International firms' restructuring strategies pay off in 2000

A sampling of major international oil and gas companies' yearend 2000 earnings showed dramatic year-over-year gains.Royal/Dutch Shell Group reported record full-year adjusted current cost of supply (CCS) earnings of $13.1 billion, as the group's profits surged 85% on the back of high oil and natural gas prices and "much improved" refining margins.BP unveiled pro forma 2000 profits of $14.2 billion, more than double its result for the previous year.Norsk Hydro AS, meanwhile, reported net income of 14 billion kroner in 2000. President and CEO Egil Myklebust credited "a combination of the rapid implementation of [a restructuring] strategy started in 1999, internal improvement program...

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