Friday, February 01, 2013 4:47 pm
News summary: Chevron profit soars on asset swap
By The Associated Press
OUTPUT UP: Oil and gas production rose slightly from a year earlier. It jumped 6 percent since the third quarter.
CASH RICH: Chevron ended the quarter with $21 billion in cash. CEO John Watson why said the company plans to pay dividends, buy back stock, invest in new projects and keep a lot handy in case oil prices fall.