Exxon and Shell quarterly profits soar.

The two biggest non government-controlled oil companies in the world have relied on natural gas to drive production growth in the second quarter, a fuel that is traditionally less profitable than crude. Oil & Natural Gas Corp.'s profit may rise from this quarter after the government more than doubled natural gas prices and freed gasoline rates from state's control. Statoil ASA Thursday posted a 9.4% rise in operating profit, buoyed by an increase in production and higher oil prices, but the earnings were well below expectations and the company said the situation for deep-water drilling in the Gulf of Mexico is uncertain after BP PLC's massive spill.

Category:

News & Politics

Tags:

• oil companies
• natural gas
• crude
• Exxon
• Shell
• New Delhi
• Statoil ASA
• higher oil prices
• deep-water drilling
• Gulf of Mexico
• BP PLC's massive spill
• drilling moratorium
• oil spill update

[MinaVanner]

Save the rain forests from them...in South America, Ecuador!

[porscheghcje]

The Oil companies are trying their best to stop free energy ideas from spreading to common ppl.

We need to put an end to this corruption ,start generating your own electricity now.

Visit LT-MAGNET-MOTORdotCOM and get the blueprints . Join the Revolution!!