Financial News for Major Energy Companies, Third Quarter 2010

“Financial News for Major Energy Companies (the News)” is a report on the recent financial performance of major U.S. oil and natural gas companies. Twenty U.S. majors collectively reported $17.4 billion of net income in the third quarter of 2010, which was 32-percent more than the $13.2 billion these companies reported for the third quarter of 2009 (but 41 percent less than their third-quarter average over the 2005-2009 period, after adjusting for inflation).

 

The leading operations, in terms of net income, for the U.S. majors during the third quarter of 2010 were foreign oil and natural gas production, U.S. oil and natural gas production, and worldwide chemicals, which generated contributions to net income of $9.6 billion, $5.7 billion, and $1.6 billion, respectively. All of the lines of business of the U.S. majors tracked by the News recorded higher earnings in the third quarter of 2010 than during the third quarter of 2009.

The data presented are for the July through September time period of 2009 and 2010 and are collected from company press releases. The next issue of the News, covering the October through December time period of 2009 and 2010, will be released in February 2011.

More here.

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