No boom time for Big Oil, but production up again: "Oil companies have begun to pump more petroleum and bring in more profits as they recover from an otherwise miserable year. None of the world's biggest producers, however, see a quick return to boom times of last year.America's thirst for fossil fuels dropped considerably during the recession and it hasn't come close to recovering fully. Throughout most of 2009, storage houses have been crammed with oil and gas.
Exxon Mobil Corp. said Thursday that net income slumped 68 percent to $4.73 billion, or 98 cents per share, when compared with the same July-September period in 2008, the most lucrative ever for the oil industry."
No comments:
Post a Comment