Volatile crude prices and weak refining margins led to lower earnings at all five oil supermajors in the first quarter of 2019, suggesting that Big Oil shouldn’t stay complacent several quarters after the industry emerged from one of the worst downturns in a generation. Big Oil’s five majors—ExxonMobil, Chevron, BP, Total, and Shell—reported over the past two weeks a mixed bag of results for Q1. While net earnings at all companies were lower than last year’s first quarter on the back of lower average Brent Crude prices compared to Q1 2018 and weak refining margins that battered downstream earnings, some supermajors met and even exceeded analyst expectations thanks to strong trading profits and to their natural gas businesses. The most vital industry information will soon be right at your fingertips Join the world’s largest community dedicated entirely to energy professionals and enthusiasts The European majors fared better than the […]