PennyGovernance.com Equality on Stocks

Posts Tagged ‘royal dutch shell’

Reported by: Eric CRWE Newswire Middle East correspondent

China Petroleum & Chemical Corp (SNP) announced an increase of 6.7 percent for the first half of 2010. The Company reported a net profit of 35.46 billion yuan equivalent to US $ 5.2 billion for the first six months of 2010 as compared to net income of 32.90 billion yuan for the same period last year.

The Company’s total revenue surged by 75 percent to 936.5 billion yuan as compared to 534.0 billion yuan for the six month period last year. The Company’s operating profit jumped to 21.99 billon yuan as compared to 5.50 billion yuan last year. According to the oil giant the increase in profitability was due to substantial increase in oil prices. Selling price of its crude oil gained 98 percent to 3,363 yuan per ton as compared to last year figures and internationally crude oil prices gained 50 percent in the first 6 months of 2010 to $78 per barrel

The company’s refining business was down by 71 percent in the first half to 5.69 billion yuan from 19.90 billion yuan last year due to increased oil imports eventually reducing the company’s profit margin.

Sinopec has the largest capacity in Asia among refiners with more than 70 percent of its crude oil being imported the company booked heavy past losses. Though the company has posted exceptionally high profit for the last six months still it hasn’t been able to meet the performance by rival companies such as Chevron (CVX), Royal Dutch Shell (RDSA, RDSB) and Exxon Mobil (XOM).

********************************************************************

The Views and Opinions Expressed by the author are his or her opinions only and do not necessarily reflect those of this Web-Site or its agents, affiliates, officers, directors, staff, or contractors. The author at the time of this article did not own any shares or receive any consideration financial or otherwise from any company or person mentioned or referred to in the article.

THIS IS NOT A RECOMMENDATION TO BUY OR SELL ANY SECURITY! Disclaimer: Never invest in any stock featured on our site or emails unless you can afford to lose your entire investment. CRWENewswire.com publisher and its affiliates and contractors are not registered investment advisers or broker/dealers. Our disclaimer is to be read and fully understood before using our site, reading our newsletter or joining our email list. Release of Liability: Through use of this website viewing or using, you agree to hold CRWENewswire.com report and Crown Equity Holdings, Inc. CRWE, its operators, shareholders, employees and/or contractors harmless and to completely release them from any and all liability due to any and all loss (monetary or otherwise), damages (monetary or otherwise) that you may occur. (read more) Rule 17B requires disclosure of payment for investor relations.

By Mike Zaman

Chevron second quarter earnings showed a triple increase in earnings amid higher oil and natural gas costs for consumers. Does this mean we are being gouged by the oil companies?

Higher pump prices are being blamed on consumer demand, but is this true?

Exxon Mobil Corp. posted income of $7.56 billion in the quarter, Royal Dutch Shell Group boosted second-quarter earnings 15 percent, and ConocoPhillips said profits nearly tripled in the April-June period, and Chevron Corp. reported net income of $5.4 billion.

The real story: Oil consumption in the US has fallen in each of the past three years. So the higher prices at the pump are not based on supply and demand so much as plain gouging.

The US is the largest oil producer in the world producing some 7.196 million barrels per day (Mb/d), or 8.5% of the world’s total. This is more than Iran and Kuwait combined.

But with consumers strapped for vacation money, and lacking confidence in the economy, and the higher prices at the pump, there is no doubt we are being gouged. Perhaps if congress really cared they would pass an excess profit tax, surely that would help stave off some of these large deficits, actually it could help pay for all Americans health care.

The Views and Opinions Expressed by the author are his or her opinions only and do not necessarily reflect those of this Web-Site or its agents, affiliates, officers, directors, staff, or contractors. The author at the time of this article did not own any shares or receive any consideration financial or otherwise from any company or person mentioned or referred to in the article.

By Bobbie Katz

It’s going to be one heck of a grilling – with companies on the hot seat expected to be at separate tables from BP.

Top competitors such as Chevron, Exxon Mobil, ConocoPhillips, and Royal Dutch Shell are expected to distance themselves from BP as Oil Company executives are questioned by Congress on the worst environmental disaster in U.S. history.

