Chevron 2Q income triples on higher energy prices

By CHRIS KAHN AP Energy Writer

NEW YORK (AP) - Chevron Corp. says its second-quarter earnings tripled on higher fuel prices and better refining margins.

The San Ramon, Calif. company on Friday reported income of $5.4 billion, or $2.70 per share, for the three months ended June 30. That compares with $1.7 billion, or 87 cents per share, in the same part of last year. Revenue jumped 32 percent to $53 billion.

Chevron easily beat most Wall Street expectations.

Analysts had expected earnings of $2.44 per share on revenue of $52.5 billion.

During the quarter, Chevron said it boosted production of both oil and natural gas. Prices increased for both commodities year-over-year.