KFT, COP, RDS : 05/07 More Important Updates Brought To You By CRWE Finance
Friday, 7. May 2010
ConocoPhillips, (NYSE:COP), http://www.conocophillips.com, Yesterday reported oil prices are still tumbling as they reached $79.98 a barrel following growing concern about the European debt crisis in Greece and other southern countries. Another oil spot of environmental proportion staining the oil market this week is the massive oil spill in the Gulf of Mexico. This disaster so far has not had a major impact on oil prices. Current prices are still close to $20 higher than a year ago.
Higher prices are one of the key factors that drives oil companies profits up and this was quite apparent for many major integrated oil and gas companies such as ConocoPhillips (NYSE:COP) which reported a profit of $2.1 billion or $1.40 per share as compared to $840 million in the same quarter in 2009. Oil prices experts believe that the current value of oil per barrel is not a fair representation of the demand versus supply, but rather speculators at play. A fair value of oil at this time is estimated at $60 per barrel. According to industry projections, oil could move to the $100 benchmark in the next 2 to 3 years. However, should such a surge in oil prices occur in 2010 the impact on the recovering economy could be overwhelming as consumer confidence would take a serious blow.
Royal Dutch Shell Plc, (NYSE:RDS-A), http://www.royaldutchshellplc.com, Recently announced Shell Singapore (NYSE:RDS-B) is meeting Asia’s growing demand for petrochemicals. Shells largest integrated refinery and petrochemicals complex is now fully online. The multi-billion dollar project in Singapore boosts the supply of raw materials for many everyday products and uses ultra-efficient Shell technology. The site is already supplying products to Asian growth markets and to manufacturers in Singapore. It is a cornerstone of Shell’s strategy to focus on growth and profitable downstream markets.
Output from the site includes mono-ethylene glycol (MEG), the raw material needed to make everything from plastic packaging to polyester clothing. It has the capacity to meet nearly 6% of Asia’s demand for this raw material, or enough to make almost 7 billion polyester shirts a year. The MEG plant uses the new award-winning technology developed by Shell, called OMEGA (Only MEG Advantage). It is a fully catalytic process for the conversion of ethylene into MEG instead of a conventional thermal process and produces more MEG per tonne of ethylene than any other technology in the industry. This process saves shipping and storage costs as it creates virtually none of the other raw materials that come from thermal conversion. It also consumes about one-fifth less steam and generates about 30% less waste water.
Kraft Foods Inc., (NYSE:KFT), http://www.kraft.com, Today reported strong first quarter 2010 results driven by good operating momentum in every geography. Volume/mix improved sequentially from the fourth quarter 2009 and contributed significantly to income growth and margin expansion for Kraft Foods’ base business. Combined Organic Net Revenues(1) grew 3.9 percent, reflecting 3.3 percent organic net revenue(1) growth of Kraft Foods’ base business and 8.2 percent organic net revenue growth of Cadbury.
Kraft Foods’ base business growth was driven by 3.1 percentage points from volume/mix and 0.2 percentage points from pricing. The benefit of earlier shipments of Easter products versus the prior year added approximately one-half percentage point to the combined company’s organic growth. Net revenues increased 7.3 percent, including a 4.6 percentage point impact from the Cadbury acquisition and a favorable 1.9 percentage point impact from currency. Combined Organic Net Revenues(1) increased 1.3 percent reflecting 1.1 percent organic net revenue(1) growth of Kraft Foods’ base business and 6.4 percent organic net revenue growth of Cadbury. Earlier shipments of Easter products had a favorable impact of approximately one-half percentage point versus the prior year.Kraft Foods’ base business growth was driven by volume/mix gains of 1.5 percent.
Pricing in the quarter declined due to a negative 0.6 percentage point impact from lower price levels in response to lower dairy costs. Growth in the quarter was also tempered by lower natural cheese volumes and a significant year-over-year decline in merchandising at a key North American customer. However, earlier shipments of Easter products partially offset this impact.
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