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BG Defeats all Estimations on High Prices

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BG Defeats all Estimations on High Prices

Written by Bernard Kayden
Friday, 02 May 2008
Beating all predictions to the contrary the BG Group recorded a 78% rise in its profits during the first quarter. As compared to the same period last year, its profits rose to £ 767 million from £ 432 million. It has really surprised the industry watchers, who were expecting a reverse scenario.<br><br> London(online-unsecured-loans) May 2, 2008: Powered by a 78% rise in the first quarterly profits the BG Group—helped by high gas & oil prices and surging production—has said that it wish to go for a $12 billion takeover bid for an Australian company. The proposed take-over is further expected to add to the productive arm of the company. BG's performance stands positively in comparison to 12% rise achieved by the Royal Dutch Shell and 48% increase achieved by BP in their profits during the same quarter. Boosted by 10% rise in gas prices and 70% increase in the prices of crude oil, BG's gas and oil production unit pocketed 50% rise in its profits. According to BG's sources the production of gas and oil rose by four percent to cross the figure of 674000 barrels per day. Further the company's LNG division also garnered tripled profits thanks to the high prices of Liquefied Natural Gas(LNG) in the Asian markets. Trading in LNG—the gas cooled to a liquid state so that it can be carried in ships—the company's LNG division made big profit margins by attracting cargo from the lower-end markets. For additional information on the news that is the subject of this release (or for a sample, copy or demo), contact Webmaster or visit http://www.online-unsecured-loans.co.uk/ Bookmark with: Delicious Digg reddit Facebook StumbleUpon What are these?

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