Murphy Oil Announces First Quarter 2010 Earnings


The article actually talks about Murphy Oil in general, but there topics of interest to Malaysians as well:

Oil production declined in Malaysia in the 2010 quarter compared to 2009 due to a lower percentage of the Kikeh field’s gross production being allocatable to the Company under the production sharing contract. But this impact was somewhat offset in Malaysia by new condensate volumes associated with a natural gas field offshore Sarawak.

…

The charges in 2010 were generated due to a combination of a stronger U.S. dollar versus the British pound and a weaker dollar versus the Malaysian ringgit. The stronger U.S. dollar led to foreign currency losses on dollar based liabilities in the sterling functional U.K. downstream operations, and the stronger Malaysian ringgit led to foreign currency losses on ringgit based income tax liabilities in the dollar functional Malaysian oil and gas operations.

This entry was posted on Friday, May 14th, 2010 at 10:47 am and is filed under Malaysia, oil and gas. You can follow any responses to this entry through the RSS 2.0 feed. You can leave a response, or trackback from your own site.

One Response to Murphy Oil Announces First Quarter 2010 Earnings

  1. oil gas engineer – Latest oil gas engineer news – oil jobs, oil and gas jobs | Green Eco Path says:
    July 15, 2010 at 8:46 am

    […] Murphy Oil Announces First Quarter 2010 Return « Wata … […]

    Reply

Leave a comment