Reported 1 day ago
As oil prices continue to decline, major oil companies like Chevron, ExxonMobil, BP, Shell, and TotalEnergies are facing pressure to cut costs and reevaluate their shareholder payouts, which have become unsustainable without incurring significant debt. With oil prices dropping to their lowest levels since July and predictions of further declines, these companies must decide whether to reduce operations, increase debt, or scale back on generous dividends and buybacks that have historically kept investors satisfied. TotalEnergies has already announced significant cost reductions and a decrease in buybacks as part of its strategy to adapt to this challenging market.
Source: YAHOO