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Oil companies 'clicking on all cylinders' in the third quarter.
- Article from:
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Dallas Morning News (Dallas, TX)
- Article date:
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October 27, 2005
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Copyright informationCOPYRIGHT 2005 The Dallas Morning News. This material is published under license from the publisher through the Gale Group, Farmington Hills, Michigan. All inquiries regarding rights should be directed to the Gale Group. (Hide copyright information)
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Byline: Elizabeth Souder
Oct. 27--If you've been cursing big oil companies when you fill up at the gas pump these past few months, check your retirement portfolio.
Owners of oil company stakes -- even folks with a few shares in mutual funds -- hit the big one in the third quarter.
Two of the world's largest oil companies, ConocoPhillips and BP, already reported leaps in profit for the third quarter this week. Irving-based Exxon Mobil and Royal Dutch Shell are expected to report big profits on Thursday, and Chevron will chime in on Friday.
"They're clicking on all cylinders," said Fadel Gheit, an oil analyst with Oppenheimer in New York. "Exxon Mobil is going ...
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