At a time when global demand for petroleum products was already strong, major disruptions in the Gulf of Mexico drove oil prices and refining margins to very high levels in the third quarter,
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We believe that being strong everywhere else in the world but in the U.S. isn't a handicap,Thierry Desmarest
I believe that it is necessary today to join forces to assure continued solid growth and to take our place as an oil major of the first rank at a time when the industry is restructuring on a global scale,
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In exceptional circumstances, we will make an effort to spread the rise.
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Continued demand growth and a high rate of capacity utilization for production and refining drove crude prices and refining margins to very high levels in the second quarter of 2005,
Thierry Desmarest
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