ThisIsLondon.co.uk: Companies reporting next week: “On Thursday, Shell is expected to turn in net income of $4.3bn (£2.35bn) against $2.9bn (£1.6bn) last time. In a results announcement that analysts say is likely to be a sideshow to the group's reserves crisis and its corporate governance review in November, Shell will say it benefited from well-performing downstream operations and higher oil prices.” (ShellNews.net)

Results diary, This Is Money

Posted 23 October 2004

EXTRACT FROM ARTICLE

OIL giants Shell and BP will give investors more to consider than just fluctuating oil prices next week, with both reporting third quarter figures.

On Thursday, Shell is expected to turn in net income of $4.3bn (£2.35bn) against $2.9bn (£1.6bn) last time.

In a results announcement that analysts say is likely to be a sideshow to the group's reserves crisis and its corporate governance review in November, Shell will say it benefited from well-performing downstream operations and higher oil prices.

However, it is expected to say it has lost output following Hurricane Ivan, maintenance in the North Sea and disposals.

On Tuesday, BP is expected to report third quarterly net income of $4bn (£2.2bn), compared with $2.8bn (£1.5bn) the year before.

Quarterly earnings are tipped to benefit from a 46% improvement in oil prices, although production excluding BP's Russian oil venture TNK-BP is set to be about 4.5% lower than the second quarter due to hurricanes and planned shutdowns.

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