Chevron, the American oil and gas conglomerate, recorded a decline in profits in the first quarter of the current year compared to the previous year.

Despite Increased Oil Production Due to Recent Acquisitions, Revenues Fell to $5.5 Billion Due to Lower Natural Gas Prices and Smaller Profits from Processed Products. However, There is a Significant Improvement Compared to the Previous Quarter.

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The adjusted earnings per share fell from $3.55 the previous year to $2.93 but still exceeded analysts' expectations. Global oil production increased by 12 percent in the first quarter, mainly due to the acquisition of PDC Energy, while a 35 percent increase was recorded in the USA.

Despite these figures, Chevron stock records an occasional decline of 0.44 percent to 164.56 US dollars in trading on the New York Stock Exchange.