Biloxi-Gulfport, Miss.), The

Chevron reported a slight drop in its third-quarter profit, citing expenses from the U.S. deepwater-drilling moratorium and large foreign-exchange charges. The oil major earned $3.77 billion, compared with $3.83 billion in the comparable quarter last year. Separately, John Watson, chairman and CEO of Chevron, said he is content with the U.S. government's decision to lift the moratorium that had halted much drilling in the Gulf of Mexico.

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Sun Herald (Biloxi-Gulfport, Miss.), The

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