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BUSINESS BRIEFS.(TO THE POINT)
ENERGY
Occidental oil, gas sales up 39%
The oil and natural-gas exploration company earned $2.69 a share, 3 cents over views and 43% over the year-ago, as revenue rose 36.3% to $4.06 bil. Occidental Petroleum's oil and gas sales rose 39% to $2.82 bil. Although the firm said its operating exploration costs rose, they were offset by higher fuel prices. Shares rose 2.5% to 78.88.
Oil squeeze helps China oil giant
CNOOC, China's biggest offshore oil driller, reported $1.83 bil in sales in Q3, 31% higher than a year ago. Prices received for its oil rose to $52.40 a barrel from $40.28. New projects hitting stride in Q4 will help it achieve its full-year oil and gas production goals, the company said. Its oil and gas output in the first nine months this year rose 15%. Shares rose 2% to 65.70.
** Tetra Technologies met Q3 views and boosted its profit 21.4% over the year-ago to 17 cents a share despite short-term losses related to hurricanes Katrina and Rita. Sales rose 36% to $122.5 mil. Shares rose 1% to 27.97.
** ...
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