OGJ GROUP EARNINGS SHOW BIG GAIN FOR 1993

04/04/1994
Robert J. Beck Economics Editor Valerie Sanders Statistics Editor Earnings for Oil & Gas Journal's group of 22 large U.S. oil companies advanced sharply last year, increasing 70.9% from 1992. Group profits totaled $16.1 billion, with the gain stemming largely from lack of one time charges that depressed earnings in 1992. Adoption of new accounting rules associated with future postretirement costs caused the 1992 charges. Nine companies in the OGJ group posted losses for 1992. For 1993, only two showed a loss. Group profits totaled $3.5 billion during fourth quarter 1993, down 15.4% from the same p...
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