Chevron Corporation today reported earnings of $2.7 billion ($1.41 per share – diluted) for first quarter 2017, compared with a loss of $725 million ($0.39 per share – diluted) in the 2016 first quarter. Included in the quarter was a gain of approximately $600 million from the sale of the Indonesia geothermal business. Foreign currency effects decreased earnings in first quarter 2017 by $241 million, compared with a decrease of $319 million a year earlier.
International upstream operations earned $1.4 billion in first quarter 2017, compared with a loss of $609 million a year earlier. The increase was due to higher crude oil realizations and a gain of approximately $600 million from the sale of the Indonesia geothermal business.