Chevron said that third-quarter earnings from exploration and production would be "significantly" higher than the previous quarter, helped by higher oil prices and increased output.

The company said its downstream results, on the other hand, would be relatively flat, with depressed refining margins holding broadly steady.

Chevron said US oil-equivalent production in July and August rose to 741,000 barrels per day from 700,000 in the second quarter, while international output was down 24,000 bpd from the previous quarter at 1.946 million, Reuters reported.

Chevron increased its 2009 average output forecast to 2.66 million bpd in July, indicating an annual increase of 5% instead of the 4% previously expected.

While violence has disrupted Nigerian production, a series of projects from Angola to Brazil have started up this year.