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PEER STRATEGY

Majors Plow Cash Into Buybacks and Tie-Backs

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Riding high on the commodity price upcycle, Western majors reported another quarter of record profits in the three months to June, aggressively paying down debt and accelerating shareholder returns. Companies appear well placed to lift capex from recent multiyear lows to take advantage of the tight energy market. But a spending splurge is unlikely amid caution over rising costs, the potential political fallout from inflationary pressures on consumers and fickle government policies. Here are Energy Intelligence's key takeaways from second-quarter earnings season.

Topics:
Corporate Strategy , Earnings, Capital Spending, Upstream Projects, Equity and Debt Markets, Gas Supply, LNG Supply
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