Second Quarter 2008 Key Findings
Net Income
$30.4 billion
Revenues
$423.4 billion
Highlights
The 19 major domestic energy companies reported a 1-percent decline in net income relative to second quarter of 2007. However, this also represents a 31-percent increase relative to the second-quarter average for 2003-2007.
Return on sales (net income ÷ revenue) fell from 10.5 percent to 7.2 percent in the second quarter of 2008 due to the 44 percent increase in revenue.
The effects of higher oil and natural gas prices are more than offset by lower worldwide oil production and worldwide refining margins.
Net Income
$30.4 billion
Revenues
$423.4 billion
Highlights
The 19 major domestic energy companies reported a 1-percent decline in net income relative to second quarter of 2007. However, this also represents a 31-percent increase relative to the second-quarter average for 2003-2007.
Return on sales (net income ÷ revenue) fell from 10.5 percent to 7.2 percent in the second quarter of 2008 due to the 44 percent increase in revenue.
The effects of higher oil and natural gas prices are more than offset by lower worldwide oil production and worldwide refining margins.
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