UK sanctions Russia’s oil giants over Ukraine war
UK Sanctions Russia’s Oil Giants: Targeting Lukoil, Rosneft in Ukraine War Response The UK government imposes 90 new sanctions on…
Tag: Petroleum industry
Big Oil Confronts Tough Choices as Monster Profits Fade
Energy supermajors are confronting challenging decisions as the era of record profits fades. With crude prices weakening, companies face pressure on shareholder returns while implementing cost-cutting measures across operations.
The era of monster profits is fading for Big Oil companies, forcing difficult strategic choices as weaker crude prices pressure the generous shareholder returns that characterized recent years. Energy supermajors including Exxon Mobil, Chevron, Shell, and BP are implementing significant cost reductions and reconsidering their financial priorities amid an industry downturn that marks a stark contrast to the record-breaking profit environment of 2022.