24 April 2010
Oil majors BP and Royal Dutch Shell are set to benefit from improving crude prices when the rivals present their first-quarter figures.
Consensus forecasts put underlying profits from BP on Tuesday at around 4.8 billion dollars (£3.1 billion) – almost double its earnings for the first quarter of 2009.
Similarly Anglo-Dutch rival Shell is likely to make gains on last year’s 3.3 billion dollars (£2.2 billion) in first quarter figures on Wednesday.
In its recent strategy update, BP said it would begin production on 42 major projects worldwide over the next five years as existing fields decline, and boost profits by taking more costs out of the business.
Copyright © 2010 The Press Association. All rights reserved.
This website and sisters royaldutchshellgroup.com, shellnazihistory.com, royaldutchshell.website, johndonovan.website, and shellnews.net, are owned by John Donovan. There is also a Wikipedia segment.