Producers, refiners post improved second-quarter 2010 earnings

摘要

Stronger crude oil and product prices in the second quarter of 2010 lifted the combined earnings of a group of US and Canadian oil and gas producing companies and refiners from rather dismal results in second-quarter 2009. The second-quarter earnings of a sample of service and supply firms also climbed, up 9% from a year earlier, while their combined net income for the first half of this year declined 15% from first-half 2009. Refining margins improved in the recent quarter compared with those in the second quarter of 2009. Encana said its second-quarter operating earnings were down 83% from a year earlier largely due to a quarter-over-quarter decrease in average realized prices to $5.74/Mcfe from $7.05/Mcfe.