Total Adjusted Profit up 36%
Total SA announced that its Q3 adjusted net profit rose 36 percent as record crude prices made up for a drop in output. For full story, click here For company’s website, click here
Articles Tagged "profit"
Imperial Oil Profit soars 70%
Imperial oil said that its Q3 profit soared 70 %, helped by higher oil and natural-gas prices and improved refining margins. Randy Ollenberger, analyst at BMO Capital Markets in Calgary, said: On a year-over-year basis, they benefited from much higher prices. Where they did particularly well was refining, because of higher margins. For full story, [...]
Upgrader: Tight belts
By Duncan Sutherland – Exclusive to Heavy Oil Investing News Market news As predicted, the combination of falling oil prices, demand destruction and tight credit is beginning to affect heavy oil and oil sands. Energy stocks and trusts are down, and the news marginalia suggests that companies have a bleak outlook for the future profitability [...]
Upgrader: Brass Tacks
By Duncan Sutherland – Exclusive to Heavy Oil Investing News Brass tacks In markets like these, it behooves investors, advisers, businesspeople and journalists to return to first principles. May I first offer a mea culpa for failing to forecast the precipitous decline in barrel prices? Sorry. Getting down to brass tacks, the economic fundamentals of [...]
Upgrader: September 3
By Duncan Sutherland – Exclusive to Heavy Oil Investing News Market News As most of you know by now, the barrel price for oil has dropped pr ecipitously in the wake of Gustav’s fairly uneventful passage through the Gulf of Mexico. The drop in prices has weighed down the energy-heavy TSX indexes, energy companies and [...]
Upgrader: August 14
By Duncan Sutherland – Exclusive to Heavy Oil Investing News Welcome back to the Upgrader. More Q 2 results were announced this week. The record heavy oil prices of the quarter have been kind to most, thought profits in refining operations have been hindered. Calgary’s Baytex Energy Trust (NYSE:BTE) was boosted by $125 million (CDN) [...]
Imperial oil reported record profit
Imperial’s profit rose due to high heavy oil prices boosted by higher demand for diesel. Net income increased to C$1.15 billion ($1.12 billion), or C$1.28 per share, from C$712 million, or 76 cents a year earlier. For full story, click here
