- Published: January 1, 2022
- Updated: January 1, 2022
- University / College: University of California, Berkeley (UCB)
- Level: Doctor of Philosophy
- Language: English
- Downloads: 11
Husky Energy Inc. Company Profit Rise Husky Energy Inc Company reported 11. 5% profits from the sale of oil and gas, accrued from production operations by 10%. The entire production rose from 309, 000 barrels to 341, 000 barrels over a period of one year. Reliability, affordable prices and quality products have strengthened customers’ trust over Husky Inc Company. The tremendous production rates were also accelerated by sufficient water supply from Liwan Gas Project as well as an improved performance from other oil-thermal projects. The company also enjoys a boost from enterprise projects such as operating the four oil refineries in the North America and oil upgraders in Lloydminster and Ohio. Despite unpredictable interruptions in Ohio refinery reducing the production rates, Husky net income rose at an average of $50 million from previous year.
Husky’s Liwan Gas Project
Exploration of new oil fields has enabled Husky Inc Company to invest in the transportation sector in order to boost efficiency to the market. For instance, the company has deployed Canadian knowledge to maximize shipping of oil and gases from the Southern China to the potential markets. These measures are intended to upstage the market operations of the competitors. Due to intensive production and accessibility to world leading energy markets, Husky is worth $6. 5 billion. Partnership with CNOOC Ltd in China has enabled the company operate both swallow water transportation and gas terminal facilities thus making its production techniques competitive. CNOOC is also the primary customers of Husky.
Reducing 2015 Capital Budget
Husky energy plans to lower the 2015 budget by one third of the 2014 budget. These changes are entitled to compensate weak prices as well as the spending spree on the ongoing projects in Liwan and Southern China. The financial capacity of Husky’s Oil Company will enable it weatherproof any market conditions in order to withstand competitions from Calgary as the primary competitor. The production operations in Western Canada is streamed by 42% while the oil fields in Atlantic regions by 14%
References
http://business. financialpost. com/2014/10/23/husky-energy-profit-rises-11-5-on-increased-production/? __lsa= 82c4-44b6
http://business. financialpost. com/2014/03/31/husky-liwan-china-2/? __lsa= 82c4-44b6
http://www. canadianbusiness. com/business-news/husky-energy-trims-2015-capital-budget-to-3-4-billion-1-7b-less-than-2014/
