Gushing profits for oil majors on crude price
The outlook is bright for the oil industry, for now (AFP Photo/DAVID MCNEW)/ Paris (AFP) - The world's top energy companies booked enormous profits last year thanks to higher oil prices and keeping a tight lid on spending, even if that risked limiting their medium-term production capacity. The five "supermajors" -- US firms Chevron and ExxonMobil, Britain's BP, Anglo-Dutch Royal Dutch Shell and Total of France - earned nearly $80 billion in net profits last year. They all boosted their bottom line, with some hitting levels not seen since a ...
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