Cairn Energy sees profits slide
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British oil and gas firm Cairn Energy has seen profits drop 40%, but reports strong reserves in its Indian oil fields.
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Britain's FTSE 100 (.FTSE) index of  leading shares reversed early gains on Thursday as commodity  stocks weighed, but Cairn Energy  topped the leaderboard  after a successful share placement.
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British energy giant BP has said that net profits dipped in 2006, reflecting a decline in production and refining margins, despite record peaks for crude oil prices in the middle of the year.
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Oil giant BP Plc saw its third-quarter  profits reduced by energy trading losses after its dealers got  on the wrong side of volatile markets.
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Noble Energy Inc.  said on Thursday its fourth-quarter profit fell as weakness in natural gas prices weighed on results.
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The company said its third-quarter net income fell 29 percent as lower refining margins and gas prices were exacerbated by disruptions at some refineries.
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Diageo, the world&#39;s biggest maker of alcoholic drinks, said on Thursday that group net profit slid by 22 percent in 2006/07 from its previous financial year as the company was hit by higher taxes.
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Chevron Corp. , the No. 2 U.S.  oil company, said on Friday its fourth-quarter profit fell,  pulled down by weaker natural gas prices and refining margins.
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Alcoa Inc.AA.N, the world's biggest  aluminum producer, said on Monday its quarterly net profit  slipped because of higher energy costs, a weaker dollar and a  charge it took for selling some of its businesses.
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Oil company Cairn Energy is set to be demoted from the FTSE 100, following the latest reshuffle of the share index.
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Annual results show a drop in profits despite better efficiency.
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Oil giant BP sees its latest profits fall 12% after it was hit by lower oil prices and higher safety spending.
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Fourth-quarter profit fell by 9 percent as energy prices declined, but the company still ended up with its third consecutive year of record earnings.
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LONDON: British oil and gas firm Cairn Energy is on the verge of entering the elite group of blue-chip companies (FTSE-100). It&#39;s saluting its Rajasthan reserves of oil for rising fortunes.
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Shares in Britain&#39;s Cairn Energy, which have soared on a series of oil discoveries in India, plunged by one-fifth on Friday on worries about a tax dispute with the Indian government and a lack of new finds.
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Chevron Corp. , the No. 2 U.S. oil company, said on Friday its fourth-quarter profit fell, pulled down by weaker natural gas prices and refining margins.
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British oil giant BP announced a fall in net profit in the three months to June following 24 months of continuously falling production despite strong world demand for energy.