Chevron Takes Hit in 2009 After Worldwide Decline in Demand

SUGAR LAND--February 1, 2010--Researched by Industrial Info Resources (Sugar Land, Texas)--Oil and gas titan Chevron Corporation (NYSE:CVX) (San Ramon, California) reported lower earnings for fourth-quarter and full year 2009, as a weak global economy resulted in lower prices, weak demand and excess supply worldwide, in particular a decline in refined product sales margins. Net income was $3.07 billion for the fourth quarter, a 37.3% drop year-over-year, and $10.48 billion for the full year, a 56.2% decrease from 2008.