Bobby Orr 4
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EXXON sales $100 BILLION/Profit $8.3 BILLION! (merged)
- Thread starter Bobby Orr 4
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Hair-on-Fire
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CA1900
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tr.v. fleeced, fleec·ing, fleec·es
Condoleeza Rice was a director at Chevron -- they named an oil tanker after her. She resigned that post only a week before joining Bush as National Security Advisor. Cheney's ties to Halliburton are well-known.
The Bush Family's ties to the Carlyle Group are very well-known.
When oil makes money, the Bush family makes money. See the relationship?
- To defraud of money or property; swindle.
Condoleeza Rice was a director at Chevron -- they named an oil tanker after her. She resigned that post only a week before joining Bush as National Security Advisor. Cheney's ties to Halliburton are well-known.
The Bush Family's ties to the Carlyle Group are very well-known.
When oil makes money, the Bush family makes money. See the relationship?
SWA GUY
BMF
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- Apr 27, 2002
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- 627
I'm glad I have some portion of my investment portfolio in oil company MLP's and stocks.
The oil companies are the bad guys for making a profit? Riiiiight.
Don't the big oil companies employ hundreds of thousands of people? Provide insurance for those employees? Give them an opportunity to build a life? Allow them to get ahead and make a better life? Bring in huge sums of tax revenue?
Wake up people. Big business=good. Socialism/communism=bad.
The oil companies are the bad guys for making a profit? Riiiiight.
Don't the big oil companies employ hundreds of thousands of people? Provide insurance for those employees? Give them an opportunity to build a life? Allow them to get ahead and make a better life? Bring in huge sums of tax revenue?
Wake up people. Big business=good. Socialism/communism=bad.
whymeworry?
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Hpilot
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Yep,
The guy that lives across the street from me(yeah I'm the poor one on my block) is one of the higher ups at the local refinery. His bonus check is so large he's trading up on his power boat. After all the things only 40ft and it's already 2 years old. He thought it was funny because after they first started raising prices the demand increased. All the oil from his refinery is brought into Washington state by tanker, refined here and the finished product stays here. There was absolutely no disruption with their process. They couldn't pass up the chance however to screw us all and make a big profit(northwest has some of the highest gas prices). Good old supply and demand excuse. Time to ask him if they have any job openings.
The guy that lives across the street from me(yeah I'm the poor one on my block) is one of the higher ups at the local refinery. His bonus check is so large he's trading up on his power boat. After all the things only 40ft and it's already 2 years old. He thought it was funny because after they first started raising prices the demand increased. All the oil from his refinery is brought into Washington state by tanker, refined here and the finished product stays here. There was absolutely no disruption with their process. They couldn't pass up the chance however to screw us all and make a big profit(northwest has some of the highest gas prices). Good old supply and demand excuse. Time to ask him if they have any job openings.
SWA GUY
BMF
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- Posts
- 627
Say Again,
Ima gonna take the time to explain this to you.
You(insert your oil ccompany name here) own a big oil company that does and owns various things. You own coal mines, gas fields, offshore/onshore drilling rigs, as well as fractionation plants.
When the price of crude oil is $11.00/bbl the oil/gas in your fields sit there making very little money. Your offshore/onshore rigs do almost nothing(which costs you a ton of money to do nothing) and your fractionation plants produce the bare minimum.
Now, the price of oil(crude oil futures on the Mercantile Exchange) goes up to $40/bbl-$60/bbl due to investers thinking they can make money in crude oil futures(they have and can) and suddenly all your gas/oil fields are worth a whole lot more. Your offshore/onshore rigs are producing like mad, and the fractionation plants are at full output.
Now, there'd be a huge change in profit from $11/bbl to $60/bbl. "Record Profit" even.
The price at the pump is largely linked to margin. about 7-12% is pretty standard. I will say that gas(at the pump) goes up rather fast, and down rather slowly. I hate that too, but I don't own a gas satation and can't help you.
I hope this helps.
Ca1900 you Sir, are a complete moron!
Ima gonna take the time to explain this to you.
You(insert your oil ccompany name here) own a big oil company that does and owns various things. You own coal mines, gas fields, offshore/onshore drilling rigs, as well as fractionation plants.
