Big Oil is Back, Paced by Higher Crude Prices, Bigger Chemicals Profits and Continued Capital Discipline
SUGAR LAND, TEXAS--August 9, 2021--Written by John Egan for Industrial Info Resources (Sugar Land, Texas)--Big Oil reported much-improved financial results for the just-concluded second quarter, aided by rising crude oil prices, economic growth and strong demand for chemicals. In their earnings statements, supermajors went out of their way to emphasize their financial discipline and their plans to increase shareholder payouts and lower debt.
Companies featured: BP Plc (NYSE:BP), Chevron Corporation (NYSE:CVX), Royal Dutch Shell (NYSE:RDS.A), TOTALEnergies S.E. (NYSE:TTE), General Motors Company (NYSE:GM), BHP Group Ltd. (NYSE:BHP), Exxon Mobil Corporation (NYSE:XOM), Microsoft Corporation (NASDAQ:MSFT) and T-Mobile U.S. Incorporated (NASDAQ:TMUS).
