BG Group strike lucky with profits


Natural gas and oil company BG Group has posted a 53 per cent rise in second quarter operating profits of £752 million.

The UK-based firm, which was created in the demerger of British Gas, saw its operating profit for the past six months increase by 75 per cent in turn.

BG Group carries out gas and oil exploration and production (E and P) in sites around the world, but reported particular yield success in Egypt and the North sea.

Frank Chapman, the company's chief executive, said: "BG Group has delivered another strong performance. Operating profit for the half year is up 75 per cent, driven by outstanding growth in E and P volumes and contracted LNG (liquid natural gas) supply, together with higher realisations.

"We continued to add to our exploration portfolio, and made good progress on key projects keeping our growth programme on track."

Production rates of oil rose to 611,000 per day compared to 490,000 in the corresponding period last year, with profits swelled by continually high raw material prices.

Bookmark with:
Bookmark with: Digg Digg Bookmark with: Delicious Bookmark with: Reddit Reddit Bookmark with: StumbleUpon StumbleUpon Bookmark with: Google Google Bookmark with: Technorati Technorati Bookmark with: Netvouz Netvouz

Latest News:

Search News
News Front Page
Accountancy / Tax
Advertising / PR
Armed Forces
Aviation / Aerospace
Banking / Finance
Charities / Voluntary
Childcare / Youth
Construction / Property
Customer Services
Education / Training / Teaching
Emergency Services
Engineering / Electronics
Entertainment / TV / Theatre
Graduate Roles
HR / Recruitment
Health / Beauty
Hotel / Catering / Restaurants
IT / Internet
Insurance / Pensions
International / Overseas
Management / Business
Manufacturing / Industry
Media / New Media / Creative
Medical / Healthcare
Pharmaceutical Industry
Public Sector
Retail / Wholesale
Sales / Purchasing / Marketing
Science / Technology
Secretarial / PA / Admin
Skilled / Semi-skilled Manual
Transport / Logistics
Travel / Tourism / Leisure