Big Oil Reports Good Quarterly Earnings, Eyes More Shareholder Returns, Lower Debt, Disciplined Spending

SUGAR LAND--November 5, 2021--Written by John Egan for Industrial Info Resources (Sugar Land, Texas)--Large integrated oil companies reported mostly solid financial results for the third quarter, and they plan to share more of that largesse with their investors. Beyond increased dividends, Big Oil plans to use its cash haul to reduce debt and invest, in a disciplined way, in the core business, with some investments going to adjacent lower-carbon ventures. They are not, generally speaking, using their surge of cash to chase the next "elephant" oilfield discovery. Within this article: How each of the Big Oil players fared in the third quarter, and details on their plans to decarbonize and adopt more sustainable tactics.