Oil firms 'set for profits boost'
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BP and Shell are on track to unveil record quarterly profits helped by surging world oil prices, press reports claim.
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BP's annual profits rise 26% to $16.2bn (Â£8.7bn) as the firm benefits from soaring oil prices.
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Oil Giant BP Plc reported bumper  third-quarter profits thanks to high oil prices, but its higher  capital expenditure plans raised some concerns about the size  of future share buybacks.
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Annual profits rise sharply at oil giant Chevron but a slump in gas prices leads to a drop in profits in the final quarter.
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Oil prices hit record highs on  Thursday, fueling gains in some energy stocks, but fears that  high power costs will dent household incomes, raise firms'  expenses and hurt global growth weighed on Asian share markets.
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Stocks gained on Friday as shares of energy companies got a boost from rising oil prices.
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Oil services firm reports record profits but hints the fourth quarter won't be as rosy
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World oil prices shot higher on Monday  as companies operating in the Gulf of Mexico braced for output  disruptions from powerful Hurricane Ivan.
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NEW YORK - Investors are expected to focus on oil prices and corporate earnings outlooks this week, and the slightest warning about company revenues could weigh on stocks.
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Shares on Wall Street are expected to  open higher on Tuesday, as stronger oil prices are likely to  underpin energy stocks and investors bet on strong earnings  from network equipment maker Cisco Systems .
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ChevronTexaco Corp., the No. 2 U.S.  oil company, on Friday said quarterly profit jumped, driven  largely by a sharp rise in oil and gas prices.
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MAKE hay while the sun shines, they say. Or, in the oil majorsâ case, pump oil while the price rockets. BP yesterday, and no doubt Shell tomorrow, are doing just that, with profits going through the roof
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Business & money: Firm will raise electricity rates by 9.7% and gas prices by 15% from tomorrow
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Financial results from major US firms will this week give investors an indication of how sky-high oil prices are affecting the economy.
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The French oil giant said fourth-quarter profit rose 62% to 3.6 billion euros ($5.23 billion) as oil prices rose and and new projects in Angola and Qatar raised production.
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HOUSTON -- Oil giant Exxon Mobil Corp. said yesterday it will spend some of its record profits on more than 20 new global projects in the next three years, investments expected to add 1 million oil-equivalent barrels a day to the company's volumes at peak production.
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Oil giant Shell is reportedly set to announce the largest profit in UK corporate history on the back of record oil prices.