US heavyweights feel the squeeze
Financial results suffer as erratic global politics and abundant supply sends energy prices tumbling
The full-year financial results of US oil and gas firms ExxonMobil, Chevron and ConocoPhillips confirmed what investors had previously feared—profits sent plunging by volatile energy prices and shrinking margins across the value chain. ExxonMobil was arguably the worst afflicted. Total earnings in 2019 tumbled by $6.5bn over the previous full-year result to $14.34bn. The downstream and chemical divisions of the business felt the biggest squeeze, as narrowing North American differentials, reduced chemicals margins and scheduled maintenance lowered earnings by $5.4bn. ExxonMobil did post a slight lift in upstream profit. But while net earnings by lifted $0.36bn over 2018, in reality the $3.7
Also in this section
20 February 2026
The country is pushing to increase production and expand key projects despite challenges including OPEC+ discipline and the limitations of its export infrastructure
20 February 2026
Europe has transformed into a global LNG demand powerhouse over the last few years, with the fuel continuing to play a key role in safeguarding the continent’s energy security, Carsten Poppinga, chief commercial officer at Uniper, tells Petroleum Economist
20 February 2026
Sempra Infrastructure’s vice president for marketing and commercial development, Carlos de la Vega, outlines progress across the company’s US Gulf Coast and Mexico Pacific Coast LNG portfolio, including construction at Port Arthur LNG, continued strong performance at Cameron LNG and development of ECA LNG
19 February 2026
US LNG exporter Cheniere Energy has grown its business rapidly since exporting its first cargo a decade ago. But Chief Commercial Officer Anatol Feygin tells Petroleum Economist that, as in the past, the company’s future expansion plans are anchored by high levels of contracted offtake, supporting predictable returns on investment
