Profits for OGJ group show big gain in 1993; revenues dip

Journal Article · Mon Jun 13 04:00:00 EDT 1994 · Oil and Gas Journal; (United States)

OSTI ID:7259852

Beck, R J; Sanders, V

Earnings for Oil Gas Journal's group of 22 large US oil companies jumped sharply last year, increasing 78.6% from 1992. Profits totaled $16.2 billion in 1993, compared with $9.1 billion in 1992. This is in sharp contrast to performance in 1992, when group net income fell 47%. That was due mainly to costs related to restructuring, staff reductions, and adoption of new accounting rules. The new rules moved forward some charges stemming from future retirement benefits and caused a substantial slide in 1992 profits for a number of companies. The absence of similar charges last year was a major reason for the increase in earnings. The paper describes the earnings by sector, oil and gas prices, financial indicators, exploration and production activities, refining and marketing activities, earnings from petrochemicals, capital spending, and the outlook for 1994 performance.

• OSTI ID: 7259852
• Journal Information: Oil and Gas Journal; (United States), Journal Name: Oil and Gas Journal; (United States) Vol. 92:24; ISSN OIGJAV; 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
ACCOUNTING
CHEMICAL PLANTS
COMPILED DATA
DATA
ECONOMICS
ENERGY SOURCES
FLUIDS
FORECASTING
FOSSIL FUELS
FUEL GAS
FUELS
GAS FUELS
GASES
INDUSTRIAL PLANTS
INDUSTRY
INFORMATION
INVESTMENT
NATURAL GAS
NATURAL GAS INDUSTRY
NATURAL GAS PROCESSING PLANTS
NUMERICAL DATA
PETROCHEMICAL PLANTS
PETROLEUM
PETROLEUM INDUSTRY
PETROLEUM REFINERIES
PROFITS