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Oils Big Five Squeezed by Crude Drop as Spending Soars: Energy

2013-04-24 18:26:00| Climate Ark Climate Change & Global Warming Newsfeed

Bloomberg: The biggest oil companies are failing to increase earnings as crude trades near a nine-month low, production wanes and costs rise. For only the second time since 2009, Royal Dutch Shell Plc, Exxon Mobil Corp. (XOM), Chevron Corp. (CVX), BP Plc (BP/) and Total SA (FP) will all report lower quarterly profit when they announce earnings in the coming week, analysts estimates show. The group, which is investing a record $155 billion this year to bolster output, is disappointing investors: the companies...

Tags: big energy drop spending

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