Shell, BP and Others to Report Earnings, Reveal What Role Lower Crude Prices Played On Results
By
Justin Scheck
LONDON—In the coming days, the world’s biggest publicly traded oil companies will report fourth-quarter earnings, offering the best look yet at the bite lower crude prices have taken out of Big Oil.
For BP PLC, lower oil prices are just one headwind. A federal trial now under way in New Orleans could levy penalties of as much as $13.7 billion for the 2010 Deepwater Horizon oil spill in the Gulf of Mexico. Meanwhile, BP owns nearly 20% of Russian producer OAO Rosneft. Kremlin-controlled Rosneft faces Western sanctions...... (log in or subscribe)
http://www.wsj.com/articles/big-oil-fac ... 1422395792
Just a snippet from the WSJ. It'll be interesting to see what effect price drops have had so far on the majors, and how they plan to respond. I've seen rumours of mergers and divestitures, major layoffs, etc.. Maybe you oil patch folks can weigh in. Tough time to be Big Oil?