BPX EnergyExxon Mobil Corp. and Chevron Corp., the largest and third-largest publicly traded
supermajors, reported 50% and 27% lower earnings in Q1 on anemic refining and chemical
margins and a volatile price environment. It’s a theme investors are likely to hear among
US companies with refining operations, more so than those outside the
country, as they are not seeing the discounts of US crude prices compared
to global prices. In Exxon’s case, the weaker environment generated its first loss......
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