Shell profits up 25 pct on record high oil prices (http://afp.google.com/article/ALeqM5iftQ-7-T9grM4N1CDCNwSxyYla7Q)
April 29th 2008
LONDON (AFP)
BP's first-quarter profit jumps 63 percent (http://edition.cnn.com/2008/BUSINESS/04/29/britishpetroleum.profit.ap/)
LONDON, England (AP) -- BP has reported a 63 percent jump in profits in the first quarter compared to the same period a year ago.
The oil company on Tuesday reported a profit of $7.6 billion compared to $4.4 billion in the first quarter of 2007.
First-quarter profit was up 73 percent compared to the previous quarter.
BP's closely watched replacement cost profit rose 48 percent to $6.59 billion. This compared to US$4.44 billion in the first quarter of 2007.
But don't forget, the oil companies are not the ones to blame for the increase in oil/gas prices. It's the market! LOL