Friday, July 10, 2009

Chevron looses $400 Million on Foreign Exchange losses due to weakness of US Dollar

http://ca.news.finance.yahoo.com/s/09072009/2/biz-finance-chevron-says-q2-earnings-lifted-oil-prices-overall.html
For those same two months, the company said results from its overseas exploration and production operations included unfavourable foreign currency effects of more than $400 million. The reason, Chevron said, was the weakening U.S. dollar against most other major currencies, and it said the trend continued in June.