First quarter profits show sharp decline

During the first quarter of 1999, lower crude oil and natural gas prices led to a sharp decline in profits for a sampling of North American oil and gas companies.Both revenues and profits were down from the year earlier. There was a significant increase in world and U.S. demand for petroleum, but the higher level of oil consumption was not sufficient to offset the negative impact on profits from the low prices.For many of the companies, the exploration and production sector earnings showed the sharpest decline. But refining and marketing earnings were also down for the year. Refining margins deteriorated as product prices fell along with crude oil feedstock costs.Aggregate resultsFor the ...

Why Register?

Non-subscribers can only view whitepapers by providing name, home and email address, phone number and other information and comment on/rate articles.

Why Subscribe?

Oil & Gas Journal subscribers with login credentials can access these premium features of OGJ Online:

  • Current Issue – an html version of the current week's issue of Oil & Gas Journal.
  • Past Issues – An Electronic OGJ Archive. A keyword-searchable archive of all issues of Oil & Gas Journal dating back to 1990; also searchable by issue date.
  • Market Journal – a weekly round-up of the oil and gas markets, with observations from leading analysts.
  • Editor's Perspective – a short article of insight and opinion by the Editor of Oil & Gas Journal.
  • OGJ Industry Stats – quick access to current industry statistics from Oil & Gas Journal.
  • OGJ Survey Downloads - quick access to exclusive reports from Oil & Gas Journal.


Subscriber Help or Subscribe

Oil & Gas Journal Subscribers: Have your subscription number (from the mailing label on the cover of your Oil & Gas Journal) and e-mail address ready to set up your online account through Customer Service Assistant.

If you're not an Oil & Gas Journal subscriber, start a subscription and gain access to the subscriber areas of OGJ Online now.

Stay Connected