When the price of crude oil is $11.00/bbl the oil/gas in your fields sit there making very little money. Your offshore/onshore rigs do almost nothing(which costs you a ton of money to do nothing) and your fractionation plants produce the bare minimum.
Now, the price of oil(crude oil futures on the Mercantile Exchange) goes up to $40/bbl-$60/bbl due to investers thinking they can make money in crude oil futures(they have and can) and suddenly all your gas/oil fields are worth a whole lot more. Your offshore/onshore rigs are producing like mad, and the fractionation plants are at full output.
Now, there'd be a huge change in profit from $11/bbl to $60/bbl. "Record Profit" even.
The price at the pump is largely linked to margin. about 7-12% is pretty standard. I will say that gas(at the pump) goes up rather fast, and down rather slowly. I hate that too, but I don't own a gas satation and can't help you.
I hope this helps.
Ca1900 you Sir, are a complete moron!
Airboss
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- Sep 19, 2004
- Posts
- 472
Exxon Mobil, Shell Post Record Profits
By STEVE QUINN, Associated Press Writer 8 minutes ago
High prices for oil and natural gas propelled Exxon Mobil Corp. and Royal Dutch Shell PLC to their best quarterly results ever on Thursday, with Exxon becoming the first U.S. company ever to ring up quarterly sales of $100 billion.
To put Exxon's performance into perspective, its third quarter revenue was greater than the annual gross domestic product of some of the largest oil producing nations, including the United Arab Emirates and Kuwait. The world's largest publicly traded oil company also set a profit record for U.S. companies by posting net income of almost $10 billion, according to Standard & Poor's equity market analyst Howard Silverblatt.
Both Exxon and Shell said their performances were buoyed by higher crude-oil and natural-gas prices, even as output suffered due to a busy hurricane season in the Gulf of Mexico. The companies noticed slight decreases in fuel demand.
Exxon's net income ballooned 75 percent to $9.92 billion, compared with $5.68 billion a year ago. The previous oil-industry earnings record was Exxon's 2004 fourth-quarter profit of $8.42 billion. Revenue grew to $100.72 billion from $76.38 billion in the prior-year period.
At Shell, third-quarter net income grew 68 percent to $9.03 billion, compared with $5.37 billion a year earlier. Revenue at the Anglo-Dutch company rose 8 percent to $76.44 billion.
"We are capturing the benefits of high oil and gas prices and refining margins," Shell Chief Financial Officer Peter Voser said, referring to the profit margin on each barrel of crude that is refined into gasoline, diesel and jet fuel.
Shares of Exxon rose 3 cents to $56.23 on the New York Stock Exchange, where U.S.-traded shares of Shell rose $1.30, or 2 percent, to $60.80.
Excluding certain items, Exxon's profit was $8.3 billion, or $1.32 per share, or slightly below the $1.38 per share expected by analysts polled by Thomson Financial.
With oil futures above $60 a barrel for much of the third quarter, Exxon's profits from petroleum exploration and production increased by $1.8 billion to $5.7 billion. Soaring prices for gasoline, diesel and jet fuel lifted refining and marketing profits by $727 million to $2.13 billion.
However, income at the company's chemicals unit declined by $537 million to $472 million, a reflection of the higher prices for raw materials.
Exxon said the hurricanes slashed U.S. production volumes by 5 percent from a year ago, while global daily production slipped to 2.45 million barrels of oil equivalent from 2.51 million barrels. By the end of the year, it will cost the company about $100 million after taxes, the company estimated.
Shell said its adjusted earnings, arrived at by stripping out the fluctuating value of petroleum, was $7.37 billion, sharply higher than analysts' forecasts.
Shells profits from exploration and production increased by $2.6 billion to $5 billion in spite of an 11 percent decline in oil and natural-gas output. Its refining and marketing profit climbed by $201 million to $1.7 billion. Its chemicals business saw profits decline by $251 million to $321 million.
Shell said hurricane damage would cost it about $350 million, although much of the expense would be covered by insurance.
Also on Thursday, Marathon Oil Corp. said third-quarter profit more than tripled to $770 million, up from $222 million a year earlier. Most of the profit came from its oil and natural-gas production unit. However, the results fell short of Wall Street's aggressive estimates and Marathon's stock dropped $2.23, or 3.7 percent, to $58.85 on the NYSE.
