EnergyWatch

'Nasty year' leaves oil investors wary as profits fall short

"It was a pretty nasty year, one of the toughest years ever for the global oil industry," said Sarah Emerson, managing director at Energy Security Analysis Inc. As several major oil companies get ready to announce 2016 results, it is clear that grim headlines may not yet be over.

Crude prices may have stabilized, but it is still not a great time to be Big Oil.

Investors eliminated about USD 53 billion in market value for producers over three days as the twin titans of US oil posted their worst annual financial outcomes in decades. With Royal Dutch Shell Plc, Total SA, and BP Plc due to announce 2016 results in coming days, the grim headlines may not yet be over.

Read the whole article

Get 14 days free access.
No credit card required.

Get full access for you and your coworkers.

Start a free company trial today

More from EnergyWatch

Denmark allocates additional PtX funds

Danish parliament's IPCEI agreement doesn't touch Dutch funds previously earmarked by the government for Power-to-X, says energy minister Dan Jørgensen. On the other hand, the allocated DKK 850m will not necessarily go to the common European projects.

Further reading

Related articles

Latest News

See all jobs