Muscatine

shell oil

Type Public
(LSE: RDSA / RDSB)
(NYSE: RDS.A / RDS.B)
Founded 1907
Headquarters The Hague, Netherlands
Key people Jeroen van der Veer, CEO
Jorma Ollila, Chairman
Industry Oil and gas
Products Oil, natural gas, petrochemicals
Revenue US$355.782 billion (2007)
Operating income US$44.628 billion (2006)
Profit US$27.311 billion (2007)
Employees 112,000
Website www.shell.com

exxonmobil
Type Public (NYSE: XOM)
Founded 1999 (merger)
1911 (Standard Oil of New Jersey)
1911 (Standard Oil of New York)
1870 (Standard Oil)
Headquarters Irving, Texas, USA
Key people John D. Rockefeller, founder & chairman of the original Standard Oil
Rex W. Tillerson, Chairman/CEO
Industry Oil and Gas
Products Fuels, Lubricants, Petrochemicals
Revenue $404.5 Billion USD (2007)
Net income $40.6 Billion USD (2007)
Total assets $219.015 Billion USD (2006)
Total equity $113.844 Billion USD (2006)
Employees 106,100 Including Company Operated Retail Sites (''CORS'')[1]
Slogan ''Taking on the world's toughest energy challenges'', ''We're drivers too'', ''Understanding Energy''
Website www.exxonmobil.com

haliburton

Halliburton Profits Skyrocket On Iraq Deals

Thu Jul 31, Financial Times

By Sheila McNulty in Houston

Halliburton, the second biggest oilfield service company in the world, on Thursday said work in Iraq had boosted revenue as it swung from a loss to record second-quarter net income of $26m , or 6 cents a share, compared with the year-earlier period.

The Houston-based company credited the quarter's 11 per cent rise in revenue, to $3.6bn largely to increased activity in its Engineering and Construction Group (ECG) projects, including government services work in the Middle East.

The second quarter of 2002, to which this past quarter's results were compared, included charges for asbestos liabilities, losses at its Barracuda-Caratinga project in Brazil and restructuring and sales charges.

Halliburton is in the process of finalising a $4bn settlement of asbestos claims. The Barracuda-Caratinga project continues to weigh on its results, with a $173m pre-tax loss on the project in the second quarter of 2003.

Nonetheless, the results this past quarter included a foreign exchange gain of $19m because of a significant strengthening of the British pound against the US dollar during the period.

''We expect earnings per share from continuing operations for the third quarter to be at least 32 cents per share, excluding any impact of the proposed asbestos settlement,'' David Lesar, Halliburton chairman, president and chief executive, said.

The company's ECG revenues increased 23 per cent, with government services more than doubling, mainly because of activity in Iraq.

Nonetheless, ECG recorded an operating loss of $148m, narrower than the loss of $450m in the year-earlier quarter.

That was because Halliburton had taken a $330m asbestos charge in 2002 and this year had recorded heightened activity in Iraq.

Halliburton ended the second quarter with cash and equivalents of $1.9bn, up from $1.1bn at the end of 2002.

haliburton profits

Firms with Bush-Cheney ties clinching Katrina deals
10 Sep 2005 14:54:50 GMT
Source: Reuters
WASHINGTON, Sept 10 (Reuters) - Companies with ties to the Bush White House and the former head of FEMA are clinching some of the administration's first disaster relief and reconstruction contracts in the aftermath of Hurricane Katrina.

At least two major corporate clients of lobbyist Joe Allbaugh, President George W. Bush's former campaign manager and a former head of the Federal Emergency Management Agency, have already been tapped to start recovery work along the battered Gulf Coast.

One is Shaw Group Inc. and the other is Halliburton Co. subsidiary Kellogg Brown and Root. Vice President Dick Cheney is a former head of Halliburton.

Bechtel National Inc., a unit of San Francisco-based Bechtel Corp., has also been selected by FEMA to provide short-term housing for people displaced by the hurricane. Bush named Bechtel's CEO to his Export Council and put the former CEO of Bechtel Energy in charge of the Overseas Private Investment Corporation.

Experts say it has been common practice in both Republican and Democratic administrations for policy makers to take lobbying jobs once they leave office, and many of the same companies seeking contracts in the wake of Hurricane Katrina have already received billions of dollars for work in Iraq.

Halliburton alone has earned more than $9 billion. Pentagon audits released by Democrats in June showed $1.03 billion in ''questioned'' costs and $422 million in ''unsupported'' costs for Halliburton's work in Iraq.

But the web of Bush administration connections is attracting renewed attention from watchdog groups in the post-Katrina reconstruction rush. Congress has already appropriated more than $60 billion in emergency funding as a down payment on recovery efforts projected to cost well over $100 billion.

''The government has got to stop stacking senior positions with people who are repeatedly cashing in on the public trust in order to further private commercial interests,'' said Danielle Brian, executive director of the Project on Government Oversight.

Those of us who

were smart enough to buy a large number of stocks in Exxon, BP, Shell and other oil producers way back when gas was $1.20 per gallon are quite pleased with these profits since a good amount of them will end up in our pockets at the end of each dividend period.