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Average Oil Prices News

31 Jul 2015

Pacific Basin Returns to The Black

Pacific Basin Shipping cut its half-year underlying losses by 32 per cent to US$14.6 million from a year ago, thanks to stringent cost-cutting efforts that helped it mitigate an anaemic dry-commodities shipping market. Hong Kong-listed Pacific Basin, the world's largest carrier of minor bulk cargo such as cement, bauxite and sugar, eked out US$5.8 million in net profit in the first half. The company booked an unrealised derivative income of USD16.7 million mainly from an increase in average oil prices when compared to the end of 2014, which affected its bunker fuel swap contracts. Revenue fell 30% year on year to USD634.6 million. Mats Berglund…

02 Oct 2001

Kerr-McGee Reports 2Q Results

Kerr-McGee Corp. reported second-quarter 2001 net income of $175 million ($1.71 per diluted share). This compares with income before special items of $217 million ($2.13 per share) and net income of $110 million ($1.11 per share) in the same prior-year quarter. The 2000 quarter included $107 million ($1.02 per share) in special charges. No special charges were recorded in the 2001 quarter. "Kerr-McGee continued to generate strong earnings and cash flow per share during the second quarter while taking steps to further strengthen and balance its portfolio of assets," said Luke R. Corbett, Kerr-McGee chairman and chief executive officer. "We have supplemented our drilling success with the announced agreement to acquire HS Resources, a core U.S. onshore gas asset.