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Higher margins for its fuels and more crude oil processed at its plants propelled Valero Energy Corp. to a 28 percent increase in net income in the first quarter, the company said Tuesday.
Halliburton says it was profitable in the first-quarter after reporting a loss for the period a year ago.
Rising demand for more advanced oilfield technology to tap hard-to-reach crude around the world spurred a record first-quarter profit for Schlumberger Ltd.
Royal Dutch Shell Plc Chief Executive Officer Ben van Beurden promised to slash capital spending and accelerate asset sales to revive earnings at Europe’s largest oil producer.
Occidental Petroleum Corp., the biggest oil producer in Texas, said fourth-quarter profit rose as Chief Executive Officer Stephen I. Chazen pursues a breakup after a shareholder revolt last year.
Enterprise Products Partners distributed $2.74 per unit to its investors last year, the Houston pipeline company said in announcing fourth-quarter and full-year financial results.
Valero Energy Corp.’s fourth-quarter earnings rose 30 percent, boosted by last year’s spinoff of its retail stations.
Increased oil company spending on well completions drove Halliburton Co.’s profits up 19 percent million in the fourth quarter as Middle Eastern and Asian markets continued to see high drilling activity, the company reported Tuesday.
Market share gains in active drilling markets like the Middle East and Africa pushed Baker Hughes’ profit up 16 percent to $248 million in the fourth quarter, the company reported Tuesday.
Exxon Mobil Corp.’s quarterly profit fell 18 percent from last year, but the oil and gas giant still made nearly $8 billion in three months.