As industry officials strive to separate themselves from BP at the hearing, lawmakers and investors will be looking for any sign that BP may have not followed generally accepted industry practices or may have cut corners, resulting in the oil rig explosion that has caused millions of gallons of oil to spew into the Gulf of Mexico since April 20. Oil executives are expected to attest to the safety of their individual operations as well as to their abilities to handle an incident akin to Deepwater Horizon.

Testifying on Tuesday will be BP American head Lamar McKay while on Thursday; BP CEO Tony Hayward will make his first appearance at a congressional hearing since the Deepwater Horizon accident.

Both BP and the future of U.S. offshore drilling have a lot at stake. Congress is considering legislation to address the worst oil spill in U.S. history, as well as considering increasing the penalties BP will face. The Obama administration is also coming under increasing pressure from the fallout from the accident, as the oil that is still ravaging the Gulf Coast is now hitting Florida.

It is possible that when he addresses the nation on Tuesday, President Obama could call for energy legislation and new oil safety provisions. He will also be meeting with BP Chairman Carl-Henric Svanberg on Wednesday to persuade him to set up an independently managed fund to pay damage claims.

Senate leaders have called on BP to make a $20 billion initial deposit into a fund to pay liability claims.

The Views and Opinions Expressed by the author are his or her opinions only and do not necessarily reflect those of this Web-Site or its agents, affiliates, officers, directors, staff, or contractors. The author at the time of this article did not own any shares or receive any consideration financial or otherwise from any company or person mentioned or referred to in the article.

South Shore Resources Inc. (Pinksheet: SSHO.PK) recently announced that it welcomes and supports the new national greenhouse gas auto emission and efficiency standards to be implemented in the United States and Canada.

The new regulations which were recently announced by both governments aim to cut carbon dioxide emissions from vehicles by 30 percent and increase fuel efficiency by 40 percent over the coming years.

SSHO believes these regulations illustrate the environmental and financial merits of the HyProStar Series of Hydrogen Generating Modules and its technology.

SSHO also believes that its HyProStar Series of Hydrogen Generating Modules are an obvious aftermarket alternative to Rising Fuel Prices and Harmful Greenhouse Gases.

Royal Dutch Shell PLC (NYSE:RDS.B) received notice on 10th June 2010 from Simon Henry, a Director of the Company, that on 10th June 2010 he purchased 10,000 Royal Dutch Shell B shares of Euro 0.07 each at a price of Euro 22.49 per share.

RDS is a global group of energy and petrochemicals companies with around 101,000 employees in more than 90 countries and territories. Our innovative approach ensures we are ready to help tackle the challenges of the new energy future.

To meet the energy challenge RDS is, for example, using advanced technologies to unlock oil and gas in more remote or hostile environments, and new techniques to extend the lives of existing fields. RDS is increasing production from unconventional sources, including oil sands. And they are part of wind projects.

RDS helps to make the most of cleaner-burning natural gas through their liquefied natural gas and gas-to-liquids products. Already one of the world’s largest suppliers of biofuels, they are working to on advanced biofuels from sources such as straw and algae and to make their biofuels as sustainable as possible.

Sign up for free stock alerts at http://pennygovernance.com/signup
***************************************

THIS IS NOT A RECOMMENDATION TO BUY OR SELL ANY SECURITY!

Disclaimer: Never invest in any stock featured on our site or emails unless you can afford to lose your entire investment. PennyGovernance.com publisher and its affiliates and contractors are not registered investment advisers or broker/dealers. Our disclaimer is to be read and fully understood before using our site, reading our newsletter or joining our email list. Release of Liability: Through use of this website viewing or using, you agree to hold PennyGovernance.com report and Crown Equity Holdings, Inc. CRWE, its operators, shareholders, employees and/or contractors harmless and to completely release them from any and all liability due to any and all loss (monetary or otherwise), damages (monetary or otherwise) that you may occur. (read more) Rule 17B requires disclosure of payment for investor relations. Crown Equity Holdings, Inc. (CRWE.OB) has received fifty thousand dollars from a third party (Fassi SA) for thirty days of advertisement services for South Shore Resources Inc. (SSHO.PK)

***************************************