Shell, Exxon, Unocal, Chevron production in decline

"Shell's oil and gas production, including oil sands, averaged 3.53 million barrels of oil equivalent a day in the second quarter, a 1 percent decline from 3.58 million barrels a day a year earlier ..." [bloomberg.com]

"Exxon Mobil Corp., the world's largest publicly traded oil company, on Thursday said its profits surged 32 percent in the second quarter as it reaped the benefits of soaring oil and natural gas prices ... [however,] on an oil-equivalent basis, energy production dropped 4.3 percent from last year's quarter, reflecting both lower liquids and natural gas volumes, Exxon said." [biz.yahoo.com]

"Unocal lowered its production forecast for the year, citing the planned sale of its Canadian assets. It now expects output of more than 430,000 barrels of oil equivalent per day, down from a previous estimate of 440,000 ... Unocal's preferred suitor, Chevron also reported better-then-expected quarterly earnings on Friday, but its profit fell, hurt by refinery outages and lower oil and gas production ..." [reuters.com]

(2005-08-01 23:07:13 SGT) [Energy] Permalink

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