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Oil & Gas UK Statement on Oil Company Profits
The first-quarter profits posted today by Shell and BP can be largely attributed to the rising oil price which has increased 17 percent since the beginning of the year and which closed yesterday at just under $117 a barrel for Brent crude. The financial figures, of course, relate to these companies' far-reaching global operations and not simply to business in the UK.
Oil companies do not determine the price of the crude oil they produce. The oil is sold as a ... Continued 
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