Oil and gas companies' first quarter 2001 earnings soar

Continuing the trend seen in the fourth quarter of 2000 (OGJ, Feb. 19, 2001, p. 18), the first quarter of 2001 proved to be another stellar earnings period for the oil and gas industry.For the most part, these continued strong earnings revealed themselves across almost all industry sectors. And once again, a majority of companies cited robust oil and natural gas prices as underpinning their record-setting revenues.While the world's largest oil company, ExxonMobil Corp., reported earnings earlier this year (OGJ, Apr. 30, 2001, p. 34), the other two "supermajors"-BP PLC and Royal Dutch/Shell Group-both recently reported positive year-over-year gains.Among the US majors, Texaco Inc. and ...

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