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SAN FRANCISCO (AP) - In a Sept. 29 story about Chevron Corp.'s earnings outlook for the third quarter, The Associated Press reported erroneously that the company's refining profit margins for the period had increased by $1.48 per barrel from the second quarter. That increase referred only to Chevron's West Coast refining profit margins; Chevron did not release information about its overall refining profit margins.
The AP also reported erroneously that Chevron expects it third-quarter charge for environmental cleanup to range between $250 million and $300 million. The charge also includes costs other than environmental cleanup.
The story also should have made it clear that the estimated $350 million reduction in Chevron's third-quarter profit wasn't caused entirely by the closure of the company's Pascagoula, Miss. refinery. The company hasn't specified how much the Mississippi refinery contributed to the third-quarter setback.
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