Texaco Inc.’s earnings fell 27% on lower...
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Texaco Inc.’s earnings fell 27% on lower crude oil prices.
Texaco earned $202 million, or 69 cents per share, on revenue of $7.43 billion in the first three months of the year. A year ago, the company earned $278 million, or 97 cents per share, on revenue of $8.23 billion.
The White Plains, N.Y.-based firm’s exploration and production earnings fell 43% to $120 million. The refining and marketing profit rose 18.7% to $203 million.
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