Chevron Swings To $6.6B Loss After Huge Shale Gas Write-Off

Chevron Corporation (NYSE: CVX) posted a fourth-quarter loss of $6.6 billion versus earnings of $3.7 billion for the same period of 2018, on the back of massive write-offs of $10.4 billion predominantly in its U.S. shale gas assets.   Chevron’s quarterly loss, which was the steepest in a decade, did not surprise analysts and Wall Street because the U.S. supermajor had already announced the write-off and impairment charges a month and a half ago. The write-offs were mostly attributed to the continuously depressed U.S. natural gas prices.…