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Decline in oil and gas production and refining gross profit decline in the profits of the three major multinational oil companies

decline in oil and gas production and refining gross profit decline in the profits of the three major multinational oil companies

April 15, 2014

[China paint information] due to the decline in oil and gas production of ExxonMobil, the net income of the company in the fourth quarter of 2013 fell to $8.35 billion from $9.5 billion in the fourth quarter of 2012. ExxonMobil said that its oil and gas production fell by 1% in 2013. However, due to the launch of new projects in Papua New Guinea and Siberian Arctic and its commitment to continue to seek the development of non-traditional resources in North America, the company's oil and gas production is expected to increase by 3% per year before 2017

under the situation that the net income of gb/t 9639 fell by about 12% according to the overall relevant standards, the profit of ExxonMobil's refining and sales business fell by 48%, allegedly due to the slow economic growth in the Asia Pacific region and Europe. Overall, the sales volume of ExxonMobil refined products in the fourth quarter of 2013 was only 6million barrels/day, a year-on-year decrease of 114000 barrels/day. Due to the start-up of new capacity of Asian chemical industry, the boundaries of this divergence should be clear. The gross revenue of the company's chemical business fell by 5%, only US $910million. Like its overseas refining and sales business, its overseas chemical business also suffered a significant loss of 56%, and its profit fell to US $102million. However, the favorable business environment in the United States promoted ExxonMobil's domestic chemical business to increase by 11% to US $108million in the fourth quarter of 2013

similar to ExxonMobil, shell also suffered a 48% decline in profits to $2.9 billion in the fourth quarter of 2013. To this end, shell said it would be committed to reducing capital expenditure and improving performance. Due to the increasing cost of oilfield development in 2013 and the unprofitable shale investment and exploration in North America, shell generated a net capital expenditure of US $44billion, and plans to reduce the expenditure in 2014, including changing the M & A expenditure from resource-based management to capability based management, from US $46billion in 2013 to us $37billion

in addition to reducing capital expenditure, shell also seeks to accelerate the divestment of assets to improve profitability, and has agreed to sell assets worth a total of $2.1 billion in Australia and Brazil. Shell plans to sell $15billion of assets in the next two years

chevron 201 thus promoted the development of wood plastic composites, siding and other building plastic products. In the fourth quarter of three years, the oil and gas production decreased by 3.4% to 2.58 million barrels of oil equivalent/day. In addition to the decline in its global refining gross profit, the company's profit in the fourth quarter also decreased by 32% to $4.93 billion (US $2.57/share). Due to the rising cost of the US $54billion LNG project in Australia and the fact that the production capacity has not yet reached the expected level, it is predicted that the production will increase by only 0.5% in 2014, with an average of 2.61 million barrels of oil equivalent/day. The company is seeking to develop deepwater areas in the Gulf of Mexico and Kazakhstan to increase its oil and gas production, and plans to invest US $39.8 billion in 2014 for exploration drilling, offshore oil platforms and natural gas export facilities

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