Tag Archives | Financial Reports

Libya helps give Italy's Eni a Q1 profit boost

Italy's largest energy company Eni SpA said Friday that its first-quarter profits rose 42 percent on increased production in Libya and higher prices. The Rome-based company said net profit for the first three months of 2012 was €3.62 billion ($4.78 billion), up from €2.55 billion in the same period last year, even though oil and […]

Tatneft 2011 Net Profit Rises 31.7% to $2.06 Bln

Tatneft, Russia's sixth largest crude oil producer, saw 2011 net profit jump 31.7 percent year-on-year to 61.428 billion rubles ($2.06 billion) to US GAAP, the company said in a statement on Monday. Revenue rose 31.6 percent in 2011 to 615.867 billion rubles, while pre-tax profit grew 33 percent to 85.909 billion rubles. The company's short-term […]

IHI raises revenue, despite Libyan storm

International Hotel Investments said today that it made a loss after tax of €10.7m last year, but despite the conflict in Libya, where it has a hotel, its revenues were still up. The group said the highlight of this year’s performance review was the conflict in Libya, where it has a hotel. "Ordinarily, one would […]

Pure Technologies Q4 profits, revenues sink on cessation of Libyan operations

Pure Technologies Ltd. says fourth-quarter profits plummeted, largely due to a halt of operations in Libya, a country rebuilding after a bloody civil war. The Calgary-based company, which provides technology for monitoring pipelines and other infrastructure, said Thursday that its profits sank to $1.4 million, or three cents per share, from $2.5 million, or seven […]

Wintershall aims for higher sales, profits in 2012

BASF subsidiary Wintershall said it expects to raise turnover and profit in 2012 provided this year's crude oil prices are the same as in 2011 and given that it reopened oil operations in Libya that caused losses last year. The oil and gas company said that it achieved turnover of 12.1 billion euros ($15.8 billion) last […]

Lower Libya Production Weighs On Repsol YPF Earnings

Spanish oil company Repsol YPF SA (REP.MC) said Wednesday its fourth-quarter net profit declined 90% on-year, thanks largely to extraordinary gains in the 2010 quarter from the sale of a stake in the company's Brazilian unit. Lower production in Libya, where operations restarted in the quarter after ceasing for the duration of that country's civil […]

Repsol profit hit by Libya conflict

Spanish oil company Repsol's net profit fell more steeply than expected in the fourth quarter as production was suspended in Libya by the uprising that overthrew Muammar Gaddafi. Repsol said on Wednesday it lost 220 million euros ($295 million) of production in Libya during the fourth quarter. Quarterly net profit, adjusted for one-off gains and […]

Saras Q4 hit by weak demand and Iran tension

Saras, one of Italy's leading refiners, said on Tuesday its core earnings in the fourth quarter fell 31 percent on weak demand due to the euro zone debt crisis and high oil prices fuelled by the growing tension over Iran. Saras, which currently uses about 10 percent of Iranian crude oils in its refinery mix, reiterated […]