Jul 30th, 2016
by John Donovan.

By Joe Carroll: July 29, 2016 — 1:02 PM BST: Updated on July 30, 2016 — 5:01 AM BST
Exxon Mobil Corp. and Royal Dutch Shell Plc this week reported their lowest quarterly profits since 1999 and 2005, respectively. Chevron Corp.’s third straight loss marked the longest slump in 27 years, and BP Plc lodged its lowest refining margins in six years.
Welcome to year two of a supply overhang so persistent it’s upsetting industry expectations that the market would return to a state of balance between production and demand. It’s left analysts befuddled and investors running to the doorways as the crude market threatened to tip into yet another bear market, dashing hopes that a slump that began in mid 2014 would show signs of abating. read more
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Jul 30th, 2016
by John Donovan.

By Katie Fehrenbacher: JULY 29, 2016
Analysts expected the oil giants’ cost cutting to help more.
Many of the world’s biggest oil companies continue to feel the pain as low oil prices continue to undercut profits and lead to shuttered projects and layoffs.
Exxon, Royal Dutch Shell, Statoil, BP, and Chevron announced dismal earnings this week, missing expectations and showing how slashing spending and pulling back isn’t yet enough in a world where oil has dropped from a high of $115-per-barrel in 2014 to a low of $27-per-barrel in January of this year. read more
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shellplc.website and its sister non-profit websites
royaldutchshellplc.com, royaldutchshellgroup.com, shellenergy.website, shellnazihistory.com, royaldutchshell.website, johndonovan.website, shellnews.net and
shell2004.com
are owned by
John Donovan. There is also a
Wikipedia feature.