U.S. Petroleum companies for the most part have yet to see relief from hemorrhaging profits. Most companies reporting first half earnings last week listed declines from the same time a year ago, with upstream and downstream sectors suffering alike. Generally, the only bright spots are non-U.S. operations. And among a number of companies faring better this year, the year to year improvement stemmed from large writedowns taking a chunk out of first half 1991 earnings.

In order to access this content, you must be logged-in and have an active subscription to the OGJ Premium Archive


More in Companies