Oil profits unlikely to track oil price surge says analysts
Analysts say major integrated oil firms may post modest earnings gains despite crude and product price rises. Third quarter profits for top integrateds could rise about 17 percent, with spending up 15 to 20 percent next year as exploration and production budgets grow. Differences in business mix mean some independents like Oryx Energy show sharp revenue gains, while others face lower margins in refining and feedstock costs.
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New York Stock Exchange Listing Update
The report notes changes at the New York Stock Exchange with reference to Sinai and two entities involved. It highlights market movements and potential impacts on listed securities.
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Public Citizen Admits ITT Hartford Listing Error
Public Citizen conceded Friday it erred listing ITT Hartford Insurance Group among five property and casualty firms at risk if a recession hits. ITT Hartford said Public Citizen misflunked the test and clarified the mistake.
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