Chevron earns 9.13 billion euros in the first half of the year

The American oil company Chevron reported a net profit of $9.935 billion in the first half of the year, a decrease of 21% compared to the same period last year.

The company's revenue increased by 0.20% between January and June compared to the same period last year, reaching $99.897 billion, of which $51.181 billion was earned during the second quarter (up 4.67%), as announced in a statement on Friday.

Chevron's Chairman and CEO, Mike Wirth, noted that the company "achieved solid production" this quarter.

"Despite recent operational downtime and weaker margins, we remain positioned to deliver significant growth," Wirth said in the statement.

The oil company also announced it will move its headquarters from San Ramon, California, to Houston, Texas.

Overall, Chevron's global oil production increased by 11% to 3.29 million barrels per day, thanks to record production in the Permian Basin in the United States.

So far this year, Chevron's shares have underperformed the market, with a gain of 2.3%.

After announcing its corporate results today before the market opened, its shares fell by more than 2%.