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Western oil majors maintain cautious investment stance despite massive cash profits

Bloomberg · ·by G4L

CVX Chevron Corp
$213.28 +0.98%
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SHEL +0.61% TTE +0.09% BP +1.53%
  1. 1ExxonMobil and Chevron are stockpiling cash, while BP is repaying debt and other liabilities.
  2. 2ExxonMobil's stock rose 56% and Chevron's rose 55% this year.
  3. 3The debt of the five major Western oil companies stands at approximately $276 billion, a nearly 30% decrease compared to the end of 2020.

So what's the key point?

Western oil companies have earned a lot of money but are acting cautiously by paying off debt or building up cash reserves. The reduction of $276 billion in debt means these companies' financial positions have improved.

Source Bloomberg · View original ↗

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