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May 6, 2020

Big Oil’s Q1 2020 earnings plummet amid market chaos

By Miranda Mclaren

The earnings of the international major oil and gas producing companies have suffered in the first quarter of 2020 as a result of weaker product demand caused by Covid-19 and lower realised oil and gas prices. Despite a depressed outlook for 2020, Big Oil remains committed to dividend payments as shareholders are prioritised. Going into Q2, the continuation of distressed commodity prices, company production curtailments and suffering product demand will endure further earnings pressure for the group.

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