Energy price rises boost BG Group

BG Group, the UK energy exploration and production firm, has reported a 22% rise in annual profits on the back of strong gas and oil prices.

Pre-tax profits for the year to December 2004 were £1.52bn ($2.86bn).

BG, which was formed in 1997 after British Gas was split into two firms, also raised profit targets for 2006.
Chief executive Frank Chapman said BG had made “excellent progress in accelerating some key projects which will enhance our 2006 growth”.

BG said production volumes had increased by 9% on the back of improved performances in its Kazakhstan and Egypt operations.

BBC News