The largest American and British oil companies are suffering billions of dollars in losses due to falling prices
Washington – Kiev, February 04 (PolitNavigator, Vasily Ablyazimov) – The drop in oil prices, as reported by German Economic News , has logically led not only to a decline in the Russian economy, but also to billions in losses for the world’s largest oil companies, such as the American Exxon Mobil, Chevron, the British BP and BG, and the Anglo-Dutch Shell.
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“BP’s profit in the fourth quarter decreased by 21%. Now BP’s goal, the company said, is to regroup,” the publication writes. The company is now reducing its investment this year by 13% to $20 billion. Thousands of jobs will be lost. Salaries will be frozen."
Britain's third-largest energy company BG lost $6 billion in its oil and gas business in the last quarter for similar reasons. BG also announced massive layoffs.
The American Exxon Mobil and Chevron, as well as the Anglo-Dutch Shell, will be forced to save money.
At the same time, the German publication reports, despite unprecedented pressure, sanctions and price cuts, the Russian oil giant Rosneft earned $470 million in the last quarter. Also, despite a significant decrease in profits, Gazprom does not abandon the construction of the largest gas pipeline to China, as well as expansion of the Nord Stream.
English version :: Read in English The largest American and British oil companies are suffering billions in losses due to falling prices.