High Energy Prices Ensure Strong Q2 Results

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"Results from oil majors showed a flurry of telephone-style profits and a sector in rude financial health despite some underlying anxiety."

OilBarrel.com

Last week saw the release of Q2 results from the oil majors, a flurry of telephone-style profits numbers which showed a sector in rude financial health despite some underlying anxiety about the massive investments and corporate rethinks required to continue to grow production and reserves. The quarterly profits bonanza is hardly surprising given surging oil and gas prices and the week generated the usual crop of headlines comparing inflated profits to the pain of hard-pressed consumers. . .View full article

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