Chevron predicts increases in quarterly earnings

Natural-gas discovery company Chevron has reported in its interim update that earnings for second-quarter 2010 are expected to be higher than in the first quarter.

Upstream earnings are projected to be in line with first-quarter results, while downstream results, inclusive of the former chemicals business segment, are expected to be significantly higher than the first quarter.

Additionally, earnings are expected to benefit from favourable non-cash foreign-currency effects, due to the strengthening of the US dollar in the second quarter.