Forums
RSS
Dealers
Shell Oil Profits Amount to $119 Million Per Day in Third Quarter
Email this page to your friend:
The world's second largest non-government-controlled oil company saw a 1 percent rise in third-quarter oil production yet enjoyed sales prices some 66 percent higher than for the same quarter last year, according to Carscoop. This amounts to net profits of about $119.7 million per day for the oil giant, well in excess of what analysts had forecast.
Competitor British Petroleum (BP) recently posted a 148 percent increase in third-quarter profits--$10.5 billion in all--causing so much public fury that British Prime Minister Gordon Brown urged oil companies to pass along decreased oil prices to the consumer. BP's terse response included the fact that it is Britain's largest taxpayer and pays fortunes in excise duty and VAT on top of taxes.
Are the oil companies laughing all the way to their failing banks, or do they use their windfall profits for investment in new technology and environmental sustainability? Shell, for example, has pioneered synthetic GTL (Gas to Liquid) diesel fuel, which slashes most emissions and completely eliminates sulphur oxide emissions in concert with new high-tech clean diesel engines such as that in Audi's A6 2.0 TDIe. Of note, it was Shell synthetic diesel that powered Audi's R10 TDI diesel LeMans-winning race cars, a first for Audi, for Shell, and for synthetic diesel fuel.--Colin Mathews
---
Make sure you check out our partner sites dedicated to focused news, reviews and more for Ford, Chevrolet, Toyota, Honda, and the Toyota Prius.
Competitor British Petroleum (BP) recently posted a 148 percent increase in third-quarter profits--$10.5 billion in all--causing so much public fury that British Prime Minister Gordon Brown urged oil companies to pass along decreased oil prices to the consumer. BP's terse response included the fact that it is Britain's largest taxpayer and pays fortunes in excise duty and VAT on top of taxes.
Are the oil companies laughing all the way to their failing banks, or do they use their windfall profits for investment in new technology and environmental sustainability? Shell, for example, has pioneered synthetic GTL (Gas to Liquid) diesel fuel, which slashes most emissions and completely eliminates sulphur oxide emissions in concert with new high-tech clean diesel engines such as that in Audi's A6 2.0 TDIe. Of note, it was Shell synthetic diesel that powered Audi's R10 TDI diesel LeMans-winning race cars, a first for Audi, for Shell, and for synthetic diesel fuel.--Colin Mathews
---
Make sure you check out our partner sites dedicated to focused news, reviews and more for Ford, Chevrolet, Toyota, Honda, and the Toyota Prius.
Responses (5 total)
By chuck | Posted: Oct 31st 2008, 08:35:18 PM
Again, w/ all the other oil profits, etc
Please send to all the relevant people who can prevnt more damage b4 bush leaves office, cost us more, etc.
By Ed | Posted: Oct 30th 2008, 07:43:12 PM
I should say 8% on sales, not equity.
By Ed | Posted: Oct 30th 2008, 07:42:08 PM
Marty is quite correct, obviously, and, in addition,
Oil cos are VERY cyclical, most of the time their profits are lousy, and they are waiting for times like these to make most of their $.
If you average them out over time, they have tiny profits, really.
Even now with huge increases in oil prices, they make 8% on equity, while the Big Drug makers make 18% (but at least they save millions of lives with their products) and the worthless BANKS make 20%!!!!!
By Tom L | Posted: Oct 30th 2008, 06:53:17 PM
Here you go:
http://money.cnn.com/magazines/fortune/fortune500/2008/full_list/
Microsoft is at 44 and has profits of 14,065 (in millions) on revenues of 51,122. Exxon has profits of 40,610 for revenues of 372,824. So Marty, I'd say you're right. (to the tune of 17% difference)
By Marty Padgett | Posted: Oct 30th 2008, 06:28:18 PM
These stories drive me crazy. It's profit margin that matters - and I bet the Shell margin in Q3 was the same as Q2, which no doubt is less than Microsoft's profit margin, which no one howls about.
Post a comment: