Big Oil bleak on refining profits going into 2025
By Sheila Dang and Sharma
Houston – Great Petroleum Traders This week’s gain of the vision of the vision has been seen after the Chevron after Exxon Mobil and Shell all that caused severe strikes in the margins.
2024
Chevron shares have fallen from 4% after 2020 losses in his processing business.
“This trend we have seen about the margins that softened 2024 is something you can expect to continue to see 2025,” said in the interview.
“It was a weak fourth quarter that there is no doubt about the post-operative conference to be held accountable to the issue of recycling analyst.
“I’m not going to call it a perfect storm, but it was a quarter when everything went through one way, and it was negative.”
Wirth said Chevron would focus on what could control to be a lighter servant for processing plants next year.
Exxon Mobile shares fell by 2.5% after 75% were reported in accomplished earnings compared to the third quarter. On Friday, the broader S & P 500 Energy Index decreased by 2.8%.
Processing business remains under pressure from entering the market for new recycling factories in different countries of the world, and in an interview, Miki Kickyki said in an interview.
“It’s really what we watch when we look until 2025,” he said.
US oil producer still wins profit assessments from higher production, US oil, and Gayana, Gayana, last hotspot of oil.
On Thursday, the United Kingdom cledd said that while there had no plans to go out of business, it did not plan to expand.
The company’s fourth quarter’s earnings have almost halved since last year $ 3.66 billion, partly due to weaker cleaning margins.
Shell sold his processing and chemical node in Singapore last year and plans to close another factory in German trail.
Hit independent recyclers
Although the highest oil production of oil and gas helped the majority of oil and oil.
The profit of the fourth quarter of Phillips 66 in the quarter of the year ended $ 8 million from $ 1.26 billion. In the fourth quarter, Valero’s recycling profit decreased by 73%.
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