Chevron profit rises to 36 percent on the high price of oil (AP)

SAN RAMON, Calif.--Chevron Corp. said Friday its first-quarter net income rose 36 percent, the report of the last strong gains of a major oil company.

Chevron earned the higher prices for its oil in the world. The United States, Chevron sold its oil for an average price of $89 per barrel in the last quarter, compared to $71 a year ago. Internationally, Chevron sold oil for an average price of $95 per barrel, compared to $ 70 a year earlier.

These higher prices resulted in an increase of 1.25 billion for the benefit of exploration and production of oil and gas. Refining profits more than doubled, to $ 622 million.

In all, the net income of Chevron is passed 6.21 billion dollars, or $3.09 per action, 4.55 billion dollars, or $2.27 per share a year ago. The results topped Wall Street expectations and marked best Chevron three months since he gets 7.9 billion in the third quarter of 2008.

Analysts say that Chevron has succeeded in reducing costs while taking advantage of high oil prices. The company agreed to sell a refinery to the United Kingdom and other assets in Europe, the Caribbean and Africa which reduces profit margins.

Chevron has won $25 profit for each barrel of oil, it has sold, compared to $20 for ExxonMobil, according to Phil Weiss of the Argus Research.

Says of "low that are their spending, the less sensitive, they are to oil prices," Weiss.

Gasoline prices have topped $ 4 per gallon in nine States and the District of Columbia. As oil company profits of the levels of approach, three years ago, when the last fortified gas prices at the United States industry fights renewed President Barack Obama and Democrats push to end its $ 4 billion a year in taxpayer subsidies.

Thursday, Exxon Mobil reported a net income of almost $ 11 billion, its best quarter making Americans billions of dollars in the period from July to September 2008. This is the registration of a listed company. Also, Shell profit increased by 60% to approximately 9 billion in the first quarter. Total SA the France is about 5.8 billion, up to 50%. Remuneration of the ConocoPhillips increased by 43%.

Chevron revenues is 25% to 60.34 billion in the quarter. The increase in oil prices was partially offset by lower prices for natural gas United States. International natural gas prices have increased slightly.

Chevron sharing roses 59 cents to $109.40 in afternoon trading.