• 6 minutes WTI @ 67.50, charts show $62.50 next
  • 11 minutes Saudi Fund Wants to Take Tesla Private?
  • 17 minutes Starvation, horror in Venezuela
  • 8 mins Desperate Call or... Erdogan Says Turkey Will Boycott U.S. Electronics
  • 1 min The EU Loses The Principles On Which It Was Built
  • 17 hours California Solar Mandate Based on False Facts
  • 4 hours Anyone Worried About the Lira Dragging EVERYTHING Else Down?
  • 1 min Crude Price going to $62.50
  • 9 hours Correlation does not equal causation, but they do tend to tango on occasion
  • 4 hours Why hydrogen economics is does not work
  • 8 hours Oil prices---Tug of War: Sanctions vs. Trade War
  • 8 hours Russia retaliate: Our Response to U.S. Sanctions Will Be Precise And Painful
  • 17 hours WTI @ 69.33 headed for $70s - $80s end of August
  • 19 hours Merkel, Putin to discuss Syria, Ukraine, Nord Stream 2
  • 10 hours Monsanto hit by $289 Million for cancerous weedkiller
  • 5 mins < sigh > $90 Oil Is A Very Real Possibility
Alt Text

This Is Why Canada Lost The LNG Race

Just recently, it seemed as…

Alt Text

A Price Spike Looms For Natural Gas

U.S. natural gas inventories are…

Martin Tillier

Martin Tillier

More Info

Trending Discussions

How To Play The Oil Majors In 2016

This week saw the first of the major multinational, diversified energy companies reporting earnings for the first calendar quarter of 2016. As expected, they have not been pretty in year on year terms, but, as I suggested last week may be the case, most have beaten the drastically cut analysts’ estimates for the quarter. BP (BP), Total S.A. (TOT), Conoco Phillips (COP) and Exxon Mobil (XOM) all had better than expected quarters, with only Chevron (CVX) missing.

Of course that doesn’t mean that everything in the garden is rosy. Most expressed caution, and even worry, about the rest of this year and, while beating expectations is obviously a good thing, all reported huge declines in both EPS and revenue from last year. It is interesting, though, that despite Q1 covering the period when WTI dropped as low as $26.05, only Chevron and Conoco actually reported a loss for the quarter. This indicates the benefits of integrated operations, where the steady cash flow from midstream and downstream business offset the losses from E&P when prices are low.

That is not the only bright spot either. Gloomy forecasts are the only way that CEOs of these companies can go given what has transpired over the last year or so, and reports of cutbacks in capital expenditure, layoffs and other cost saving measures have been the order of the day. In the darkness, however, there were signs of light. Total in particular hinted that they may be looking at improvement as the year…

To read the full article

Please sign up and become a premium OilPrice.com member to gain access to read the full article.

RegisterLogin

Trending Discussions





Oilprice - The No. 1 Source for Oil & Energy News