New York  - Chevron Corp, the second-largest US oil company, said Friday profits soared to a recored in the second quarter on surging oil prices.

Net profits rose 11 per cent to 6 billion dollars, or 2.90 dollars per share, from 5.4 billion dollars, or 2.52 dollars per share, in the year-earlier period, the San Ramon, California-based energy company said. Still, earnings fell below analysts' estimates.

Revenue rose 48 per cent to 82.9 billion dollars.

Chevron was hampered by lower margins in its refinery business and the inability to pass all costs for higher crude oil prices onto customers at the pump.

The company's extraction of oil and gas fell 3 per cent, as the search for new reserves becomes more costly and difficult.

Competitor Exxon Mobil on Thursday reported the highest quarterly earnings ever by a US company, bringing in 11.7 billion dollars. (dpa)