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17

Chevron Got Benefit From Unocal Bid

US oil company Chevron Texaco's profits have risen ahead of forecasts

US oil company Chevron Texaco?s profits have risen ahead of forecasts on its bid for the US oil major Unocal.

Chevron got $3.7 billion in the second quarter.

Results across the energy sector have proved healthy in recent days, as soaring oil prices have seen sales and profits jump.

Unocal has accepted a $17bn bid from Chevron, spurning a higher one from Chinese state-owned firm CNOOC.