The first Quarter of 2021 saw a significant bounce-back for pandemic-hit oil majors as earnings increased and debt was reduced. Investments in renewable and low-carbon technologies appears to be the focus for the future.
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The oil majors continue to suffer as the impact of the COVID Pandemic and reduced oil demand took their toll on 2020, although some still managed to show profitability.
BP and Shell weather the storm ahead of other oil majors.
Q2 figures for oil majors demonstrate the full impact of the COVID pandemic as profits plummet.
Oil majors have had to weather rockbottom demand and prices as a result of Covid-19
Weaker oil prices have affected the profits of the oil majors.
The oil majors delivered disappointing short-term news to thier shareholders after earning and profits were hit across the board as a result of lower oil prices and increased costs.
A mixed set of Q2 2019 reports from the oil majors and lubes producers including Shell, BP, ExxonMobil and Fuchs.
A generally volatile market has led to slightly depressed numbers for most of the oil majors at the start of the year, but their CEOs are confident of being able to manage the volatility.
BP's highest quarterly results for more than five years demonstrates the trend of increased profits and revenue for oil majors.