Profits | Egypt Oil & Gas - Part 4
Shell Posts Weak Q2 Profit, Plans to Cut Jobs
European oil giant Royal Dutch Shell Thursday reported a sharp fall in its profit for the second quarter, hit by the plunge in oil and gas prices. Further, the company said separately that it plans to eliminate 6,500 ...
Sipchem Profits Tumble More than Expected
Saudi International Petrochemical Co (Sipchem) reported a 55% drop in second-quarter profit on Monday, missing analyst forecasts as its earnings were hit by plant closures and falling product sales prices. Sipchem mad...
PetroRabigh Profits Strong and Steady Despite Oil Prices
Saudi Arabia’s PetroRabigh on Monday said its second-quarter net profit nearly tripled as margins on some of its products improved. The firm, a joint venture between Saudi Aramco and Japan’s Sumitomo Chemi...
The Rise and Decline of SABIC Petrochemicals Profits
Saudi Basic Industries Corp (SABIC), one of the world’s largest petrochemicals groups, reported a 4.5% drop in second-quarter net profit on Sunday, a much smaller decline than analysts had forecast. SABIC made a...
Saudi Petrochemical Profits Fall Below Expected
Saudi Arabia’s Yanbu National Petrochemical Co (Yansab) reported a 63% fall in second-quarter net profit on Tuesday but beat analysts’ forecasts slightly. The firm, a subsidiary of Saudi Basic Industries C...
IPIC Profits Gyrate Due to Low Oil Prices
Abu Dhabi’s state-owned International Petroleum Investment Co (IPIC) reported on Wednesday a 37% drop in net attributable profit for 2014 as low oil prices hurt earnings. IPIC, whose board was revamped this year...
Dana Gas Projects in Egypt Continuing Despite Oil Price Crunch
Sharjah-based Dana Gas reported lower sales and profit in the first quarter, as cost-cutting wasn’t enough to mitigate the effects of lower oil and gas prices, but senior executives see improvements ahead. Dana Gas, w...
Job Cuts, Profit Losses Hit Oil Sands Industry in Canada
Suncor Energy Inc., Canada’s largest oil company, reported a first-quarter loss after crude prices plunged to the lowest since 2009. The oil-sands producer lost C$341 million ($283 million), or 24 cents a share, compa...
