For decades, the major integrated oil companies have been judged by their global scale, diversified business models and shareholder returns. But are their U.S. upstream businesses competitive? Today, we provide answers that may surprise many investors.
Oil markets have been pushed higher by supply disruptions and geopolitical tensions, while natural gas prices have strengthened on weather-driven demand, reinforcing a powerful near-term earnings tailwind. The question is a familiar one: What will producers do with these additional cash flows?
Russia’s 2022 invasion of Ukraine not only led to the demise of Russian pipeline gas supplies to Europe and caused prices to spike, but it also helped create new arbitrage opportunities for U.S. LNG shippers. In today’s RBN blog, we look at the different approaches the U.S. upstream has adopted in response.
U.S. E&Ps have battled mightily to mitigate the impact on earnings and cash flows caused by the steady erosion in commodity prices, but concerning trends could impact future earnings.
