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12

World Biggest Oil Firms Profits Rise

US oil company ChevronTexaco said first-quarter profit rose

US oil company ChevronTexaco said first-quarter profit rose 4.5 percent as energy and chemicals prices surged.

Net income climbed to $2.68 billion, or $1.28 a share, from $2.56 billion, or $1.20, a year earlier, the company said. Revenue jumped 24 percent to $41.6 billion.

Six of the world's biggest oil companies this week reported a combined $25.5 billion in first-quarter earnings, up 35 percent from a year earlier. US company Exxon Mobil Corp. and British firm BP were among those with record results.