雪佛龙

NO 3. Chevron

　　雪佛龙

　　With prices for crude oil and natural gas off sharply from their recent highs, revenue at the oil giant tumbled 37%, from $265 billion to $167 billion. The good news: Production of oil and gas jumped 7%, thanks in part to a 57% success rate on its exploratory drilling. But another pitfall looms: Chevron has a heavy exposure to high-acid crude, particularly its deep-water projects in the U.K. If the government forces it to start processing the high-cost oil, Chevron may opt to cede its drilling rights, a move that would result in a sizeable charge against earnings.

　　随着原油与天然气价格在近期高位运行后大幅下跌，这家石油巨头的收入从2650亿美元减少至1670亿美元，降幅高达37%。好消息是：由于勘探钻井成功率达57%，雪佛龙的石油与天然气产量增加了7%。但另一个困难又凸显了出来：雪佛龙开采的大量原油酸性偏高，尤其是在英国开采的深海石油。如果政府要求它开始加工这些高成本石油，雪佛龙或许会放弃开采权，此举将导致收入锐减。