Financial trends of leading US oil companies: 1968-1984

Book · Tue Jan 01 00:00:00 EST 1985

OSTI ID:6267635

Gal, N; Sowell, E

There continues to be considerable official and public interest in various aspects of the financial performance of the oil industry. This paper traces the broad financial trends of a group of 21 leading US oil companies from 1968 through 1984. This is the most recent version, containing comprehensive full-year 1984 data, of a paper that has been released annually since 1979. Over time, the coverage of the paper has been expanded to provide more complete source material on financial trends and developments. Among the points illustrated by data in the paper and discussed in the text are the following. (1) Net income in 1984 was 14% below 1983 and 37% below the peak level reached in 1980. (2) The rate of return on stockholders' equity for the 21 oil companies was 11.1% in 1984, the lowest since 1972 and almost four percentage points below the average for non-petroleum manufacturing firms. (3) Capital expenditures rose slightly in 1984, after declining in the previous two years. The 1984 level of spending was 23% below the peak level attained in 1981. (4) Net long term debt increased substantially in 1984 as a result of a decline in net income and an increase in investment spending and in investments and advances (for subsidiaries and acquisitions). 5 figures, 6 tables.

• OSTI ID: 6267635
• Resource Relation: Related Information: Discussion Paper No. 017R
• Country of Publication: United States
• Language: English

Related Subjects

02 PETROLEUM
29 ENERGY PLANNING
POLICY AND ECONOMY
PETROLEUM INDUSTRY
FINANCIAL DATA
EXPENDITURES
HISTORICAL ASPECTS
INCOME
INVESTMENT
PROFITS
USA
DATA
INDUSTRY
INFORMATION
NORTH AMERICA
020700* - Petroleum- Economics
Industrial
& Business Aspects
294002 - Energy Planning & Policy- Petroleum
290200 - Energy Planning & Policy- Economics & Sociology