Mixed fortunes in oil majors' results round
Upstream results from some leading oil firms were the best seen for years, but others fell flat
In terms of keeping shareholders happy, there's nothing like announcing rising production levels days after Brent crude hits a three-year high—especially if you also float the idea of a possible dividend increase. That combination helped BP win perhaps the most plaudits after a recent round of first quarter results from the oil majors. By and large, the sector leaders reported improved production revenue in the first quarter of 2018, due in large part to the recovering oil price. Brent crude was hovering around $50 a barrel at the end of the first quarter 2017, but was just below $70 at the end of March 2018, before moving even higher to reach $75 on 25 April. When it announced its results o
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