Shell Announces Strong Results

Thursday, February 10, 2000
Oil giant Royal Dutch/Shell Group announced record fourth quarter profits, after a more than twofold jump in oil prices and as the benefits of its restructuring program continued to show through. Adjusted current cost net income soared by 173 percent to $2.235 billion in fourth quarter 1999, which was at the top end of analysts' forecasts, while net income of $2.582 billion compared with a loss of 3.739 billion the year before. Current cost net income for the full year rose 38 percent to $7.09 billion, after adjusting for special credits and charges. Exploration and production provided the main profit boost, hitting $1,507 million in the fourth quarter compared with a loss of $1,906 million in 1998 as crude prices soared. North Sea Brent crude prices averaged $17.95 per barrel in the fourth quarter, up from $11.15 in the same period of 1998.
Maritime Reporter July 2014 Digital Edition
FREE Maritime Reporter Subscription
Latest Maritime News    rss feeds

Legal

USCG Shares Safety Tips for Labor Day, Riverfest

Labor Day weekend marks the unofficial end of the boating season and is known as one of the busiest recreational boating weekends on the Ohio River. With approximately 2,

Wishful Thinking From Across the Pond

European Shipowners Pursue Softening of the Jones Act Just last month, the Secretary General of the European Community Shipowners’ Association (ECSA) opined that

Legislation Signed for Ports Upgrades

Today, Governor Brown signed AB 2395 Legislation. The bill was co-authored by Bonnie Lowenthal chair of the Assembly Transportation Committee and the Select Committee

Offshore

Oceanteam Focuses on Mexico Strategy

Oceanteam Shipping ASA releases its Q2 2014 financial report, with extracts as follows: The company says it saw, with its early focus on Mexico, a long term

Wärtsilä Signs Harvey Gulf OSV Maintenance Agreement

Wärtsilä says it has signed a long-term Technical Management Agreement with Harvey Gulf International Marine LLC (Harvey Gulf). This five-year agreement covers

ABS to Class First Self-elevating Unit Built in Qatar

ABS, a provider of classification services to the global offshore industry, was selected by Nakilat-Keppel Offshore & Marine (N-KOM) to class its LB310S liftboat,

 
 
Maritime Contracts Maritime Standards Navigation Offshore Oil Pipelines Port Authority Salvage Ship Electronics Shipbuilding / Vessel Construction Sonar
rss | archive | history | articles | privacy | terms and conditions | contributors | top maritime news | about us | copyright | maritime magazines
maritime security news | shipbuilding news | maritime industry | shipping news | maritime reporting | workboats news | ship design | maritime business

Time taken: 0.0815 sec (12 req/sec)