Richard Tafoya
Apr 29th, 2008, 01:41 AM
Bloomberg:
http://www.bloomberg.com/apps/news?pid=20601102&sid=aEhgXbX_M7tE&refer=uk
Exxon Mobil Corp. (http://www.bloomberg.com/apps/quote?ticker=XOM%3AUS) and Royal Dutch Shell Plc (http://www.bloomberg.com/apps/quote?ticker=RDSA%3ALN) may report record first-quarter profit and BP Plc the highest earnings in two years after oil rose above $100 a barrel and natural gas prices climbed.
Exxon Mobil will probably say net income rose 25 percent to $11.6 billion, based on the average of six analyst estimates compiled by Bloomberg. Profit at The Hague-based Shell (http://www.bloomberg.com/apps/quote?ticker=RDSA%3ALN) may have gained 4.9 percent to $6.88 billion excluding one-time items, according to the median of eight analysts. BP (http://www.bloomberg.com/apps/quote?ticker=BP%2F%3ALN)'s probably jumped 32 percent to $5.26 billion, the median of eight analysts surveyed by Bloomberg News shows.
Oil reached $100 for the first time on Jan. 2 and $111.80 a barrel in March as the dollar fell, while natural gas increased 22 percent on average. Shares of all three fell as the rise in crude squeezed refining profits by outpacing gains in gasoline and as they faced rising competition from OAO Gazprom (http://www.bloomberg.com/apps/quote?ticker=GAZP%3ARX) of Russia, PetroChina Co. (http://www.bloomberg.com/apps/quote?ticker=857%3AHK) and Petroleo Brasileiro SA (http://www.bloomberg.com/apps/quote?ticker=PETR4%3ABZ), Brazil's state- controlled oil company.
``It's obviously all about the oil price,'' said Edward Collins (http://search.bloomberg.com/search?q=Edward%0ACollins&site=wnews&client=wnews&proxystylesheet=wnews&output=xml_no_dtd&ie=UTF-8&oe=UTF-8&filter=p&getfields=wnnis&sort=date:D:S:d1), a London-based money manager at New Star Asset Management Group Plc, who runs four funds as part of $41 billion of investments, including BP and Shell shares. ``Refining margins were weak in the quarter, particularly in the U.S.''
http://www.bloomberg.com/apps/news?pid=20601102&sid=aEhgXbX_M7tE&refer=uk
Exxon Mobil Corp. (http://www.bloomberg.com/apps/quote?ticker=XOM%3AUS) and Royal Dutch Shell Plc (http://www.bloomberg.com/apps/quote?ticker=RDSA%3ALN) may report record first-quarter profit and BP Plc the highest earnings in two years after oil rose above $100 a barrel and natural gas prices climbed.
Exxon Mobil will probably say net income rose 25 percent to $11.6 billion, based on the average of six analyst estimates compiled by Bloomberg. Profit at The Hague-based Shell (http://www.bloomberg.com/apps/quote?ticker=RDSA%3ALN) may have gained 4.9 percent to $6.88 billion excluding one-time items, according to the median of eight analysts. BP (http://www.bloomberg.com/apps/quote?ticker=BP%2F%3ALN)'s probably jumped 32 percent to $5.26 billion, the median of eight analysts surveyed by Bloomberg News shows.
Oil reached $100 for the first time on Jan. 2 and $111.80 a barrel in March as the dollar fell, while natural gas increased 22 percent on average. Shares of all three fell as the rise in crude squeezed refining profits by outpacing gains in gasoline and as they faced rising competition from OAO Gazprom (http://www.bloomberg.com/apps/quote?ticker=GAZP%3ARX) of Russia, PetroChina Co. (http://www.bloomberg.com/apps/quote?ticker=857%3AHK) and Petroleo Brasileiro SA (http://www.bloomberg.com/apps/quote?ticker=PETR4%3ABZ), Brazil's state- controlled oil company.
``It's obviously all about the oil price,'' said Edward Collins (http://search.bloomberg.com/search?q=Edward%0ACollins&site=wnews&client=wnews&proxystylesheet=wnews&output=xml_no_dtd&ie=UTF-8&oe=UTF-8&filter=p&getfields=wnnis&sort=date:D:S:d1), a London-based money manager at New Star Asset Management Group Plc, who runs four funds as part of $41 billion of investments, including BP and Shell shares. ``Refining margins were weak in the quarter, particularly in the U.S.''