Business

Chevron earnings fall 32 pct in 4Q

By Jonathan Fahey
Published January 31, 2014 6:22pm ET
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Chevron earnings fall 32 pct in 4Q
In this May 23, 2013, file photo, a U.S. flag flies in view of a Chevron gas station in Blaine, Washington. Chevron reports quarterly earnings on Friday, Jan. 31, 2014. (AP Photo/Elaine Thompson, File) | Elaine Thompson

NEW YORK (AP) — Chevron profit fell 32 percent in the fourth quarter on lower oil and gas production and lower prices for refined fuels relative to the cost of crude.

Chevron Corp. reported Friday net income of $4.93 billion on revenue of $53.95 billion for the final three months of 2013. That’s down from net income of $7.25 billion on revenue of $56.25 billion during the same period of 2012.

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