Have Oil Majors Really Adapted To $50 Oil?

2 Aug 2017   Prices

The oil majors, by and large, have posted dramatically better financial figures for the second quarter, a sign that their cost reduction efforts are bearing fruit. They are no longer in the red, but at the same time, there is little chance that they will return to aggressive growth. Here is a quick rundown of the headline figures for some of the largest publicly-traded oil companies in the world: ExxonMobil : $3.35 billion in profits , double from a year earlier Chevron : $1.45 billion in profits , up from a loss in the second quarter of 2016 Royal Dutch Shell : Net profit (on a current cost of supplies (CCS) basis) $3.6 billion, up more than triple from a year earlier Total SA : Profits of $2.5 billion, up 14 percent from a year earlier Statoil : Profits of $3 billion, three times higher than 2Q2016 BP : […]

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