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IS - Supermajors stay resilient though earnings slip double-digits - November 2019
Supermajors were beset with slumping prices and demand along with tightening chemical margins in Q3. The three European supers—Shell, BP and Total—all reported lower adjusted earnings reflecting market conditions, and in all three cases their leaders expressed resiliency and confidence in their business plans. Total raised its dividend 6% YOY, BP got rid of the scrip dividend option because it’s feeling good (despite a net loss for the quarter), and cautious Shell kept its......
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