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The Sunday Times: Record profits for BP and Shell

July 23, 2006
Extract from “News in Brief” 

THE oil companies BP and Shell are expected to announce record profits this week as forecourt prices for petrol and diesel soar because of turmoil in the Middle East.

The two firms’ earnings are forecast to be about £3.2 billion each for the three months to the end of June with the average price of diesel passing £1 a litre.

The size of profits has led to claims the firms are exploiting the rising price of crude oil.

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