BG Group offsets production drop with higher gas prices

first_img GAS explorer BG Group beat analyst forecasts yesterday with a 13 per cent rise in fourth-quarter earnings, with higher gas and oil prices offsetting a dip in production. Earnings for the last three months of 2010 rose 13 per cent to $1.06bn, (£659m) though pre-tax profit fell 2.7 per cent to $1.45bn on last year, including charges from disposals and impairments. Revenues rose one per cent to $4.3bn, supporting an 11 per cent rise for the year to $17.2bn. Production volumes fell slightly short of forecasts, falling two per cent in the quarter to 60.7m barrels of oil equivalent, but a 22 per cent rise in global gas prices more than made up for the drop. The firm has raised its full-year dividend by 10 per cent to 21.6 cents per share and repeated its goal to grow by six to eight per cent a year until 2020 after raising estimates for its US shale gas and Brazilian explorations. Morgan Stanley said: “Investors can focus on what is again an exceptionally positive strategy update… targets and resource numbers have not just been reiterated, but in many cases raised by some margin.”BG shares rose 2.1 per cent to 1,470p. by Taboolaby TaboolaSponsored LinksSponsored LinksPromoted LinksPromoted LinksYou May LikeMisterStoryWoman Files For Divorce After Seeing This Photo – Can You See Why?MisterStoryTotal PastThe Ingenious Reason There Are No Mosquitoes At Disney WorldTotal PastZen HeraldNASA’s Voyager 2 Has Entered Deep Space – And It Brought Scientists To Their KneesZen HeraldSerendipity TimesInside Coco Chanel’s Eerily Abandoned Mansion Frozen In TimeSerendipity TimesBrake For ItThe Most Worthless Cars Ever MadeBrake For ItBetterBe20 Stunning Female AthletesBetterBeAlphaCute30 Rules That All “Hells Angels” Have To FollowAlphaCuteDefinitionDesi Arnaz Kept This Hidden Throughout The Filming of ‘I Love Lucy’DefinitionTaonga: The Island FarmThe Most Relaxing Farm Game of 2021. No InstallTaonga: The Island Farm BG Group offsets production drop with higher gas prices Share KCS-content Show Comments ▼ whatsappcenter_img Tuesday 8 February 2011 8:56 pm More From Our Partners Brave 7-Year-old Boy Swims an Hour to Rescue His Dad and Little Sistergoodnewsnetwork.orgKiller drone ‘hunted down a human target’ without being told tonypost.comAstounding Fossil Discovery in California After Man Looks Closelygoodnewsnetwork.orgRussell Wilson, AOC among many voicing support for Naomi Osakacbsnews.comSupermodel Anne Vyalitsyna claims income drop, pushes for child supportnypost.comNative American Tribe Gets Back Sacred Island Taken 160 Years Agogoodnewsnetwork.orgBiden received funds from top Russia lobbyist before Nord Stream 2 giveawaynypost.comPolice Capture Elusive Tiger Poacher After 20 Years of Pursuing the Huntergoodnewsnetwork.orgA ProPublica investigation has caused outrage in the U.S. this weekvaluewalk.comKamala Harris keeps list of reporters who don’t ‘understand’ her: reportnypost.comI blew off Adam Sandler 22 years ago — and it’s my biggest regretnypost.comUK teen died on school trip after teachers allegedly refused her pleasnypost.comInside Ashton Kutcher and Mila Kunis’ not-so-average farmhouse estatenypost.comFeds seized 18 devices from Rudy Giuliani and his employees in April raidnypost.comMark Eaton, former NBA All-Star, dead at 64nypost.comSidney Crosby, Alex Ovechkin are graying and frayingnypost.comFlorida woman allegedly crashes children’s birthday party, rapes teennypost.com980-foot skyscraper sways in China, prompting panic and whatsapp Tags: NULLlast_img read more