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Chevron had profitable earnings in Q1 2021 but remain cautious in capital allocation
By GlobalData 05 May 2021 (Last Updated May 5th, 2021 10:27)
Chevron earnings in Q1 2021 posted a profit of $1.4bn, still down from pre-pandemic levels a year ago of $3.6bn despite the recovery in energy prices.
Chevron has secured 500MW of renewable energy to power its operations in the Permian Basin. Credit: FreezeFrames on Shutterstock.
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Chevron earnings in Q1 2021 posted a profit of $1.4bn, still down from pre-pandemic levels a year ago of $3.6bn despite the recovery in energy prices. Majority of the earnings originates from upstream segment along with marginal profit from downstream segment. In Q1 2020, The company generated cash flow from operation summing up to $4.5bn in Q1 2021, free cash flow of $3.4bn excluding working capital.