EXTRACT: In September, Russia intervened in the Sakhalin-2 oil-and-gas project led by Royal Dutch Shell PLC that also involved Mitsubishi and Mitsui. The government has accused Shell of violating environmental standards and threatened to pull its permits.
THE ARTICLE
By ARRAN SCOTT
November 1, 2006
TOKYO — Japanese trading companies Mitsubishi Corp. and Mitsui & Co. yesterday posted sharp increases in first-half net profit and forecast stronger results amid booming commodities prices.
Mitsubishi, Japan’s biggest trading company by revenue, posted a group net profit of 234.83 billion yen ($2 billion) for the six months ended Sept. 30, up 32% from 178.31 billion yen in the year-earlier period, on strong earnings from metals trading and its coal business in Australia. Group revenue was up 9.1% to 9.836 trillion yen. read more
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