SECOND QUARTER TRIMS EARNINGS GAIN FOR OGJ GROUP OF U.S. OIL COMPANIES

Robert J. Beck Economics Editor Joan Bonfield Biggs Statistics Editor First half 1991 profits for the Oil & Gas Journal group of 22 large U.S. oil companies totaled $10.553 billion, down a scant 0.1% from the same period the year before. However, second quarter profits were down sharply, dipping to $3.656 billion or 27.4% below the second quarter of 1990. This is in sharp contrast with first quarter profits, which totaled $6,897 billion and were up 24.8% from the same period of 1990.

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