Talk of oil company profiteering seems to have evaporated now that most profits have plunged. Companies posting losses or profit declines in the first half cite reduced crude and gas sales and lower gas prices in the U.S. and weaker refining, marketing, and chemical margins. The second quarter was especially depressed, as many companies reported lower profits despite an overall increase for the half.

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


More in Companies