What to expect as Big Oil reports second-quarter earnings

0 8
An oil pump jack operates at the Inglewood Oil Field in Culver City, California, U.S., on Sunday, July 11, 2021.Kyle Grillot | Bloomberg | Getty ImagesLONDON — Oil and gas majors are likely to report bumper second-quarter earnings in the coming days, energy analysts have told CNBC, following a brutal 12 months by virtually every measure. The expected upswing would build on a surprisingly strong showing in the first quarter and lend further support to the oil and gas industry's efforts to pay down debt and reward investors. "Big Oil" companies, referring to the world's largest oil and gas majors, still face significant challenges and uncertainties, however.These include the remarkable success of shareholder activism in recent months, a "tremendous degree" of ongoing investor skepticism and intensifying pressure to massively reduce fossil fuel use in order to meet the demands of the climate emergency."Europe's integrated oil sector already enjoyed surprisingly strong earnings
Subscribe or log in to read the rest of this content.
Leave A Reply

Your email address will not be published.

At The Centre of Every Trade
$59.95/month