OGJ GROUP PROFITS SLIDE IN 1992 DESPITE LATE YEAR RECOVERY

Massive restructuring efforts and increased U.S. natural gas prices sparked an impressive hike in fourth quarter 1992 earnings for a group of large integrated U.S. petroleum companies Oil & Gas journal tracks. But the boost was not enough to save the group from a big profit decline in 1992 compared with 1991. Combined net income for the group fell 39% in 1992 to $9.4 billion on revenues that declined less than 0.4% to $447.4 billion. The group logged a 24% decline in earnings in 1991 compared

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