VOL. XLI

No. 25

22-June-1998

GENERAL

Oil Companies Budgets Trimmed By Around 10% Because Of Low Oil Prices, SaysPetrodata

Oil companies have felt the pain of low oil prices in the first few months of the yearreflected in an approximate 30% drop in net income for a selection of major oil companiesin the first quarter of 1998 over 1997, according to the May/June issue of Petrodata's Non-OPECBulletin. The bi-monthly publication states that "the hole in revenues the lowoil price has created is bad...