Chevron, the U.S.’s second largest oil company, posted global revenue of $220 billion last year. While that’s about 6% lower than 2012, the company still pulled in more than $21 billion in profits. CEO John Watson said profits were lower than expected due to suppressed global crude oil prices and tighter refining margins. The company expects production to pick up in 2015 and is continuing its expansion in Australia and the Gulf of Mexico.
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