oil - $ /bbl brent, $ - /bbl wti. the brent average for was $ /bbl, so we are expecting to continue to downward overall trend in pricing. projected retail gas price - $ (down from average of $ ) us crude production hit a high in - it is expected to continue to accelerate from the current level through...
non-operating items less fair value accounting effects underlying replacement cost profit before interest and tax - gulf of mexico oil spill response less non-operating items: finance costs and net finance income (expense) relating to pensions and other post-retirement benefits taxation on an underlying...
its cost. under the fifo method, which we use for ifrs reporting, the cost of inventory charged to the income statement is based on its historic cost of purchase, or manufacture, rather than its replacement cost. in volatile energy markets, this can have a significant distorting effect on reported income...