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 September 2015 Digital Edition
FREE Maritime Reporter Subscription
Latest Maritime News    rss feeds


Historic Pacific Trade Deal Faces Skeptics in US Congress

Twelve Pacific Rim countries on Monday reached the most ambitious trade pact in a generation, aiming to liberalize commerce in 40 percent of the world's economy in a deal that faces skepticism from U.

US Orders EPA to Rewrite Ship Ballast Water Dumping Rules

A federal appeals court in New York ordered the government to rewrite its rules regulating the discharge of ballast water by ships, in a victory for environmental

Höegh Autoliners Appoints Agents in Finland

Höegh Autoliners has appointed Scandinavian Shipping & Logistics (SSL) as its agent in Finland from 1 December 2015.   SSL, which has worked with Höegh Autoliners


Kruszewski Joins Braemar Engineering

Braemar Engineering, the specialist maritime engineering consultancy, today announced the appointment of Chis Kruszewski to the role of Senior Electrical Engineer in its Offshore,

RigNet Partners Inmarsat to Offer Fleet Xpress

RigNet, Inc., a global provider of remote managed offshore communications solutions, telecoms systems integration services and collaborative applications to the oil and gas industry,

Italy's Eni Arrives Arctic as Shell Departs

As Shell retreats from the Arctic, the Italian oil giant Eni is making final preparations for its own oil exploration venture in the Norwegian Arctic, reports the Guardian.

Maritime Security Maritime Standards Navigation Offshore Oil Pipelines Pod Propulsion Port Authority Ship Electronics Ship Repair Ship Simulators
rss | archive | history | articles | privacy | 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: 0.0899 sec (11 req/sec)