Shell and Total Results Buoyed By Higher Oil Prices. Results From Exxon And Chevron Are Expected On Friday

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Shell and Total reported strong increases in first-quarter earnings as higher oil prices and rising production accelerated recovery at Europe’s two largest energy groups. Shell’s profits jumped by 41 per cent to the highest level since oil was trading at $100 per barrel before the 2014 crash, while Total’s were up 13 per cent.  Meanwhile ConocoPhillips, the US exploration and production company, returned to profit during the three months to March and increased its output projections for the year in a further sign of confidence returning to the sector.  Thursday’s results followed buoyant numbers from Statoil of Norway on Wednesday, while ExxonMobil and Chevron of the US are expected to follow suit on Friday, after a quarter in which oil prices averaged almost $67 per barrel, 25 per cent higher than a year ago.
 

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Is anyone surprised by this? Robbery

 

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Big profits (not just for Shell and Total) on stronger oil prices..."Big guys" will fill their pockets

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Someone has put interesting point of his view on oil price decision matrix.

Are we rich? Yes, Raise prices.
Are we rich enough? Yes, Raise prices.
Are there crowds gathering with torches and pitchforks. No? Raise prices.
Are there crowds gathering with torches and pitchforks. Yes? Raise prices. 
Should we raise prices? Yes

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Partying like it's 2013: Shell, Total start 2018 on a high thanks to rising oil prices....Already seen.

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Yep. Big Oil earnings season starts:

Today: Shell and Total
Tomorrow: Exxon and Chevron
May 1 Tue: BP

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And there was me thinking the profit margin was the same no matter what the price at the pumps...

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Meanwhile we are paying more than ever for gas while we produce more oil than we import...that's called getting deeply down

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3 hours ago, franco said:

Shell and Total reported strong increases in first-quarter earnings as higher oil prices and rising production accelerated recovery at Europe’s two largest energy groups. Shell’s profits jumped by 41 per cent .....

Of course it did, the only people who lose money are the common working man and woman who get to pay for it all...

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So, Shell and Total had $7.1 billion in profits. This quarter! In comparison, Sunpower (whose largest shareholder is Total) is worth $1.3 billion.

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