Listed majors earn 16,940 million in 2015, 78% less – Aguasdigital.com

                 Photo: EFE

Stock Photography of an oil rig. EFE / File

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             Big Oil traded earn 16,940 million in 2015, 78% less

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02/14/2016 7:40 (- 6 GTM)

                Madrid, Feb 14 (EFE) .- The big oil listed last year earned 16,940 million, 78% less than in the previous year, to an affected by the collapse of oil prices that forced them to adopt harsh environment adjustment measures.
with oil around $ 30 a barrel, far from the more than $ 100 accounted in mid-2014, the downturn affected companies such as ExxonMobil, Total, Chevron, Shell, Statoil and BP.
with a loss of 6.482 million dollars, BP scored the worst result in the last 20 years and ended the profits recorded in 2014.
in this context, the company announced the same day the elimination of 3,000 jobs in the areas of refining and sale, which the planned redundancies earlier this year totaled 11,000.
Norway’s Statoil also entered into loss last year, registering a loss of 37,300 million kronor (about 4.365 million dollars) harmed by oil prices and asset impairments.
Now in paragraph profits, Royal Dutch Shell won 1.939 million dollars, 87% less, with a drop of turnover of 37%.
in this situation, the company undertook “important changes” to reorganize its exploration and production area to accommodate the new price environment, which will mean a reduction of about 10,000 jobs.
Chevron’s earnings fell by 76% to 4.587 million dollars, impacted, in addition to oil prices, the strong dollar, weakening its results in other countries.
oil responded to this environment with a strong adjustment in costs and a commitment to petrochemical division.
ExxonMobil he was also depleted their accounts with a profit of 16,150 million, 50% less, and a decrease in revenue of 35 %.
the company vice president, Jeff Woodbury, defended during the presentation of results had “built this business to ensure that it is sustainable in an environment that includes low prices.”
the French Total was the only major listed oil companies increased their profits – by 20% to 5.087 million dollars. – driven by extraordinary effects, such as divestments and cost containment program
the Minister CEO of the company, Patrick Pouyanné, said during the presentation of the accounts was confident that prices to return later this year.
the Spanish Repsol, who will present their accounts at the end of the month, she moved in late January a loss of 1,200 million euros (1,300 million dollars), derived from the accounting effect of provisioning 2,900 million euros to adjust their results to the fall in oil prices.
the company also announced a number of additional measures adjustment, including a cut in investment of 20%, a deepening of divestments or increased synergies and efficiencies.