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Shell reports 1970 first-half earnings drop
Shell Oil Co. reports first-half 1970 net income of 114.2 million dollars, 23 percent below the prior year, with earnings per share of 1.69 versus 2.19. Cause cited include low spirits prices, high taxes, and start-up costs at the Houston Olefins Plant. Six-month revenues total 2.118 billion, crude oil and NGL output up 5 percent to 569,000 barrels daily.
MENTIONED IN THIS ARTICLE
Shell Oil Co
Denis B. Kemball-Cook
Kemball-Cook
Houston