___
On the Net:
http://www.exxon.com http://www.shell.com
By STEVE QUINN, Associated Press Writer 8 minutes ago
High prices for oil and natural gas propelled Exxon Mobil Corp. and Royal Dutch Shell PLC to their best quarterly results ever on Thursday, with Exxon becoming the first U.S. company ever to ring up quarterly sales of $100 billion.
To put Exxon's performance into perspective, its third quarter revenue was greater than the annual gross domestic product of some of the largest oil producing nations, including the United Arab Emirates and Kuwait. The world's largest publicly traded oil company also set a profit record for U.S. companies by posting net income of almost $10 billion, according to Standard & Poor's equity market analyst Howard Silverblatt.
Both Exxon and Shell said their performances were buoyed by higher crude-oil and natural-gas prices, even as output suffered due to a busy hurricane season in the Gulf of Mexico. The companies noticed slight decreases in fuel demand.
Exxon's net income ballooned 75 percent to $9.92 billion, compared with $5.68 billion a year ago. The previous oil-industry earnings record was Exxon's 2004 fourth-quarter profit of $8.42 billion. Revenue grew to $100.72 billion from $76.38 billion in the prior-year period.
At Shell, third-quarter net income grew 68 percent to $9.03 billion, compared with $5.37 billion a year earlier. Revenue at the Anglo-Dutch company rose 8 percent to $76.44 billion.
"We are capturing the benefits of high oil and gas prices and refining margins," Shell Chief Financial Officer Peter Voser said, referring to the profit margin on each barrel of crude that is refined into gasoline, diesel and jet fuel.
Shares of Exxon rose 3 cents to $56.23 on the New York Stock Exchange, where U.S.-traded shares of Shell rose $1.30, or 2 percent, to $60.80.
Excluding certain items, Exxon's profit was $8.3 billion, or $1.32 per share, or slightly below the $1.38 per share expected by analysts polled by Thomson Financial.
With oil futures above $60 a barrel for much of the third quarter, Exxon's profits from petroleum exploration and production increased by $1.8 billion to $5.7 billion. Soaring prices for gasoline, diesel and jet fuel lifted refining and marketing profits by $727 million to $2.13 billion.
However, income at the company's chemicals unit declined by $537 million to $472 million, a reflection of the higher prices for raw materials.
Exxon said the hurricanes slashed U.S. production volumes by 5 percent from a year ago, while global daily production slipped to 2.45 million barrels of oil equivalent from 2.51 million barrels. By the end of the year, it will cost the company about $100 million after taxes, the company estimated.
Shell said its adjusted earnings, arrived at by stripping out the fluctuating value of petroleum, was $7.37 billion, sharply higher than analysts' forecasts.
Shells profits from exploration and production increased by $2.6 billion to $5 billion in spite of an 11 percent decline in oil and natural-gas output. Its refining and marketing profit climbed by $201 million to $1.7 billion. Its chemicals business saw profits decline by $251 million to $321 million.
Shell said hurricane damage would cost it about $350 million, although much of the expense would be covered by insurance.
Also on Thursday, Marathon Oil Corp. said third-quarter profit more than tripled to $770 million, up from $222 million a year earlier. Most of the profit came from its oil and natural-gas production unit. However, the results fell short of Wall Street's aggressive estimates and Marathon's stock dropped $2.23, or 3.7 percent, to $58.85 on the NYSE.
___
On the Net:
http://www.exxon.com http://www.shell.com
SWA GUY
BMF
- Joined
- Apr 27, 2002
- Posts
- 627
Say Again,
If I owned a gas station I'd sell you gas at deep discounts, and then make up the discount on CA 1900.
In the last 12 months over $250 Billion has been injected into the mercantile exchange (crude oil futures), which is why crude oil is at ~$60.00/bbl.
Google/Apple doing well too, although not related to oil.
If I owned a gas station I'd sell you gas at deep discounts, and then make up the discount on CA 1900.
In the last 12 months over $250 Billion has been injected into the mercantile exchange (crude oil futures), which is why crude oil is at ~$60.00/bbl.
Google/Apple doing well too, although not related to oil.
skydivinguy
Well-known member
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- Dec 14, 2004
- Posts
- 167
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