ENVIRONMENTAL WRITEDOWNS, THINNER MARGINS CRIMP OGJ GROUP EARNINGS

Robert J. Beck Economics Editor Earnings for the Oil & Gas Journal group of 22 U.S. oil companies fell 12% in 1989. Group earnings dropped to $18.8 billion from $21.4 billion for 1988. The decline stemmed mainly from large extraordinary charges posted by several of the companies and related to environmental issues (OGJ, Feb. 5, p. 23).

Apr 16th, 1990
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