Chevron says downtime may hit Q4 output by 225,000 boepd (updated)
Today 12:23
UPDATE 1-Chevron says downtime may hit Q4 output by 225,000 boepd Adds earnings beat detail and shares in paragraphs 3 and 4
Oct 30 (Reuters) - US oil major Chevron CVX.N said on Friday that turnarounds and downtime were expected to reduce fourth-quarter upstream production by 175,000 to 225,000 barrels of oil equivalent per day (boepd).
The company also said planned fourth-quarter maintenance was expected to weigh on downstream earnings by $400 million to $500 million.
Chevron beat Wall Street expectations for third-quarter adjusted profit as refining margins rose amid the US-Israeli war on Iran and the Russia-Ukraine conflict.
Shares of the company rose 1.6% in premarket trading.
(Reporting by Pooja Menon in Bengaluru; Editing by Sriraj Kalluvila and Anil D'Silva)
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