Saturday July 29, 2006 
Saturday July 29, 2006
Shell 2Q2006 profit rises 36% to $6.3 billion, but production falls
Oil giant Royal Dutch Shell beat forecasts with a 36% rise in second-quarter profits, boosting its shares, as high oil prices more than compensated for disappointing production news. The world's third largest fully publicly traded oil company by market value said in a statement that its second-quarter current cost of supply (CCS) net profit, which strips out changes in inventory values, rose 36% to $6.3 billion.
Lower than expected production of oil and gas took some shine off the results. Shell's production of oil and gas fell almost 8% to average 3.253 million barrels of oil equivalent per day (boepd) in the second quarter, compared with an average forecast of 3.315 million boepd. Shell cut its 2006 output target, saying its production would be around 3.4 million boepd rather than the 3.5-3.6 million boepd earlier envisaged if outages related to civil strife in Nigeria continue.
See also :
1. Shell profit hits UK company record
2. US oil defends record profits
3. Are Big Oil's tanks running dry?
(2006-07-29 00:50:52 SGT)
[Energy]
Permalink
Comments:
Post a Comment:
Comments are closed for this entry.
Most popular blog postings on lowem.log :
1. Singapore SIBOR rate falls to 0.94% in Nov 2008, lowest since Jul 2004
2. Baltic Dry Index falls 93% as shipping rates plunge, signalling global economic collapse
3. Singapore SIBOR rate falls to 1.31%, lowest since Nov 2004
4. Singapore SIBOR interest rates fall to 1.5%, lowest since Dec 2004
5. Live spot gold price quotes chart on COMEX
6. 2010 Honda Civic Hybrid preliminary specifications released
7. Fuel prices seen stoking Malaysia inflation in 2008
8. How to insert currency exchange rates into Google Spreadsheets
Featured articles on lowem.log :
1. ABC Guide to Beating Inflation in Singapore and Elsewhere
2. Singapore inflation rate hits new 26-year high of 7.5% in Apr 2008
3. Baltic Dry Index falls 93% as shipping rates plunge, signalling global economic collapse
4. 67000 China factories closed in H1 2008 as global economic collapse takes hold
5. 2010 Honda Civic Hybrid preliminary specifications released
6. Peakoiler buys 2008 Honda Civic Hybrid FD3
7. NYMEX crude oil recovers from $32.40 low after 2.2 mbpd OPEC production cut announced
8. Singapore SIBOR rate falls to 0.94% in Nov 2008, lowest since Jul 2004
| archives | |||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||
|
|||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||
| search | |||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||
Custom Search
|
|||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||
| sponsored links | |||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||
|
|
|||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||
| bookmarks | |||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||
|
about
sites
blogroll
forums |
|||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||
| navigation | |||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||
| decals | |||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||
|
|||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||
| powered by | |||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||
|
|||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||
| hosted by | |||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||
|
|||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||
