U.S. Majors Pump Profits While BP and Shell Stall

Second-quarter financial reporting season is over and it has revealed two things. First, that Big Oil’s recovery from its energy transition experiment is still ongoing and that European supermajors have yet to catch up with their American sector players—on production and earnings alike. Exxon and Chevron both reported record oil and gas output for the second quarter despite weaker prices in international markets. For Exxon, the daily average was 4.6 million barrels of oil equivalent, made possible by continued strong growth in Guyana…Weiter zum vollständigen Artikel bei OilPrice.com Weiter zum vollständigen Artikel bei OilPrice.com