First-quarter results vary as oil, gas prices diverge

Marilyn RadlerSenior Editor-EconomicsLaura BellStatistics EditorFirst-quarter 2011 results differed widely across oil and natural gas producers, refiners, and service and supply firms.While the largest integrated US companies reported strong earnings, many oil and gas producers recorded dismal results for this year's first quarter in light of higher oil prices and lower gas prices as compared with those a year earlier. Some downstream results were stronger due to mostly improved refining margins and better chemicals results.A sample of oil and gas producers and refiners based in the US recorded a combined 25% jump in both revenue and profits for first-quarter 2011 as compared with year-ea...

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