SAN FRANCISCO (Reuters) - Chevron (CLC).(N) and Total (TOTF.)(PA) became the last major oil to post sharp increase in profits as the crude price surged and refining margins improved with global demand for fuel.
The price of oil has increased comfortably above $ 100 per barrel, donning a tightening of drivers and raising talk of U.S. legislative repression, as disorders and global energy demand in the Middle East and the North Africa cloud image of oil supply.
"Increasing geopolitical tensions and after the earthquake in the Japan will shift the balance of global energy markets", said the President Total Christophe de Margerie.
The price of crude oil boom, oil refiners, main entrance led to a $1 price increase pay U.S. drivers for a gallon of gasoline, angering consumers already besieged by years of recessionWhile the recovery of crimping.
The profits of a relaunched the oil price also masked declines in production for Chevron and Total, despite the many billions of dollars they spend each year to maintain the constant flow.
Michael Yoshikami, including funds YCMNET manages the $ 1.1 billion and holds shares of Chevron, saw the potential problems for the oil companies now that same Republican U.S. with eyes on the election of 2012 speak of the abandonment of the relief tax oil company, with the very real risk of sharp decline in oil prices.
"At this time, it will be even worse for energy companies because they will make money, but much less money, they still have to devote to research and development and drilling costs, and they will still be vilified"Yoshikami said.""
President of the Commission Budget House in the United States Paul Ryan said Thursday that he supports tax relief for the cutting of the oil industry as lawmakers search for the ways of the battle of rising gasoline prices.
Chevron Corp., the second largest US oil company, reported an increase of 36% more than expected in earnings Friday, but exit said slipped 1% to the oil equivalent of 2.76 million barrels per day (BPD).
Total of the France, said Friday net profit adjusted, which excludes unrealized gains related to the increase in the value of stocks, increased to 3.1 billion euros ($4.60 billion) in the first quarter, $ 2.3 billion a year earlier.
Oil and gas of total production fell by 2% to 2.37 million barrels in the first quarter.
It was a similar story for BP Plc (BP).(L) and Royal Dutch Shell Plc (RDSa.L), although the leader of the Exxon Mobil Corp. (XOM) industry(N) the increase in production with its acquisition of XTO natural gas company. (Chart of oil Majors Q1 reports: http://r.reuters.com/kex29r)
Chevron is considering capital investment of $ 26 billion this year, while Total, said Friday it would spend between 20 billion and $ 23 billion dollars per year in the years to come.
The numbers of Chevron and Total came a day after the Exxon and Shell exceeded estimates with their profits.
Total (TOTF.)(AP report) Friday in an increase of 35 per cent of profit added in the light of market, it enjoys a day before when he announced that it would take a majority stake in the American solar energy society SunPower Corp.
Shares of Total increased by 0.5% Friday at 43.22 EUR.
Chevron shares increased by 0.5% to $109.40 in afternoon trading. The stock has gained 19 percent since the beginning of 2011, Exxon action.
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