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Shares of Chevron Corp. pulled back Friday, putting them on track for their first loss in eight sessions, after the oil giant reported first-quarter profit and revenue that fell amid a sharp drop in natural-gas prices, but still managed to beat expectations.
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Shares of Exxon Mobil Corp. dropped Friday, after the oil and gas giant reported first-quarter profit and production that fell below forecasts, even as revenue beat expectations by a wide margin.
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Profits for the two oil giants, which are locked in a standoff over drilling off the coast of Guyana, were squeezed by lower profitability for refining crude and falling natural gas prices.
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UK-listed company says Australian miner's takeover approach ‘significantly undervalues' it
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