IfEnergy

Norwegian Oil Profits

Filed in archive Capital Investing , Market , Peak Oil on May 9, 2006

Norwegian Oil Profits
With the price of a barrel of oil hovering around $70 dollars a barrel it's not just American companies making record profits. StatOil "Statoil's net income in the first quarter of 2006 amounted to 10.3 billion Norwegian Krone (NOK), compared to 6.8 billion NOK in the first quarter of 2005." Converted into U.S. dollars: 1st Qtr. 2006 1.67 billion - 1st Qtr. 2005 1.11 billion

This company's profit margin after expense is about 10.5%. Their 2006 1st Qtr. cash and equivalents as compared to the first quarter of last year realized a 34% increase.

Apparently, high prices are high times for oil companies everywhere. I wonder what percentage of their profits they situate into R&D to ensure not only their longevity but ours as well.?

Permalink: Norwegian Oil Profits

Tags: oil,  market 

Vote for Norwegian Oil Profits:

  • Currently 8.00/10
  • 1
  • 2
  • 3
  • 4
  • 5
  • 6
  • 7
  • 8
  • 9
  • 10
Rating: 8.00 out of 2 vote(s) cast.
 
Share It
RSSrss
Google google
Yahoo! yahoo
Addthis Subscribe using any feed reader!
Bloglines Bloglines
TwitterFollow us on Twitter!
Most Popular   Alternative Energy   Automobiles   Base Effort   Best of   Biofuel   Biogas   Biomass   Capital Investing   Carbon Neutral   Clean Coal   Current News   Did you know   Earth Science   Edge Technology   Electric Cars   Energy Efficiency   Fuel Prices   Future   Geothermal   Global Climate