April 1998

Trends and Resources

HP Impact: HPImpact: Oil and gas production operations boost 1996 net income of majors

Net income of two dozen major U.S. energy companies* was a record $32.0 billion in 1996, with overall profitability reaching the highest level since the oil price escalations of 1979-1981, according t..

Weirauch, Wendy, Hydrocarbon Processing Staff

Net income of two dozen major U.S. energy companies* was a record $32.0 billion in 1996, with overall profitability reaching the highest level since the oil price escalations of 1979-1981, according to data collected by the Energy Information Administration (EIA). The 24 "majors" surveyed had 1996 sales of $541 billion, produced over half of U.S. total crude oil and natural gas liquids and 43% of U.S. natural gas, and owned nearly two-thirds of U.S. refining capacity. Data published in EIA's Performance Profiles of Major Energy Producers 1996 reveals that 85% of the operating revenues of these major companies derives from energy sales. The rest comes from chemicals. The inc

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