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Big Oil Needs to Borrow to Cover Dividends and Share Buybacks

Big Oil Needs to Borrow to Cover Dividends and Share Buybacks

Big Oil Needs to Borrow to Finance Own Share Buybacks – Oil majors have been reporting lower Q3 profits, suggesting that the era of windfall revenues is coming to an end, with the average quarter-on-quarter dip for the five leading companies averaging 12%. – ExxonMobil, Chevron, Shell, TotalEnergies, and BP will earn a combined $24.4 billion in Q3, which leaves all companies except Shell unable to cover their dividends and share buybacks with free cash flow. – The need to borrow in order to cover buybacks isn’t necessarily a problem for US…

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