Five super majors'performances in 2023 and their strategic trends
Geopolitical tense situation and its spillover effects have caused greater impacts and influences on international oil and gas supply security and supply chain resilience in 2023.Due to such factors as oil and gas price decrease,refining business margin decrease,and impairment of assets,the total revenues and net profits of five super majors as ExxonMobile,bp,Shell,Chevron,and TotalEnergies decreased significantly.ExxonMobile would be the first of the super majors in terms of oil and gas reserves and crude oil production,and Chevron's natural gas production is the most.Super majors'scale and strength including oil and gas reserves,oil and gas production,crude oil processing,and total assets declined compared with them in 2022,the control effect of oil and gas average production costs was significant,and expenditures on research and development were further enhanced.The paper points out that five majors emphasize balanced development between oil and gas business and renewable energy,shareholder satisfaction and capital market satisfaction,ESG implementation effect,two-wheel drive development from both asset management and capital operation,and synergetic development between oil and gas business and energy transition,and suggests that Chinese oil enterprises should take reference from the energy transition implementation paths of international oil companies,develop by choosing related diversification,and pay more attention to grabbing cooperative coupling between existing assets and incremental investments.
international oil companiesoperating performancesstrategic trendsreferences and inspirations