Futures Markets
ExxonMobil publishes extended profits
ExxonMobil today reported Q4 net profits of $8.42bn, representing an increase from Q3 earnings of $5.68bn, which were especially inflated by rising oil prices.
Despite slowed productivity in 2004, the world’s largest listed oil company still reported full year net profits of $25.3bn for 2004.
Although general market expectations were surpassed, the company warned that rising commodity […]
Iraqi elections pass safe: oil markets relieved
The markets were generally relieved to see the Iraqi elections pass off relatively quietly yesterday, with little disruption of oil supplies from Iraq, or its distribution facilities. As a consequence, crude feel to its lowest level for 3 weeks.
Speaking in Vienna, The Organization of Petroleum Exporting Countries (OPEC) president, Sheikh Ahmad Fahd al-Ahmad al-Sabah, also […]
US companies win Libya licences
The first open licence auction in Libya has ended, with US companies awarded the majority of contracts.
It will mean the return to oil prospecting in Libya - the source of Africa’s richest oil deposits - by companies, such as Occidental and Chevron Texaco, for the first time in over 20 years.
Surprisingly, no European companies […]