Retrenchment's effects slash OGJ group first half earnings

Journal Article · Mon Aug 31 04:00:00 EDT 1992 · Oil and Gas Journal; (United States)

OSTI ID:7257229

Williams, B; Sanders, V

This paper reports that first half 1992 profits of the group of 22 large integrated U.S. petroleum companies plummeted by almost half from a year ago. More than three fourths of the profit drop came in an especially dismal first quarter that saw record lows in U.S. natural gas spot market prices and the post-1940 active rig count. Faint stirrings of a turnaround in the second quarter staunched the bleeding, in contrast with the way the group fared in respective quarters last year. As revenues rose slightly in the second quarter form the same time a year ago, group profits for the period fell 21% to $2.9 billion.

• OSTI ID: 7257229
• Journal Information: Oil and Gas Journal; (United States), Journal Name: Oil and Gas Journal; (United States) Vol. 90:35; ISSN OIGJA; ISSN 0030-1388
• Country of Publication: United States
• Language: English

Related Subjects

02 PETROLEUM
020700 -- Petroleum-- Economics
Industrial
& Business Aspects
03 NATURAL GAS
030600* -- Natural Gas-- Economic
Industrial
& Business Aspects
DEVELOPED COUNTRIES
DOCUMENT TYPES
ECONOMIC ANALYSIS
ECONOMICS
ENERGY SOURCES
FLUIDS
FOSSIL FUELS
FUEL GAS
FUELS
GAS FUELS
GASES
INDUSTRY
LAWS
MARKET
NATURAL GAS
NATURAL GAS INDUSTRY
NORTH AMERICA
PETROLEUM INDUSTRY
PRICES
REVIEWS
SPOT MARKET
TAX LAWS
USA