Exxon, Chevron post blowout earnings, oil majors bet on buybacks

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Reuters UK

By Sabrina Valle (Reuters) – The two largest U.S. oil companies, Exxon Mobil Corp and Chevron Corp, posted record revenue on Friday, bolstered by surging crude oil and natural gas prices and following similar results for European majors a day earlier. The U.S. pair, along with UK-based Shell and France’s TotalEnergies, combined to earn nearly $51 billion in the most recent quarter, almost double what the group brought in for the year-ago period. Exxon outpaced its rivals with a $17.9 billion quarterly profit, the most for any international oil major in history. Chevron, Shell and Total ran to …

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