BP and Shell's (RDSa.L) core upstream oil and gas production units will lead the profit collapse, mainly due to lower oil prices, but Shell is also forecast to suffer from a 3.8 percent fall in production to 3.39 million barrels of oil equivalent per day (boepd).
Oil Company Profits
Shell and BP profits to crash on cheaper oil
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More earnings carnage expected from oilpatch
Royal Dutch Shell, parent of Shell Canada, also reports Thursday. In a recently written fourth-quarter preview entitled, "2008 Ends On A Very Ugly Note,"UBS analyst Andrew Potter concludes: "Given the massive rout in commodity prices and crack (refining) spreads that occurred during the quarter, Q4 financial results will be the worst in several years."
Total Adjusted Net Rises 36% on Record Crude Prices (Update1)
Total's oil and gas production was 2.231 million barrels of oil equivalent a day in the quarter, compared with 2.352 million barrels a day in the year-earlier period and 2.353 million barrels in the previous quarter. European competitors Royal Dutch Shell Plc and BP Plc last week reported increases in dollar-denominated profit of 22 percent and 83 percent, respectively.
Oil giants keep on raking in the profits
Rocketing profits reported this week by oil giants Royal Dutch Shell and BP have been met with anger and incredulity around the globe.
We are steering the Shell ship in rough waters
"We are watching the world economic situation carefully," the Royal Dutch Shell chief executive blurted over the speakers on his third-quarter conference call. "We are steering the Shell ship in rough waters," he added, even though $147 US per barrel oil in July translated into a $10.9 billion profit.
Shell’s $10.6bn profits fuel windfall tax calls
Royal Dutch Shell's third-quarter profits ballooned by 71 per cent to $10.9bn (£6.7bn), the company said yesterday, reigniting outrage that energy companies are cashing in while inflated oil prices punish consumers.
Whatever happens, the world still needs what Shell provides
Along with the rest of the market, Shells share price has nosedived recently. Nevertheless, investors scouting for value in beaten-up blue chips could do worse than take a second look at this FTSE stalwart.
Exxon, Shell Earnings Jump
Even as Exxon Mobil Corp. and Royal Dutch Shell PLC reported another round of enormous profits Thursday, Shell said it will postpone the expansion of a big energy project, in a sign that plunging crude prices and high costs are raising concerns among executives of the world's largest oil companies.
Royal Dutch Shell
Now, under Jeroen van der Veer, the stickler for asset efficiency installed in 2004, Royal Dutch Shell has become a metronomic earnings machine, beating consensus forecasts for nine straight quarters.
Shell Profit Rises 22%, Delays Oil Sands Decision (Update1)
Royal Dutch Shell Plc, Europe's biggest oil company, reported a 22 percent increase in third- quarter profit and said it will delay an investment decision on its Athabasca oil-sands project in Alberta because of costs.
Higher Oil Prices Lift Shell’s Net
Shell Class B shares closed at £16.70 ($27.70) Wednesday, a drop of almost a quarter from their peak in mid-May as concerns about the global economy have driven down the oil price.
Shell Q3 profits surge to $10.9 bln
LONDON, Oct 30 (Reuters) - Royal Dutch Shell Plc said on Thursday third-quarter current cost of supply (CCS) net profit jumped 71 percent to $10.9 billion, boosted by high oil prices and asset sales.
BP at centre of a huge row yesterday
In response to the barrage of criticism, BP said that over the past three years it had paid more than £5bn in tax in the UK and, if fuel, excise duty and VAT were added, the total rose to almost £21bn.
Credit Suisse warn Shells results on Thursday could be weak, hit by unrest in Nigeria
Meanwhile, Credit Suisse gave a warning that Shells results on Thursday could be weak, hit by unrest in Nigeria, and downgraded it to underperform.
Results for oil giants BP and Shell won’t help their popularity
Expect to see a gush of black, sticky and highly toxic opprobrium to be poured over BP and Royal Dutch Shell this week.
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