Release Date: December 2008
Next Release Date: December 2009  

• Tables and Figures
  
  
• Major Findings
• Financial Developments
• Production
• Refining & Marketing
• About the Financial Reporting System Companies
• About Performance Profiles
• About the Financial Reporting System (FRS) Survey
• Market Overview
  
  
• Acronyms
• Financial Terms
• Glossary
• Historical Company List
  
  
  

Financial Developments

1. Net income reached $125 billion, the third-highest ever in the FRS survey.

2. Return on stockholders’ equity was 23.1 percent, the third-highest ever (trailing only 2005's 28.2 percent and 2006's 27.1 percent).

3. Earnings in the oil and natural gas production segment fell 9 percent (in constant 2007 dollars) in 2007 from 2006 as crude oil prices continued to rise but natural gas prices fell.

4. Refining/marketing net income declined by 3 percent to $32 billion, but was the second-highest ever trailing only 2006. Petroleum product prices increased by less than the increases in crude oil and operating costs.

5. Cash flow from operations decreased 4 percent from 2006 to $191 billion in 2007; the second-highest level reported in the 22 years that the FRS survey has collected this information.

6. Capital expenditures decreased 18 percent from 2006 to $165 billion in 2007. Reduced merger and acquisition activity was a major contributor of the decrease.

7. FRS companies increased the amount of cash used to repurchase stock and lower debt levels. Their cash and cash equivalents positions increased by $5 billion in 2007.

8. While expenditures for exploration, development, and production increased, lower expenditures for acquisitions led to an overall decliine in upstream expenditures in 2007, which fell 22 percent to $161 billion.

More Information on Financial Developments (PDF)

Tables and Figures

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