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IC - First-quarter supermajor earnings disappoint some investors - May 2019
BPX EnergyExxon Mobil Corp. and Chevron Corp., the largest and third-largest publicly traded supermajors, reported 50% and 27% lower earnings in Q1 on anemic refining and chemical margins and a volatile price environment. It’s a theme investors are likely to hear among US companies with refining operations, more so than those outside the country, as they are not seeing the discounts of US crude prices compared to global prices. In Exxon’s case, the weaker environment generated its first loss......
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